Black Monday ??

illiquid · Apr 15, 2005

Quote from Apex Capital:

Hey Ice . . .
How do you think those IBM market-makers in the options pits feel? They have got to be so freaking pissed that they feel like getting ahold of an AK. A total hose-job for them.

Or how bout DNA 2 months in a row?!?

Apex Capital · Apr 15, 2005

Quote from Pabst:

89 sucked because it came out of no where. A slow Friday and then WHAM! All started because UAL was halted on news of the employee buyout failing. Scores of premium sellers were knocked out of the box.

Very true.

chrisofj · Apr 15, 2005

I can only think about how slow the rest of the world can be to pick up on a market decline like this. I mean a sell off like this week to me is big news it would be on headlines of newspapers lol.

So I just wonder when grandpa gets done scratching his head and decides maybe this isn't the best year to be in the market and calls his broker. Dow 9,900 article in Time is about when I'd think about long, but I don't know I don't have a lot of experience.

I do have a short bias in index trades wooo hooo so this is kind to me.

LondonUSTrader · Apr 15, 2005

This seems a pretty serious selloff, more serious than I can remember in a long long time (although I wasn't around in 89 or 87).

Question: when were the last 3 days in a row which were clear downtrend days and the Dow lost 100 points each day?

I can't remember 3 consecutive days like this in a long long time. Perhaps someone can tell us when this last happened.

It certainly seems pretty serious and very unusual.

Apex Capital · Apr 15, 2005

Quote from chrisofj:

I can only think about how slow the rest of the world can be to pick up on a market decline like this. I mean a sell off like this week to me is big news it would be on headlines of newspapers lol.

So I just wonder when grandpa gets done scratching his head and decides maybe this isn't the best year to be in the market and calls his broker. Dow 9,900 article in Time is about when I'd think about long, but I don't know I don't have a lot of experience.

Those quarterly reports just went out, so I'm sure that Grandma and Grandpa are taking a seriously look at them . . . As to anyone that has Internet access . . . it's already the HEADLINE STORY ON YAHOO:

http://news.yahoo.com/news?tmpl=story&u=/ap/20050415/ap_on_bi_st_ma_re/wall_street

Now all we need is to see INTC guide lower on Tuesday and that will give us the capitulation we need for a trading low. I'm not looking for a Black Monday, just 1126/1124 in the SPX.

T-REX · Apr 15, 2005

Quote from LondonUSTrader:

This seems a pretty serious selloff, more serious than I can remember in a long long time (although I wasn't around in 89 or 87).

Question: when were the last 3 days in a row which were clear downtrend days and the Dow lost 100 points each day?

I can't remember 3 consecutive days like this in a long long time. Perhaps someone can tell us when this last happened.

It certainly seems pretty serious and very unusual.

August 18th -thru- Sept 29th 2002

T-REX · Apr 15, 2005

also more recently. 3-8-04 - 3-11-04

T-REX · Apr 15, 2005

Also on 1-14-03 - 1-23-03

I think you get the point.

This is not all that unusual.

LondonUSTrader · Apr 15, 2005

Well, according to that article posted above "With Friday's losses, it was the first time the Dow lost 100 points three sessions in a row since late January 2003. "

I would actually call it pretty unusual when it hasn't happened in over 2 years. At least from an intraday perspective.

Rearden Metal · Apr 15, 2005

Got long AAPL at the close, to sell right at the open when it opens a bit higher Monday...along with the rest of the market IMO.

Check out one of my favovorite contrarian indicators, what I call the 'moron index' (Yahoo message boards). Almost all the posts are bearish:

http://post.news.messages.yahoo.com.../wall_street_18&.sig=iljKLISOE.Po3heFvL5CZA--