-1.5% so far midday.... my personal bias is that we stay at this level into EOD but one never knows given the bad karma for Aug 09...
The day the markets fall quicker than they did in OCT 1987 will be a day no one is expecting, thinking that its going to come on this day or that day is pretty much a worthless guess. No one saw May 6th, 2010 coming, caught millions of people by surprise.
Actually, Pete Stolcers (options blogger) saw the move coming, but he thought it would be in June or possibly July. He kept warning in his blog that the PIIGS (Portugal, Ireland, Italy, Greece, Spain) were in dire straits and once the reality of the situation spooked the market, the sell off would be swift and sustained (it was both, first swift, then sustained off the bounce to reach new 2010 lows). He recommended well in advance of the May crash to have orders for put options prepared in advance, triggered as soon as SPY breached $118.
So how come when I goggle this to readup on it numerous links say Aug 12th? But I'm sure all those birthdays are correct. So that and the fact the bomb was dropped twice around this date ......... doesn't mean all that much to me.