ATSMELLER in the morning, nothing better.

Since they report pretty soon, and have touched
the "magic" $3.60 area which is the lowest value of
200 day SMA going back 7-8 months, it's time to watch
if any big volume purchases take place, say after the close
etc. However, since Mr market isn't really interested in
rallying until the Fed and payroll numbers are divulged
(IF then), and semis are tanking like stones, who cares?

The depth of the semi plunge is a very worrysome development
for the market because it was semis that found a bottom
first (Nov 2008), and may well have found a top first.

Still just a day trader here until some more dust clears.

The market could just as easily plunge as rally at this point,
but a plunge would be increasingly harder to recover from
because of all the buried buyers turned losing sellers it would create.