Mkay, thanks for that time-machine move. Very nice of you. But everytime i see "it was a 10year bottom today" threads or "we will crash in a few days".....im just wonderin.... do YOU really care where do we go? Maybe i just dont understand something, but trade means MOVE with the merket, but not "try to guess where it moves". Plus, if you are SOOOOOO damn short about that fact that ES goes down to 700. GO and earn a few billions out of that fact. Sell you kidney, sell your dog, wife, cars, houses, and get a 5mln loan in CITIBANK. GEt 1:500 ES margin.. and... GO SHORT. If you are so right, by the end of the week, you will be able to buy that Citibank alltogether with all its assets, loans and office-girls.
100 point swings are huge when ES was trading at 1200 - 1400 range. 80 point swing today is even larger as it represents a net index loss of 10% of its value which has already been hammered.
Thanks! I had an even better call back in September. When the S&P was trading at 1250, I started a thread asking whether the S&P would hit 1000 or 1500 first. I stated in my first post that I thought the S&P would hit 1000 first and hit it within a month. It was a great call and ET was lucky I shared my thoughts and started that thread. When it comes to trading the short side in the stock market, I am known as one of the top traders on the planet. My ideas are gold. Anyone fortunate enough to see my calls should consider themselves lucky I share my views here.
Ever so close, I think what we need, like I said earlier is another big drop tomorrow, something that would take 99% investors by surprise to put an end to most of this selling, a drop to 6500-7000 could be a short term bottom however its hard to tell if buyers will walk into this market tomorrow morning, I highly doubt it, but you never know, when it gets to the point where the downside predictions become to easy its time to think of it in another perspective. I think the markets are due for a bounce, of course though at that time you would be selling. IF the market is down hard tomorrow I would start going long for a bounce.