that's what everyone thinks which is precisely why it's wrong
now that all the stops have been taken out in CL and ES, the weak hands have been shaken out and it's going up from here
i expect -10% on the shanghai index at some point tonight, unless the chinese government starts buying shares
everybody that wanted out the last 2 days but couldn't because of how quick the circuit breakers stopped everything will finally get their chance tonight
just based on that, risk to the downside $2 risk to the upside $5-7, more if a geopolitical event comes out of nowhere
shorting here is suicide imo
the largest short positions in crude's history will make for a hell of a short covering rally