Let me clarify my outrageous statement. I believe the evil is intervention. Let it limit down 2 DAYS IN A ROW without exit. That will reward those with the cajones to pony up to the bar.
I know. I can appreciate Lescor's performance, and I'm sure some guys just lit it up yesterday. But Jesus. The way I saw it at the time, there was a good chance we got halted, and gapped down hard today. I wasn't going to take the chance.
Wall Street hoodlums need a crash to re-load. This story gets repeated over and over. Know your adversary.
Since March '09 low, S&P500 has retraced back to .618 Fib retracement level @1,200 points. A sort of crash like Thursday's was inevitable. Of course, the significance of the recent crash is that there are no buyers left. Most investors are near 100% deployed in the market.