I have been short for a bit and unfortunatly started covering most of them yesterday, finished them all up this morning. I was thinking about buying some of the names that are holding up and breaking out, GES, TOO etc but as I go into all the free chatrooms and message boards everyone is hollering about the blood in the streets and it kinda worries me. Those that are not jumping up and down about buying the blood in the streets are calling it 1987 all over again. It would not shock me if both parties get screwed by more sideways chop as this entire big move down has done nothing but bring us down to the bottom of the range we have been in for a few years.
don't you think a crash is exceedingly unlikely when the likes og GOOG and JBLU are up on the day on a day like this. It's just a failure for the RECENT pattern of "buy the bad news cathartic selloff" that happened after the these hurricanes IMHO. Those who bought the bad news are now holding the bag for real buyers... Q1
Since when did a 3% drop in the indices become a "crash"? The move lower in the oil sector though, now that is a serious correction.