biggest sell off in quite some time, markets always fall faster than they rise. s$p has broken 1115 area....lets see what happens by the 4pm closing. The bulls can come right in at 2:30 and buy this market into positive territory.
Yea, I think a bounce is coming as well however who knows what the upside potential is, I think there is more risk at Dow 10500-11000 than reward going forward. I'm sure the markets will gain back 2/3 of these losses over next week. This however feels like a real market now, all those days of straight gains followed by all these bullish calls was enough to tell you it was time to start selling, some people get too greedy when it comes to just the thought that markets can keep going higher and higher without any potential pullback. The rally this market has had, up over 70% from its lows during the worst credit crisis in history doesn't make much sense, but when you have trillions of dollars being pumped into the market anything goes I guess.
Going long the vix not such a great move after all. You would have been wise to simply follow my advice on the thread.