What a joyous occasion for so many of you flesh eating ball kickers.
Remember the good times when markets rolled and then rolled some more.
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Joined Nov 10, 2007
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My favorite was “Gimmie my 40” where it was 40 points a day every day. Those were good times.
Aaaand 1000% higher less than 30 years later lol.
those were the days when we had manly BlueStar selloffs, not this 1/2 arsed mamby-pamby nonsense
30% in one day.
I remember it well.
It had been building since mid-Aug/87 and the route got nasty on the Thursday before black Monday. Then over the weekend then Sect’y of Treasury James Baker said the dollar had more room to fall against the DM and Yen (had been falling since the Plaza Accord). This is what it took for the futures to get creamed and then program trading made things much worse (think what the computers would do today).
I was trading Fidelity hourly pricing select mutual funds but was in the MMA for weeks because it looked crazy.
I told my wife on Black Monday I was thinking of flying to Boston (Fidelity HQ) and get my MMA $$ in cash.
Your history is spot on. The crash actually occurred the week before.
I still remember October 16th, Freaky Friday, market was -130
I was young 25, My only investment was a 100 shares of MSFT.
I worked in downtown Dallas and remember the men huddled around a Quotron in a Charles Schwab office, checking quotes.
In those days you had to call in orders to some poor soul working with irate fearful investors, it was primitive.
at least you didn’t fly to Boston
you could have mistakenly ended up in Albany Yikes
If you haven’t seen it, check out “Cancel Crash”, a documentary about the 1987 crash on the tastytrade website:
https://www.tastytrade.com/tt/shows/cancel-crash?locale=en-US
Thanks – that and the YouTube episode of Wall $treet Week with Louis Rukeyser brought back some memories.
A welcome break from kicking sand in the face of bears. Thanks!
– it was fun flipping Oprah today.
What a terrible period in our nation’s history where the women kept their blouses buttoned to the top. Let’s hope we never have to revisit this tragic period.
Greed is “Good”
Spoken like one who has never had any skin in the game