Someone please explain to me how you can call a market not even down 20% off ridiculous highs as washed out? Not saying we cant have another one of those ridiculous ramp ups eod, but washed out? Were you people around in 2000-2001? Now that was washed out. At the bottom, people were just puking up EVERYTHING. There will never be a true bottom even if the market is down 500 and you still see an AAPL or RIMM hardly down or positive. The real bottom of this mess will be obvious to seasoned traders. Not only will there be blood in the streets, there will be entrails and body parts all over. Only then you people can start calling bottoms. Even then, I guarantee most of us will be a bit early.
Exactly right. Many think that once the market drops 20% from its peak that there is some sort of bottom in place. Look at the NIKKEI 225 back in 1989-1990, traded around 38,000, today: 12782, thats off about 65% from its high. I could see if the DOW was around 8500 or even 10k but 12k. The markets are (WERE) up over 100% in the last 5 years and people worry about 20% drop.
i remember this...nasty ugly.....guys in my room that had made millions in prior years where shitting blood..i kid you not...peace thats when the barber , the bucther and the baker went back to their regular jobs...when we hear someone at at bright just came in and went postal...then maybe we hit bottom
Don't u know by now that starting a thread on ET to make a market call is the kiss of death? Please feel free to flip and go short, no loyalties here, we all would understand
my stop on the q's here is 41.50, definitely heavy selling here so lets see. I'm not calling THE bottom, but I still think one will be put in today for the next few days or weeks
damm sold too early... esp MON.. also sold RIMM n AAPL early.. should have waited.. oh wth... market goes down 300 + today i think...