dear Shmuck, Stock777 does not come in after the fact posing questions. He tries to point your pointy little head in the right direction. He usually fails, as he is working with very poor subjects.
âOctober. This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August, and February.â -- Mark Twain he starts with Oct for whatever reason...
Europe needs to finally do something about getting this problem finished off. If they don't, down we go. The past few days the dollar has repeatedly spiked higher. That is purely an artifact of European stammering. I mean, just to put this in perspective, their stress tests on their banks have repeatedly and accurately been characterized as being far more lenient than the ones Geithner ran. I can't even believe I wrote that sentence. Those fools need to be hit upside the head with a two by four. They have no idea what could happen if they don't face reality.
My plan for Black Monday is like this. Start buying incrementally after -10% move: 10% "BP" @ -10% SPX 10% @ -15% SPX 20% @ -20% SPX 30% @ -25% SPX 30% @ <-25% SPX (a discretionary trade) "BP" is limited in such a way as for the account to tolerate -10% adverse move in SPX (after the full position is in place). start covering after SPX rebounds to -5% from Friday Close.
What would best describe your stance heading into the coming week of trading? Bullish 25.46% 83 votes Bearish 64.72% 211 votes Neutral 9.81% 32 votes thestreet.com poll Black Monday Next Week? Yes 10 34.48% No 19 65.52% Total: 29 votes 100% Ok, the crash won't happen now that so many people are bearish.