Black Monday

oldtime · Oct 20, 2012

Quote from Lucrum:

Black Friday, September 24, 1869 also known as the Fisk/Gould scandal, was caused by two speculatorsâ efforts to corner the gold market on the New York Gold Exchange.

and they just about did it

oldtime · Oct 20, 2012

the Hunt brothers almost did it in silver, they even had their aunts, uncles, cousins and their daughters long to avoid the position limits

The problem with cornering a market is

There is nobody left to sell to

OK, you got me, but then again, I don't really need silver that bad

failed_trad3r · Oct 22, 2012

Where is the crash???

oldtime · Oct 22, 2012

Quote from failed_trad3r:

Where is the crash???

oh, are we still doing that?

MKTrader · Oct 22, 2012

Quote from failed_trad3r:

Where is the crash???

It's trying to find the rally, which has been MIA for the last few weeks.

bond_trad3r · Oct 22, 2012

With an hour to go it looks like Black Monday has been averted, for now. Posts to resume next Friday - same subject, same thread!

Daring · Oct 22, 2012

The Black Monday calls in ET are extreme high accuracy if you fade them.

MKTrader · Oct 23, 2012

Quote from failed_trad3r:

We are not crashing next week, put your rally caps on.

Thanks for the tip!

failed_trad3r · Oct 23, 2012

Quote from MKTrader:

Thanks for the tip!

This might be the buy of the year. Or at least a bear trap. I believe.

MKTrader · Oct 23, 2012

Quote from failed_trad3r:

This might be the buy of the year. Or at least a bear trap. I believe.

So those calling for a crash were idiots (granted), but those calling for a rally (as the Dow falls 180 points) were somehow right?

Amazing how people rationalize things...