Black Monday

Um... I wouldn't lose sleep about it in the United States. Most of the things mentioned in the article are currency-related, and structurally impossible in the US by virtue of the fact that the Dollar IS the world's reference currency. In a very real sense, it's like having a gold standard AND the ability to make as much new gold as necessary.

As Mel Brooks once said, "It's good to be the king."
 
Stick with DIA or QQQQ 1 month - or less - ATM straddles/strangles and you will do OK.





forex-forex :)
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Trading guru
2008 7 figure income
 
First, if Obama continues the move to Nationalize Banks, the shareholders could be wiped out as well as the bond holders.

We will have to wait and see.

Second. The rally at the last 20 min of the close on Friday was a sharp snap back. But nothing close to a reversal. I am suspect to the rally.

1. During mid day, the market keep trying to sell off hard, but just couldn't do it. The pressure and risk-reward was to the upside after the 3 or 4 attempts to sell off failed midday.

Second, the first wave up, short covering. However, the buyers decided to jump in and hence the two other waves up, as well as more short covering. The majority of the rally....Short covering IMHO.

Nobody wants to go short over the weekend when the the INDU sold as hard as it did that week. The "RubberBand" is so extended on the selling that,when the snap back comes, it will be far more violent than Friday.

Shorts covered, some bottom fishers jump'n in Im sure.

Monday, will not be black monday, short week next week, so more like CHOP sideway moves are in the forcast.

After Thanksgiving, we could see some serious downward pushes to test the lows of the past week.

Things are getting worse by the day, things are far more worse than many thought, just two weeks ago.
 
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Quote from EMRGLOBAL:

First, if Obama continues the move to Nationalize Banks, the shareholders could be wiped out as well as the bond holders.

We will have to wait and see.

Second. The rally at the last 20 min of the close on Friday was a sharp snap back. But nothing close to a reversal. I am suspect to the rally.

1. During mid day, the market keep trying to sell off hard, but just couldn't do it. The pressure and risk-reward was to the upside after the 3 or 4 attempts to sell off failed midday.

Second, the first wave up, short covering. However, the buyers decided to jump in and hence the two other waves up, as well as more short covering. The majority of the rally....Short covering IMHO.

Nobody wants to go short over the weekend when the the INDU sold as hard as it did that week. The "RubberBand" is so extended on the selling that,when the snap back comes, it will be far more violent than Friday.

Shorts covered, some bottom fishers jump'n in Im sure.

Monday, will not be black monday, short week next week, so more like CHOP sideway moves are in the forcast.

After Thanksgiving, we could see some serious downward pushes to test the lows of the past week.

Things are getting worse by the day, things are far more worse than many thought, just two weeks ago.
More...

Yea this market is like a compressed spring. It can suddenly surge 20% in a week and getting caught short would be catastrophic. Those on 3-1 margin last friday who stepped away from their computers at 12:00 to call it a day were later greeted with an 18% loss.
 
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The case for a rally isn't that the fundamentals all of a sudden are getting better, or that the situation is in any way turning. It's rather that the market is pulled very far down very quickly, in other words terribly oversold. The negativity has lasted so long and depressed so many, that a pullback to the upside is more than overdue. Long term the market is shit of course, but from a traders point of view the greatest potential should be to the upside. But holding overnight - Friday was not enough to convince me of taking that chance.
 
Stock, you START a thread saying we need to bail out ford and gm (idotic), and then say citi and gm could both go under and it wouldn't matter to the index because of their low prices? You are so incredibly stupid, you contrdict your own thread. Please live up to YOU'RE promise and leave et
 
Quote from frank grimes:

Stock, you START a thread saying we need to bail out ford and gm (idotic), and then say citi and gm could both go under and it wouldn't matter to the index because of their low prices? You are so incredibly stupid, you contrdict your own thread. Please live up to YOU'RE promise and leave et
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Just put him on ignore. I find the guy hilarious.
 
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