What's interesting is that for the past month or so as the market as been tanking, we've never had a gap limit down to scare the crap out of everyone. It has always been a flat to slightly up open every morning then end of day tank. We will never bottom if this continues. What would be nice is to see a 500+ pt plunge on the DOW at the open and a huge gap down on GOOG. Then grid up all day...
I was there in 87 and the similarities are amazing BUT then we didn't have a nuclear exchange pending with a psyco dictatorship to contend with !!! We are set up for a massive correction in my opinion !
The major Foreign Markets dropped ass today. Déjà vu anyone? Maybe I was wrong earlier in this thread... But probably not... Oh, well. I'm on vacation.
Markets are hanging by a thread, especially the Nasdaq and tech stocks. I think everyone is waiting to see how earnings will look like in the next 2 weeks. If it is confirmed a slowdown in growth is on the horizon, it is going to be a very tough and dark winter for equities.
Futures down big now. For the first time ever, GOOG is actually gapping down several points. When folks are actually dumping GOOG pre-market, you know there is REAL FEAR....
We need Cramer to issue one of his patented "Sell everything this market is terrible..." calls. Then, THAT is the bottom!