this is insane. i think i am going to sit this session out till things get a little more calm. this volatility is just a killer. Haven't lost anything yet, i don't want to be a hero. Ill wait for the "easier" money.
there we go. now isnt that much better. I am sure some idiots had the urge to "catch that opportunity". easier now
Not going to watch the market today in the afternoon ... Notice good strong market bottoms always come from expanding day range with a finale melt down. e.g. 2% down, 3% down, then a 5% finishing move This time, we have 7%, then 5% yesterday ... not even close to the definition of an expanding range to the down side. With the 7% day as a yard stick, we need something in excess of that to call a good short term bottom. Since we hit 1026 this morning, a 7% drop from there is 954. If we do what Japan did yesterday at 10%, it is 923. If we end up going higher today, we then haven't seen the low yet for this swing.
Your stop order needs to be one of the first in line to avoid slippage. I generally don't get any slippage on a stop because I place the order well in advance. Even when moving the stop, I do it very early so that I am one of the first, if not The First, in line.
This is one of those WOW moments. I have never seen this before. A worldwide interest rate cut. Fed intervention into the markets i.e. no short selling allowed. Financial companies and banks going belly up. No more brokerages on wall street. What next the Dow closes down 2,000 points?
I think if we take out the overnight lows and fall a couple hundred below that then we might just as well see that happen. Again the Nikkie was down almost 10% last night!
I've never had a problem with slippage; I'm just amazed at the current market conditions. A record slip by a factor of 5 is a police escort to the sidelines...