Just when you thought the market was going to bounce on the debt ceiling news, it didn't. I have my thoughts already put out there, but let's just say it wasn't in the tea leaves today.
Oversold begets oversold-er. I don't think we head much lower than these levels but have been wrong in the past. I just know it makes sense to put on our mean-reversion goggles and look for some ideas.
In this episode of IWO Into the Close, we discuss:
- why the debt ceiling news wasn't the biggest issue for the $DIA and $SPY
- why the $VIX was lower even though the markets sold off
- the relative strength in $DBA
- your individual requests like $SINA, $TLT, $QCOM, $GOOG and many more