Market Anthropology: Oversold

Thursday, May 26, 2011

Oversold

It’s 3:45 am and the audible ramblings from my unsettled stomach have almost become background noise to me.

Almost.

I arrogantly told my wife last week that I wasn’t worried about getting the plague-like stomach virus my kids struggled with the previous week. Something about having built up immunity to their germs by sharing their food…

Needless to say that reasoning didn’t work out so well. 

At this point, the market appears to be simply working off the short term oversold condition it took on going into Tuesday’s session. 

I will be back with something more intelligent to say as soon as things settle down.