Just when you think its time to buy everything reverses, its not even worth going short or long at this point.
It has, indeed. It's just occurred over the last 2 weeks, while everyone was expecting a one day drop. What's going to happen for the next few months is that moms and pops will be selling while the professionals will be accumulating.
Scray everything if you ask me. Just litsening to the hearings and the magnitude of things brings shills down my spine....this is going down as one of the most important periods in our life time, for sure....
US treasury to sell more debt to increase and encourage borrowing ... that is not the best USD market news IMO.
It hasn't had a true crash yet. In a real crash, volumes hit records, liquidity dries up, and trading becomes disorderly. This is *nothing* like Oct 87 (yet). In Oct 87 the cash/futures discount on the S&P was over 10% wide! In 9/11 bids *disappeared* in Europe (literally there was no bid). Trust me on this, if you have not experienced a crash you won't understand, but so far this has not got to that magnitude. Most times the market bottoms without a real crash, so the fact one has happened does not mean it's a certainty we go lower (no certainties in the markets), but on some occasions they happen e.g. 87, 9/11/2001, especially when there are serious systemic risks as there are now. But I would not buy on the grounds that we've already "had a crash" because we haven't. Looking at the price action, this is pretty dicey. That recent 990-1005 trading range just failed to the downside. Resistance now at 1020 and 1005 on the index, the only support is the opening low - that's the last hope for the bulls. If we break that, watch out.
The USD strengthening has been to ensure financial stability and buy some time to fix things - that puss boil could burst.