NDX down 9 days in a row, possibly 10 if today closes red.. Anyone know of a good market stat site? Has to be a record.
An excellent observation, Oh Rightly-Guided One. ESignal's data goes back to 11/7/90, and there were no longer down runs. The longest unbroken up run was 14 days starting 7/10/9. You have extraordinary powers of suggestion.
My math tells me that the probability of 10 consecutive down days is 1 in 1024, or once about every 4.5 years. Nasdaq is about 40 years old, so I bet this had happened about 10 times.
Yea I noticed that as well, went long QLD this morning at $50.30. Looking for a short term bounce back to $52+
Almost.. the 14th was a close loss.. Conecutive up days have been routine for a while though.. Well make that 10 days.. powder keg fermenting.
You "should" be ok.. all comes down to money management.. not assigning more because of the statistical odds as the day you load up is the day there will be 11 down days.. the 11th being a "flash crash", vaporizing your stash.
If I'm not mistaken, if you count yesterday, isn't it 11 days down in a row? That means one of two things a) The market is oversold and will bounce b) Someone knows some bad news and when it is released the market will TANK. Now place your trades off of that analysis folks!! hahhahahah
And a huge opening for stocks this morning, especially for QLD and USD!!!!! I do want to sell this morning, but I believe momentum could carry into the rest of the week, that momentum being upside.
Least I know I can sell off a couple of longs I purchased Thursday and Friday before the that next huge drop vaporizing my stash, which should have happened today.