Ditto. Frisky wants to argue the significance of "5%". What if we were talking about 10%, or even 6%? What's the meat of the argument? (If all he wants to argue and thinks is significant, "you've got Swiss cheese memory, old man"... well, I can't argue.)
We have been getting plenty of down 2% days. To me thats worse than one or two down 10% days. This market was artificially held up by ridiculously low interest rates and stock buy backs.
It means you were proven wrong. Just step up and say I was wrong, instead of arguing the arbitrary merit of -5%.
I am going to look those dates up if I can. It's you making an ass of yourself over this. You are arguing minutia while disregarding context. (If I had initially said, "no single day drops of -10% except '87", or even "few if any -5% drops", the context would be the same and you would have nothing to be nit-picking about.)
I think we'll see ~$200 SPY before people truly despair: https://www.elitetrader.com/et/threads/spy-chart.327169/#post-4762517
Not so much the Taper Tantrum, but the Trumper Tantrum. 2350 is when the S&P will normalize with it's historical p/e. We really should save all the "Crash!!?!?!?!" talk until we're 20% below that. (That's 1880, for anyone counting...) I mean, if actual market *history* means anything.....
My guess for sometime in the first 6 months of 2019. About 2 1/2 years of value accepted and rejected from this area. Just keep this volatility coming! BTW, I am not a bear, I just like it when the market goes down.