Best explanation for today?

Why do you call the inevitable a black swan?

I bought a load of ashr last year on hearing 2 billion had been opened in retail accounts in one week alone. That had bubble written all over it. Arent I clever? Unfortunately not, as I sold out way too early. Could have done 3x, so should have at least got 2x. Hindsight eh? It had to pop though. I dont bother with stocks anymore.

The stupidity of the lil' commie bastards trying to prop the mess up last few weeks will have hurt them bad. It will only hurt them further down the line.

Here's a tip for you in future reference: As soon as you see increased distribution and infrastructure channels opening up, get the hell out of dodge.

Recent examples:

Past: Gold a few years back - loads of adds all over TV offering to buy unwanted gold jewlry.
Present: HKex opens Shanghai stock connect link to give foreigners access to the lil' commie market...
Future: Any ideas....?

 

I am not a day trader so just interested or curious to ask those who follow the market more closely. Checked on my phone at lunchtime in europe (6am in NY) and it was lower by a few % but nothing dramatic and China was already open and down by 8% by then.

 

yeah, but we were expecting PBOC to make a move on their close. When that didn't happen a lot of computers panicked.

 

• Today's market (and Friday's) was a "black swan" event.
• No ET or media chatter beforehand.
• Lots of ET and media chatter during and after.

 

So, it's the 8th largest point drop in history, And the 10th largest was Friday

 

What's hilarious is the idiot who keeps posting "Black Monday" threads was a no-show.

 

Seriously why does anybody care about point changes? It's percentage changes that count.

 

Yep, I'm one of those that needs to know why too. It provides critical information for my market context...helpful for the past +25 years especially since 2000 with everything so damn globally connected more than ever in the history of the markets.

If I don't know what's going on with the market context...I stay on the sidelines. Just as importantly, if the price action is confusing to me...I stay on the sidelines.

 

the media cares, because a point can mean a new record

 

If you say so.

I thought black swan events were supposed to be 'out of the blue' events. 3 SD type stuff.

I guess one could argue the severity of the decline was a little surprising, but a decline for anyone who follows world events certainly wasnt.

Perhaps a black swan only exists in the eye of the beholder? After all, the name sake black swan wasnt a 3SD event for the Aboriginals who would have been seeing them every day.