No floor. No way. Not even close. Mutual funds are going to get WHACKED. Hedge Fund liquidations. Commodities are going to get a third, tidal wave of selling. The good will have to be liquidated to pay for the bad (which is gone already, like a fart in the wind.)
Amazing but true. It looks like the market is readjusting to a new level maybe sub 1000 and will be there for a while. If people are hoping for a big bounce they will probably be dissappointed. A 50% retracement looks on the cards with earnings season coming up.
Oh, and flytiger made a great point in a thread today about 'just wait until retirees, investors' get their quarterly statements from institutional brokers. There will be much, much more panic to come.
Retirees are not sitting in stocks. They're mainly in bonds. You post so much junk, after the fact, that it's humorous. I personally love those who are late to the party. Or should I say that traders love the moronic retail perspective. Who cares if the market goes lower? Or higher? Good traders make $$$ and anyone worth anything has outperformed the buy& hold mentality the past 7 years (since 9/11).
Ummm....yeah. Okaaay. You must have missed the /investors in the 'retirees/investors' above. 'Investors' include anyone currently working and not retired with a mutual fund, 401(k) or even esop. But whatever.