Market Meltdown in October?

i wish i were...

 

i won't be surprised if we erase opening gains by close. I would like to see VIX ~35 to mark the bottom.

 

think we can make it out of September?

let alone make it to October>?

 

DOW 8000!!!!!!!!!!

When?

 

we will make it, but not all of us.

right now (~2pm ET) since open: spy +0.5%, xlf +0.05%, xle +0.5%. it is hard for buyers to get motivated at this point. and things could really get ugly fast as the close approaches and nobody wants to hold overnight.

we have to have a strong +close to even hope for a short-term bottom IMHO.

 

closed (change since open): spy -1.4%, xlf -2.5%, xle -2.5%, vix ~31

now the 64K question is how many longs are still trapped after today.

 

nice turnaround today. but we are not out of the woods just yet. i am giving this market no more than two weeks to revisit the bottom (and to dive lower).

just in time for the october crash

 

Shortie, i think you are likely right. Something extremely odd about this strong close today, as if the market is just thumbing its nose at disaster, and in the face of the Fed holding the line on rates. Could the fact that Friday is triple witching have something to do with this?

 

Where's the "drops/rallies more than 15%" option?

 

sorry, i did not think we could have giant swings like that when i posted the poll.