Ask any trader, and they'll tell you today reeks of it. Despite the 'emergency' rate cut by the Fed, look for a massive spike down today. How today closes will be crucial.
What should one do on a day like today?
Best bet today: sell the VIX. Volatility is going to spike today, but things will, eventually, settle down. Take advantage of leverage with options.
Look for 'good' companies that have been punished for no real reason and start averaging in. You're not going to pick the bottom. So might as well buy a little today.
Should be a great trading day for some ultra ETF's as well. Watch them closely.
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