Black Friday

[HolyGrail]

Quote from Ivanovich:

Normally I'd agree. But to say there is a bottom is to say that we've seen the last fund freezing assets, or the last bank claiming difficulty with subprime.

Have we?

I agree. Until we know the extent of the bad news this market will drop.

 

[blackbook]

so far indicating 100pt gap down. curious if we gap down and crawl up or just have lateral movement.

 

[HolyGrail]

Quote from kinggyppo:

I find irony in all this. Every day for a year we have heard about the sub prime mess which was ignored by the market. Really what is different from a few weeks ago when ES was at $1560.00. I am just pointing out how now this story is the reason for the downturn, seems like a bs shakeout to me.

The kind of days we are having are obviously not normal. You have major firms using automated trading models that work on a day-in and day-out basis with normal volatility and direction. There is a forced liquidation in assets that were actually doing well to cover the losses. It's a death spiral that eventually will end, but who knows where.

 

[uptik2000]

Quote from Ivanovich:

Normally I'd agree. But to say there is a bottom is to say that we've seen the last fund freezing assets, or the last bank claiming difficulty with subprime.

Have we?

Even better signs of a bottom:

1)CNBC doing a piece on "how to short the market" Maybe if Maria highlights Pro Ultra Short ETF or something.

2) My Dad calling me and asking, "should I sell?"

 

[blackbook]

lol.

 

[jamjob_ramjet]

dont turn around

the Komisar's in town

 

[Ivanovich]

Quote from uptik2000:



2) My Dad calling me and asking, "should I sell?"

LOL!

 

[jamjob_ramjet]

everyone being sure that panic is the sign of a bottom can actualy be a sign that a bear has started

we are still very close to the highs

 

[Ivanovich]

Quote from jamjob_ramjet:

everyone being sure that panic is the sign of a bottom can actualy be a sign that a bear has started

we are still very close to the highs

But what if everyone is thinking like that? What if everyone thinks that everyone is thinking that way, and because of it everyone acts the opposite? Or perhaps everyone knows everyone will act the opposite and will therefore do the other thing?

See how stupid this gets?

 

[S2007S]

Over 200 billion dollars being injected to markets worldwide in the last 24 hours. Even some thinking that the rates drop to 4.75% by September. I guess the PPT does exist, seems an 800 point dip in the DOW and cry babies come out. I dont comprehend it. The markets are up over 100% in the last 5 years, a small dip of only 6% and everyone bitches as if the market cant go down....The markets brought this upon themselves. Why intervene with the problems the markets created on their own.