I couldnt have picked a better time to state this... the day the decline started. Told ya so just doesnt seem to cut it...
3 stooges been wiped out? I hope it bounces hard to keep them in the game so i can see whether they ever learn their lesson!
That's not what I said. This bull market is not going to end because China had a bad day. It's not any one thing that will sink the market.
Like I always say... Short the Crash. Bank the Cash! Did Dumping markets Bust a Vein? Sell 'Em Hard and Ride the Train! Did Thorny finally get it Right? Sell this Junk and Take a Bite! Naz get Slammed for -3%? Short some More and Make some Cents! Just kidding. I'm buying. A little now and a little later. Good luck to all.
<i>"This bull market is not going to end because China had a bad day."</i> The tired ascent will end when buying is exhausted. The ES traded 1444.50 on 12/15/2006 (as I've noted too many times) and right now prints 1425.50 as I write. There has been no volume, no buying pressure in the biggest 500 for past 2.5 months. By the same token a lot of air pockets left on the way up are getting filled today in one fell swoop. Bulls are exhausted, need a long rest
Just to add fuel to the bear case - volume on the run ups for the past two months has been WEAK. Volume today is off the charts. Some have argued the point with me, but I say that demonstrates manipulation by longs in thinly traded levels the past two months. Wicked plunge on heavy volume is just another arrow in the quiver of the bears.
Now, you listen to me! I want trading reopened right now. Get those brokers back in here! Turn those machines back on!