so glad I added in shorts when the dow was up 200+ points the other day..... Im wanting to sell but I don't know what Monday is going to bring, we could have another nasty opening if we close at the lows of the day today!
Rememeber ZERO WAGE growth, where is the purchasing power going to come from, 70% of the US GDP is made up of consumer spending!!!!!
And a big part of the problem is that they can look at the last 30+ years and rationalize how every sell-off was an "opportunity"...the Japanese got a raw deal with all of their ZIRP and monetary madness...they still can't get the Nikkei close to those 1989/90 highs...and there's good odds the thing drops right back down to where it was 2-3 years ago.
yes sold(to close) a few puts about 15 minutes ago...I can't say that I'm pleased with how I've traded this entire downturn (Fed day was the perfect short location, but spreads were terrible) and it's been hard to get super aggressive shorting (at least for me).
Monday will be very interesting. Asia not really buying our growth lies... miners may drop hard, London probably follow through with an Asian drop (another Glencore story) If they try to bounce it here at any point leading to close I am going to hold decent shorts over the weekend LABU up 10% since open