well i was speaking for myself since i entered last week too high, and did not wait for this too continue down..i felt any pullback from overbought conditions would be mild..
mild to me anyway..so i got stopped out of a lot of longs...
however..being the optimist..i'll get merrily back in again without hesitation...
i checked all the fibo retraces...this looks very good here on most indexs...
KLAC is down 1.71 today. NVLS down $1.51. For day traders that bought near the lows that's fine but the ones that bought Friday or even in the AM they are hurting.
BTW, Larry's stop loss hit today and he sold BRCD and BRCM for a loss.