Black Monday Oct 31, 2011

[iceman1]

Ok Nitro. et. al. ..... look into your crystal ball guys. Do we fill this gap down this week, tomorrow or next month, or never. We have island (reversals) on many equities that comprise the indexes; hard to figure that won't be resolved.

on the other hand st trends tend to last for more than 1-2 days lately..... or do they when they are to the downside in Q4

Don't whether to jump into some more longs, or wait.

what do you see... on NDX, etc.

 

[TGregg]

Quote from Wayne Gibbous:

Nitro "Missed it by that much!"

I'm probably the only one here who remembers Get Smart...

I do. I bet Nutmeg does.

 

[Ghost of Cutten]

Quote from mister_doodi:

MF shutting down and the Yen devaluing. Either he had inside knowledge or he is lucky.

Don't forget Papandreou doing the dirty today too!

 

[76132]

Maybe not a flash crash but the start of a huge decline? Nice job Nitro!

Man I just hope the market keeps on going down and doesn't recover until after Nov 19. All my money is tied up till then.

 

[nitro]

Quote from 76132:

Maybe not a flash crash but the start of a huge decline? Nice job Nitro!

Man I just hope the market keeps on going down and doesn't recover until after Nov 19. All my money is tied up till then.

Imo the odds are that the market "rings" for the next few days, perhaps even until next week. Ringing is a scientific term that applied to markets means volatile back and forth motion.

 

[spanish89]

I just hope so sooo much that the market touches 1204 before rallying again!!

 

[nitro]

Quote from iceman1:

Ok Nitro. et. al. ..... look into your crystal ball guys. Do we fill this gap down this week, tomorrow or next month, or never. We have island (reversals) on many equities that comprise the indexes; hard to figure that won't be resolved.

on the other hand st trends tend to last for more than 1-2 days lately..... or do they when they are to the downside in Q4

Don't whether to jump into some more longs, or wait.

what do you see... on NDX, etc.

I don't know what you just said. What I see on a day to day basis is in this thread:

http://www.elitetrader.com/vb/showthread.php?s=&postid=3345297#post3345297

What I saw that lead me to post this is perhaps once in a lifetime feeling, grounded in all the work that I do. It was an "educated" guess. Everyone that was short wished it came true, but really, it didn't. As I mentioned, now that I have seen the price action, tomorrow is the greatest risk for a real crash.

A mild crash is a 120 handle loss in SPX, the DOW losing 1000 points. Watch Italy and Spain. They are too big to rescue, even with ten trillion dollars. Everyone is talking about Greece, but it is completely irrelevant. The markets are trading on Italy and Spain now.

 

[newwurldmn]

Quote from nitro:

As I mentioned, now that I have seen the price action, tomorrow is the greatest risk for a real crash.

A mild crash is a 120 handle loss in SPX, the DOW losing 1000 points. Watch Italy and Spain. They are too big to rescue, even with ten trillion dollars.

Didn't agree with your orginal short, but I agree with this.

Tomorrow is pretty risky and I think the market isn't fully respecting what nut jobs in Greece (who have motives other than preserving the free flow of capital in the world) can do.

 

[jplazard]

Nitro, nice call i got to say at least you stick with the post and don't flee away if it was incorrect then come back a couple months later and say 'I told you idiots the market was going to fall' like someone who's post are a ghost town only for his intellectual viewing right now. lol

Either way nice trade and i hope you pulled some serious cash out with your call.

 

[iceman1]

Quote from nitro:

Imo the odds are that the market "rings" for the next few days, perhaps even until next week. Ringing is a scientific term that applied to markets means volatile back and forth motion.

I agree

and with weekly expiry pressures... might even open 'higher' tomorrow.