The DOW has fallen 1403 points in only the last 5 days. Down 5 straight sessions in a row. That is a 12.9% drop!!!! I predict things are gonna get alot worse. This is only the beginning. People are gonna see that their portfolio lost 13% in only a week and sell. Sell sell sell sell. I think well see 7500 on the DOW. This recession just got alot worse. This one is gonna be long and deep. We will have entrenched inflation when we come out of it too. The markets are toast.
Someone I know works at a well known entity is telling me that they have never seen so many redemption calls per day. This is why you are seeing this extended and long drawdown. I asked him who? And he told me the majority are people in their late 50's. At this burnrate you should see dow 7600 in 2 weeks.
In 1982 the dow gained 30% in a few months, which was the start of a huge bull market. It added 16% in just a few weeks. A lot of shorts seem to forget that when the market rebounds it rebounds huge, and there is virtually no warning. It just happens. http://www.fiendbear.com/bear1981.htm A 30% gain now would be 12300.
The problem is the longs are waiting for a super cheap entry point. And the way the market has been falling today's closing price of 9,447.11 doesn't look like it. There is a complete lack of buyers. There are only sellers like mutual funds and hedge funds who have to sell due to customer redemption.
A lot of longs blow up on the way down, but a lot of shorts blow up by overleveraging into a new bull market. The problem is deciding when to take your profit.
whole system collapse lose all ur money in the markets so what?? just work till u die. life is suffering. accept it.