I really wish we would see that happen, and stay there for a year or so, until the rest of our markets could also be corrected, instead of propped up by government intrusion. Make it 4000 points off.
Yawn .... I'm still holding my financial shorts established in 2007 and earlier this year. From my crystal ball, I find it hard to believe that equities will be down tomorrow, regardless of what the jobs report provides. Monday morning the S&P futures were above 1300, with an intraday low at time of writing of 1236.50. Although I think there is a lot more downside, VIX +12% to 24.00 is one indicator (of many) that suggests that this is overdone on a multi-day timeframe. Edited to add: One possible reason for the size of today's decline is the huge air pocket below S&P 1260. However I think 1250 will happen before 1230.
so what about the move down from 1300 to 1236.50? that's alot of downside movement. you just don't rally back from that right away. and if you think that there is more downside why hold onto losers? who's to say how much lower we go? it seems to me that your letting your losers run?
I'm confused by your comment - I am continuing to hold my short positions in financials, that I had last weekend, and in the weeks and months preceding that. i.e., I am letting my winners run, not holding on to losers as you suggest.
Only fools are overleveraged, and nobody cares about this fools; not even themselves. Even a blind could see that this is a choppy, consolidation market. It's stupid to be overleveraged here. The real big players: banks, pension funds, mutual funds are buying now; but only below certain levels.
It has been worse. Much worse is an inverted yield curve. When this happens investors don't see any profitable opportunities in the long run (some years), so they grab long term bonds while they can.
I am! But then I am also getting f*cking killed. They are system trades tho, and, overall, I will win. That is...if I don't go bankrupt first!