Nothing is remotely funny about this sordid drop. I am receiving all sorts of emails, phone calls, and texted messages, all the while Rickard Santelli circle jerks, live on CNBC, relishing in the misery of others.
As I write this, the NASDAQ is off by 5%. There isn’t a rationale that I can offer you to jump into the fray here. Of course this is overdone. Naturally, the market is overshooting to the downside. Panics have always been built on this sort of stuff, wrecked emotions, leading to exaggerated moves. But the money lost is real. I do not like to see anyone lose money, truth be told.
For me, it’s too early to say the market has bottomed and that this flush out is done. Whose to say this market is done being clown-raped?
DO NOT place market orders here, just limits. If you’re bottom fishing, stay away from oil, opt for companies who make the bulk of their money here, in the good old MERICA.
When the pendulum swings, we are going to enjoy the greatest rally of your lives. But a lot of damage has been done, which is why I am reticent to step in here, so early in the morning. Margin calls and forced liquidations will be occurring all day long.
The greatest fuckery of all fuckeries is upon you. Brace yourselves.
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Hundreds, nay thousands, of intern traders are going to get canned.
turds won’t hit my bids
From NASDAQUIRIS to NASFUCKERY.
Hold me.
Thinking of bulking up on SHAK for a longish term holding. Year or so. Why not.
Take advantage of unrealistic dips in THS due to the current Market mayhem. This is a good American company going places. Just sayin…..
Still on for our Turnaround Tuesday party?
We’ve already made back 2/3 of the morning gap down. One could make the argument that we’re already having our Turnaround Tuesday party.
Look at this reversal. This is so crazy.
Time to sell puts including Leap puts on the US auto stocks, and on solid stocks like DIS.
I got some orders filled this AM at 40% of thup between the bid and asked. Don’t be too greedy or you wont get filled.
My mistake on this decline was not putting limit GTC buy orders in on good stocks at 10% to 20% below the prices on 8/21 and 8/22. We KNEW that a crash was coming.
Buy Russell $IWB???
saw some swans walking today
Check out today’s LOWS shortly after the open on KR and GE. This is why you need GTC orders in at 20% below the market when you see a crash coming.
Same for CELG
As I said last week this reminds me of Aug. 1987 when we started to see wild swings of 100+intraday points (5% back then) after a multi year bull run.
The markets kept the fluctuation going until the 10/19/87 ultimate flush out.
It’s like a colonoscopy, a necessary evil to make things right.
The scope is coming and this isn’t it.