Many favorites are oversold (some severely oversold), but better stay out if you dont have the time. If youre itching for a play, then play with these fundamentally-solid stocks. Only, you must be vigilant and cut immediately if you see a -3% instead of the hoped for bounce.
The stronger force is the FED meeting which will happen late next week. Watch out for the press conference Friday morning (our time). Although Yellen and Bernanke played it very clear that they wont taper the QE until the unemployment rate in the US reaches below 6.5% (theyre still on 7 today), the speculators and fund managers still appear to want to exit early and fast. Then the technical followers also began following in droves as moving averages and supports are breached. Locals are included in this herd selling and there are still many of them still poised to sell on rallies.
And so, the safest route is still to be in the sidelines.
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