Stocks don’t bottom on Fridays.
That’s almost literally true. Sell-offs larger than 5% have made lows on a Friday twice in the last 15 years.
Key Levels: 1920 on the S&P 500 is a 10% correction. 1865-1870 is a double bottom from August and October.
Make your list of buys over the weekend. The bottom will come when buying stocks seems completely insane.
When there’s blood in the streets, buy property.
I’d hate to see what Monday looks like then…
bought some UA under $75. Why?
Will: He used to just put a belt, a stick, and a wrench on the table. Just say, “Choose.”
Sean: Well I gotta go with the belt there.
Will: I used to go with the wrench.
Sean: Why the wrench?
Will: Cause fuck him, that’s why.
Yeah a bottom tradable range, until the next leg down
US is boombust. You accepted another bust coming after saving 08 bubble boombust following 99 boombust. The normalcy bias is so revoltingly present more and more layers keep appearing adding combining (ha)
If this is my Shanghai Copper Bubble Bursting (I have been fixated on it since 2009, as everyone knows here), this is going to be so much uglier. Yes we will get back to SPX 1880 and then down to 1755ish (where the market should have topped out two years ago). Then a Stupid Central Banker will throw money at the global markets at their meetings this month..ECB and BoJ…then bulls party a bit, then back down, down, down. Mr. Macke can you do a piece on FXP for us Bears out there playing it.
Will you be picking up some more $ANF after today’s draw down?
I don’t think we’ve reached the blood in the streets stage just yet, but the urine is definitely flowing in lower Manhattan.