This sell off will be furious at the opening of trade. I could scrounge around and find the article that will tell you why we are set to go lower, but I’d only be wasting your time. See, people are believing that some Portuguese bank who missed a bond payment is the reason why we are going lower today; but that’s just an excuse. The real reason why we are going lower is complacency.
We’ve been on a record run as of late, with the most consecutive trading days booked without a 1% move in the indices since 1995. With the VIX so low and the markets so high, this was bound to happen. My only reservation about throwing the baby out with the bath water is that there was never a baby to begin with. Our fictional markets will commence its sci-fi run higher, as soon as we shake the trees of the catamite speculators.
Gold and silver look interesting. But I will likely stick with a broad index ETF as an instrument to buy this dip.
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do you think this is the 1%-2% variety or the 3%-5% variety?
Diup Indeud.
The Fly is correct. Portugal is nonsense. It is just time. The dip should be bought. Big question is when. I will be watching. And Yes the Bear will be buying. Currently short.
Can somebody tell me what this means?
I just place a market order to buy some FCX and a message came back that it was capped at a certain price.
My order was place below the cap.
I cancelled immediately as I had no clue what this means (I would message Interactive Brokers, my broker, but they take too long).
Caddy, did you try ‘livechat’?
I was going to but when I saw the message that the price was capped at 38.88, I said to myself cancel it if I don’t understand it.
I put in a market order when it was @ 38.78.
Why not use Limit Orders Caddy?
It also wouldn’t accept my limit order.
Oh well.
Back to waiting for the Rydex trade in 10 minutes.
Thats weird. I traded FCX options (limit orders) with no prob this morning. Just a quick ‘day trade’ – in and out in a few minutes.
I think this is how long’s felt this morning at the mkt open:
http://www.youtube.com/watch?v=qcnBGKiZWCc
I’m a crazy bastard and sold my NUGT this morning and bought JDST and DUST and some AMZN 332.5, FOR THIS WEEK, BAHAHA.
Shit like this always happens when I’m out of town on business. Ugh…
Fly, forget this market. There’s more important issues at hand today.
Where is Lebron gonna go???
There should be an underground NBA where rich people rent out NBA superstars in high stakes 21 betting.