Black Monday - Asia Markets down 3-5%, futures blood red

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Moderators, Please rename the thread "Black Tuesday" It is now time for the American stock markets to grind to zero. Hang on to your hats folks. Asia right now is in the deep red. Nikkei has lost about two years of gains and getting set to tank down another 5%.

Hang on folks. That time is now, its here. Hope you went short last week otherwise you in the house of pain this week.
 
Quote from Rearden Metal:

With spooz down a whopping 4.8% on globex, if you have a futures account the only stupid & crazy thing one can do, is to NOT to get long right here, right now!

They'll be down 'only' 3.5% at some point before Tuesday's open... and that's if the Fed <b>doesn't</b> step in.

(ES currently trading 1261.60)
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I took your advice and went long since surely a millionaire trader is always right and now ES is limit down at 1255. How do you suggest I exit this trade ?


:mad:
 
Quote from volente_00:

I took your advice and went long since surely a millionaire trader is always right and now ES is limit down at 1255. How do you suggest I exit this trade ?


:mad:
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sell some YM that is about all you can do now
 
Thanks rm,

after being limit down and not sleeping all night I just sold at 1313.

Now I know what it feels like to be a true gambler and live on the edge.
 
"ooh, there's so much cash on the sidelines! It has to find its way into the markets eventually!"

Goodbye, worn-out, tiresome, useless catchphrase not just of 2008, but the last 3 decades.

2009 is no year of chance. Those lucky enough to be liquid will not trust Wall Street with their money, nor will they trust governmental agencies to provide any protection, stimulus or transparency.


2009: The year those with cash to deploy took their ball home and sat the game out, completely, forcing more selling and triggering more redemptions...and ugly thing, especially as unemployment skyrockets and the economy goes to shit.
 
Maybe this is why we dont see Rearden Metal and Volente post too much anymore. I think they went long somewhere in the 1200s.

Quote from Rearden Metal:

With spooz down a whopping 4.8% on globex, if you have a futures account the only stupid & crazy thing one can do, is to NOT to get long right here, right now!

They'll be down 'only' 3.5% at some point before Tuesday's open... and that's if the Fed <b>doesn't</b> step in.

(ES currently trading 1261.60)
More...
 
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