Dow 9,900s on Monday
Black Monday ??
- Thread starter hank rollins
- Start date
trends are obvious in hind sight.
i am literally experiencing flashbacks to days before the major declines. its really uncanny. going fly fishing this weekend to focus.
if we get a really ugly close, it's quite possible that a crash is coming.
btw, it doesn't seem that the 89 crash was worse than 87 percentage-wise.
btw, it doesn't seem that the 89 crash was worse than 87 percentage-wise.
98 asian crisis crash bad too it think. it was prolonged pain.
i think 29 was probably the worst, but doubt anyone on these boards was there to experience it.
There simply wasn't enough bullishness at the highs for there to be the large leveraged long positions that are required for a downside crash, IMHO. Personally I think the weakness is getting quite obvious now, a down Monday intraday would be the perfect way to sucker in newbie shorts, and would coincide nicely with the possible 1140-50 support zone from the pre-election highs in Jun and October 2004. Add to this the fact that we have dropped 40 points in 3 days, and I think Monday or Tuesday is a good candidate for a temporary low. Certainly I like the idea of picking up S&P contracts below 1150 when we were at 1230 just 5 weeks ago.
IMO we are not entering a new downtrend, but rather another trading range from 1140-1240.
IMO we are not entering a new downtrend, but rather another trading range from 1140-1240.
Way too many Bears and put buyers out there right now to crash. AAII % of Bulls (%16) is at a 14 year low
In fact we're probably within a couple of sessions of a nice buy signal.
In fact we're probably within a couple of sessions of a nice buy signal.