Just Looking at the Action

As I watched the market I noticed two things. 1.) Google is under liquidation. To me it looks like a large fund is reducing their position in the stock. Its that kind of relentless selling, that pressures a stock all day and then wears out the market by the end of the day and collapses. If the trend continues it may start to get people's attention. Worst case scenario for those long the stock: the momentum guys realize this is the case and jump all over the stock and push it down further. If you can catch the bottom it may be worth a trade.
2.) There is no such thing as good news. GRMN. Look at the intra-day chart. Up 10% down 2%. WTF. Stocks can't hold up in this wipsaw action. Traders get worn out and pull the plug. Short term investors lose because they can't gauge anything. Everyone else may consider this noise, but its noise that has the very real possibility of sending us lower. Watch what will happen if the FED raises and says they are still thinking about doing it again. Dow 10,000 here we come... (In all honesty I don't think that is going to happen, I'm just putting some perspective around it.)