I'll bet you did! No -- I'm doing OPM right now, and precluded. (AND THANK GOD.) But, were there a long-equity portion (down the road, down the road) BOY-n-howdy, I'd be buying this dip -- at least below 2675! Jeeez. Just to remind our newer viewers, that fat yellow line sits ~20pts atop a 2+ year trend, and we're goodly below it -- enough that I would push a Reversion To Mean trade to the positive, and again, especially so if I could buy below 2675. Right now, I'm dancing the option-sellers dance: "avoid the bite, find the meat."
That was about the most orderly, 1000 point YM Dow Mini Futures drop you can have in 8 minutes. Chart below is in 10 second bars. Triggered stops didn't get horrible fills in this unlike some of the flash crashes of the past.
http://www.foxbusiness.com/markets/...ggest-one-day-drop.html#&_intcmp=hp1bt1,hp1bt ...also, something about some memo???
In truth, I think it's fair to say that AAPL, XOM and CVX having disappointing earnings at the end of a +5% month is not really a nothing-cause.
but is there a place for the judgement in trading? sure it is - judgement is very useful in how to apply one's method to current, maybe extremely complicated situation... and sometimes it is right call and sometime is not... but let go further.. lets assume we dealing with the maverick, the genius of trading , the alfa, the one who making judgment calls as the further extension of one's past rules, the unverbalized version of the method, the intuition in its finest ! but even if that is what we dealing with , then again the genius will have many judgment calls during the day: down at the opening, then up , then maybe again down... why many? because market presents the opportunities, and the genius will take them rather than sit as stooge waiting for the realization of the first call of the day by its end
Or not. Liz Claman (of FBN) : This sell-off has multiple triggers, but separate news storms are coming together in sort of a cosmic crash to swamp the markets. At 3 p.m. straight up, it’s our job to explain that dynamic in a clear and cogent way to our viewers and bring in as many expert voices as possible. The Republican FISA memo may be a sexy angle, but the stock market gapped down the minute the opening bell rang not because of the memo (which hadn’t even been released yet) but because the Labor Department released a very strong January jobs report. Why would good news be bad news? Because the markets get nervous if they think the economy is strong enough that the Federal Reserve might raise rates more aggressively this year than anticipated. + + + BTW I don't watch either talking head business network channel FBN or CNBC.
I actually don't watch or read Fox regularly. Was just checking to see if they were still whipping that memo horse. My point was that the article used the word "historic"...