trust me you will be able to buy this a lot lower in due time.....even it jumps to $150 or $200 it will drop right back down
Im still wondering how its possible the markets haven't broken that low yet....the dow should be under 15,000 by now!!!
My guess is the big boys sold portfolio protection during the Aug crash, so they will try to keep this propped up until those puts expire worthless.
Whilst investment firms do realise that corrections are part of the game, they don't like them, as they mostly invest/trade long side of equities. So far this is a corrective cycle with an average correction being around 20% they still mostly observe the market from the buy side. Only when & if S&P sheds 20% & locks below it, that's when directional volatility will increase dramatically.
yea its levitation because many individual components are crashing right now.. financials looking sickly..JPM almost down 5%
this is why other indices should be considered when shorting...the SP500 has stuffed full of mega caps that funds will rotate into 'cause they are safe lol