That was one of the worst closes I’ve seen ever. A nearly 300 point drop in the Dow in about 1 hour, and about 1,000 drop in about 1-week.
I have no idea what tomorrow will bring, but I know what you are thinking, and I know what you will try to do. Yes YOU…
… if you’re bullish investor, you are beyond the point of when you should have sold. I know you want to sell now. Don’t do it.
… if you’re a bullish trader, you are deep in the red. I know you want to get everything back in 3 trades, or you want to desperately breakeven. Don’t do it.
I take money from traders like that. I don’t want to take yours. Don’t do it.
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my oh my… bailing out AIG was the dumbest thing I’ve seen this year.
Isn’t it ironic…there’s no insurance for insurance.
great note!
That was weak. I guess yesterday volume turned out to be mostly AIG (over 1 billion shares). Was long and in the money, but did not like the way things were acting in last hour, so took a small loss.
Let’s get a crash…or will it bring more of the same, more BS spikes.
The vix is rediculous, but I have a feeling it’s going to be more rediculous tommorrow. just wait until they start getting the super duper leveraged times 10 index funds!
One more down day and we can forget double bottom intermediate term tradeable bottom.
Japoe – that’s not true. The volume ex-AIG and LEH was still record-breaking yesterday. Saw a chart.
rIdiculous. Ri, not re.
SPX 1100, I keep saying it.
FXP up $30 today! Selling it at 95 was the gayest thing I’ve done this month.
it’s so ridiculous it doesn’t even deserve propper spelling…
rydikulis!
ANF got destroyed today
MELI got destroyed today
RIMM got destroyed today
…and your last hope, AAPL, got raped.
87 = 20% crash… if we crash, we will top that. So far, we have, if you count from October top, fallen 33%.
14198 to 10610 on the Dow.
If we do crash, it will come quietly. Hence, our worst nightmare is if we start consolidating here and volume drops hard. Damn, these are scary times.
BTW… i’m counting 2 Vix spikes on a 3-mponth chart. The liklihood of a super bear rally is more likely than a crash here. i’ll post this later.
Gio: Fitzgerald said the same thing yesterday:
http://www.stockmarketmentor.com/public/1479.cfm
He must be a smart guy. i’ll check it out. seriously though, i dont think anyone will be listening to us. 🙁
… Fitzgerald… hmmm, i wouldnt pay for his services. but i think he has the right idea.
… what the heck? Fitz is trying to use the Vix. Lol. His Vix 30 is too low. Vix needs to break that high, which means Vix from 38-43 is a better shot for a squeeze. Vix 40-45 is THE TRADABLE bottom. Man, he’s smart, but not really.
Gio,
There were 2 spikes in last 3 days. For instance, Monday was a spike and today is another spike.
Are you looking for 2 consecutive spikes?