Why would you chase after a 200 pt ES move... especially in August?
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Biggest hammer evAr today
- Thread starter 1a2b3cppp
- Start date
Why would you chase after a 200 pt ES move... especially in August?
Markets can crash in August. Why not? Everything's possible in the information age. New trading techniques and instruments can have unknowable effects. Could drop 1000 points tomorrow. 5000 points by Friday. Why not? It's not like we're protected by laws of nature. P/E ratios, TA, none of it means anything when mass panic strikes.
The fcuking media don't help with their OMG reporting and their rationalizations for a crash.
The fcuking media don't help with their OMG reporting and their rationalizations for a crash.
Quote from Lojanica:
No!!! We are going to have a gap down then we are going to snapback. This is a washout soon. 1050-1076 is MAJOR Support.
Major support until it's penetrated - then it's major sell signal. 2008 is fresh in our memories; even if the current situation is nothing like it was then investor anticipation (fear) can make things ridiculous right quick.
God I hope you're right, though.
Quote from Hansel H:
Major support until it's penetrated - then it's major sell signal. 2008 is fresh in our memories; even if the current situation is nothing like it was then investor anticipation (fear) can make things ridiculous right quick.
God I hope you're right, though.
Very few saw 2008 coming.
Now everyone is bearish on this 2011 drop.
When we forget about 2008, that's when the chaos will come.
FoN
Quote from FreakofNature:
Very few saw 2008 coming.
Now everyone is bearish on this 2011 drop.
When we forget about 2008, that's when the chaos will come.
FoN
I hope contrarian logic applies here. I was long this morning and instead of bailing on a loser I averaged down. I need a turnaround. GL
Quote from Hansel H:
Major support until it's penetrated - then it's major sell signal. 2008 is fresh in our memories; even if the current situation is nothing like it was then investor anticipation (fear) can make things ridiculous right quick.
God I hope you're right, though.
This has been a very controlled sell-off. No circuit breakers (in the US) Sure the wheels can come off or we lose power and nosedive but the most likely scenario is the pole in the dirt in the spus at 1077 is very near or is support for a relief rally which also gets sold but those in pain from the latest carnage will have an opportunity to bail. I doubt it sticks because usually you need a test and 2nd attempt to make any real headway but what we get is what we get.