Black Monday - Asia Markets down 3-5%, futures blood red

Discussion in 'Chit Chat' started by jreynolds212, Jan 21, 2008.

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  1. Well the TSX basically just crashed.
     
    #51     Jan 21, 2008
  2. jdkgroup

    jdkgroup



    I think globex opens at 1800EST, look under "electronic trading" at cmegroup.com
     
    #52     Jan 21, 2008
  3. holy shit!!


    why couldn't they do that the other day when i was short efa!!!!?!? GRRR
     
    #53     Jan 21, 2008
  4. No..this was not a random event..it is by design, just another big wealth transfer. So how many ma and pa will be rushing to sell 401K and other investment holdings (to go to cash) tomorrow morning after seeing this mess today. :eek:
     
    #54     Jan 21, 2008
  5. it is the same at the other CME indexes...or got to www.ecbot.com
     
    #55     Jan 21, 2008
  6. The DAX was up 21% I believe for 2007. What goes up faster can come down quicker.
     
    #56     Jan 21, 2008
  7. I wonder how the Arabs are liking their $100 oil now?

    And hats off to the SEC for eliminating the uptick on shorts rule. :D
     
    #57     Jan 21, 2008
  8. So "they" will be buying on this overreaction dip, and will sell when?

    Without hearing a news report on how the DJIA did today (since the NYSE was closed), I don't think Ma and Pa will be selling much of anything tomorrow (Tuesday) morning. Ma and Pa don't follow the DAX, FTSE, CAC, Hang Seng, Nikkei or any other foreign market. The average American is quite ignorant of the rest of the world (economically and otherwise)

    If the market doesn't fill the gap tomorrow (i.e. DJIA closes down 500+ pts), then you can expect some Ma and Pa panic-selling Wednesday morning, just in time for a turnaround later Wednesday.
     
    #58     Jan 21, 2008
  9. Only the CME was open in the USA. Stocks should open broadly lower tomorrow. I seriously doubt this is the bottom.
     
    #59     Jan 21, 2008
  10. "The average American is quite ignorant of the rest of the world (economically and otherwise)"

    the average american does not trade stocks. the VAST majority of americans who own stocks do so mostly or exclusively through mutual funds, and the vast majority of that ownership comes through dollar cost averaging.

    dollar cost averaging has never lost money in any 20 yr period. it has performed from decent to excellent in every one of those periods.

    the vast majority of traders lose money. the vast majority of investors do not.

    one of the #1 mistake traders make (it is a fundamental part of psychology) is extrapolating from the individual or niche group to the aggregate

    what holds true for traders - leveraging, in and out, etc. does NOT hold true for MOST participants in the stock market

    research the #'s if you don't believe, but the average joe is not daytrading CROX. he's buying mutual funds, usually twice a months with set amounts of $$$
     
    #60     Jan 21, 2008
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