A day to be remembered!

[Spectre2007]

one of the traps early on in trading careers is the passive failure method....

when prices are going down, the mind believes, that they can't possibly go even lower...so in a passive state when guards are down, there is a tendency to catch falling knives....

let the next few days playout...don't be a hero...

 

[Spectre2007]

400 points more on Dow...

SP 40 points more...

<a href="http://content.screencast.com/media/7c05f19b-b863-46d2-bbda-9739c0cf9186_af258a57-ae15-4d9b-aa17-719f3d118ede_static_0_0_07022008-221427.jpg"><img src="http://content.screencast.com/media/7c05f19b-b863-46d2-bbda-9739c0cf9186_af258a57-ae15-4d9b-aa17-719f3d118ede_static_0_0_07022008-221427.jpg" width="3193" height="1023" border="0" /></a>

 

[Spectre2007]

why 10800 is critical

<a href="http://content.screencast.com/media/85d16ab4-fa4f-4755-aaa7-5016a18a638d_af258a57-ae15-4d9b-aa17-719f3d118ede_static_0_0_07022008-222402.jpg"><img src="http://content.screencast.com/media/85d16ab4-fa4f-4755-aaa7-5016a18a638d_af258a57-ae15-4d9b-aa17-719f3d118ede_static_0_0_07022008-222402.jpg" width="1423" height="1019" border="0" /></a>

 

[MrDODGE]

If we go under 10,800 I expect panic and a bottom.

 

[ByLoSellHi]

This is very true.

It's human nature to say "hey, this company is solid, is already down x%, and who the hell would sell, let alone not buy it here."

And then it plunges some more.

Mr. Market is one pissed off mofo.