I make my living as a trader too, but my thoughts are certainly more on the families of the astronauts than on how the markets will react. Trading is my career -- but not my life. In fact, over the past several years I've made a conscious effort to "not" let trading consume my life. Since I've restored the balance in my life, I've become a better trader -- and a better person! dog
Event risk is an element in trading, ignoring it is suicidal. In the current climate, a BEAR, and 9/11, it would be prudent to expect a bearish impact on the next week's trading due to this tragedy.
In a nutshell? The losers. Dang! I can't handily find it, and I have finally wore out the binding in my hardcover Atlas Shrugged (this dang book has *way* more pages than you'd think, once you have to pick them up off the floor). It's a book club edition, which explains why it wore out after only a few dozen readings. Anyway, d'Anconia is talking to his old man about his latest "unexcused" LOA and how he raised money to buy a copper mine. Franco tells his dad that he made it (the money he used to buy the mines) in the market, and it is relatively easy to tell the future successful companies from the losers. He says something about the successful companies following a clear application of a sound philosophy. Too bad I don't have the quote. The point follows nicely to my Ignore list. It's people I'd short if I could.
On September 11, 2001, the traders in the South Tower of the World Trade Center, being the first to see the plane strike the North Tower, were among the first ones to whack the S&P futures. nitro
Shame their reflex action wasn't to flee the building as soon as possible, instead of trying to profit from the crash.