Black Monday Oct 31, 2011

The MF global bankruptcy and the fact the Interactive Brokers deal fell through, may mean forced liquidation of positions. It won't happen today, but it will cause dislocations, and if traders smell blood, they will trade in front of it.

Italian bond spreads widening to dangerous levels.

 

thanks for the LOL

(but the day is not over yet.... ?? :-( )

 

the first of a month is usually strong... with 4Q and Thanksgiving month. So it's hard to handicap a large move down... if we don't rally late and do see continuation tomorrow.. then late Tuesday could be significantly higher

Then again, the chart does look vulnerable for sure... unless its in the cards to make new highs rather than reverse.

 

You forgot the first rule of soothsaying - predict an event or predict the date something big will happen, never predict both.

 

So the market will go down unless it goes up?

 

LOL

Yep... that's about right! That's the best I can do at this level. Gaps above and below. No way to know which way is next.

All I know is I have Nov18 125p on NFLX (entered at 15) and the POS is only down -2 today. What do I do. Sell premium at 80p strike, take profit or buy stock

 

SPX down 2,47%.

Maybe not Black Monday, but hey, at least it was down.

What about tomorrow?

 

Not in this case. He's saying it will go up unless it goes down.

 

What does nitro's wife make for dinner?

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