95% of stocks are lower today. The Dow opened down over 1,000 points and CELG was down 21%, full retard style. Let’s be clear about what this is: a motherfucking crash. It’s entirely possible that the market will bottom now and great gains will be had for the remainder of the week. It’s also possible that we rally, drop, rally and then motherfucking implode by the bell–due to traders’ fear of being exposed during Chinese spastic trade tonight.
How comfortable will you feel exposed into Chinese’d trade tonight?
The truth is, the biggest money made during tapes like this is when fear is cast aside and action is taken. When the fear of missing out outstrips the fear of losing money, then this market will bottom.
I am tempted to nibble here, just in case the market stops going lower and champagne corks start popping off in the face of Rickard Santelli again.
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And the dip buyers did ride in like trained cattle to the slaughter.
Nice, the Fly is live blogging today.
Thanks to my UVXY being in my IRA, I am forced not to sell. Damn, I wanted to sell at the open too.
‘cus it ain’t settled?
That lascivious Santelli…. his DNA has to be all over the CNBC mop closet by now…
Thanks for the visual, UB. Gonna pick up a Talisker and a Laphroaig today. First purchases for the home bar!
Jacked – crazy morning. Got distracted and didn’t see your message till late. You like the peat!!! I have the Talisker 10, but haven’t opened. Excellent reviews, though. I’m keeping watch for the Laphroaig 15yr, which is being reintroduced for their 200yr anniversary. May stock up on a couple for the portfolio, as well…
nazzdak 100 down 17.5% on the open!
China free markets
https://twitter.com/george_chen/status/635813928862289921
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was made on May 21 2015
you’re not getting back there