Research your statements before you make a fool out of yourself. Study the literature, and read Clews. Of course he was from the 1800's, so that probably wouldn't count in your mind. If you can read a book 1500 posts since March. Do you just post on this board and bloviate, or is there any real trading going on? Personally, after reading your posts, perhaps McDonalds would be a better career path for you.
funny thing is the modern day Nathan Rothschild runs Atticus with another guy- global hedge fund. (down 25% ytd)
Many unfortunate souls used that same mentality in Oct 07, Jan and Mar 08. It appeared then that "the streets were awash in blood". "Buy now" yelled the bulls, fear is the time to buy. LOL History takes time to repeat. Study history, but make decisions on what you see today.
I know there is a lot of doom and gloom on the TV and that it appears the wheels may come off the apple cart but I cant help to think we are only about 22% off the all time top. I would not believe that there is blood on the streets without another 5000 point drop in the dow as a minimum. Until then there may be some injured companies but its hard to think that this little speed bump we hit is cant get a lot worse. That by my understanding means we have not yet seen 'blood in the streets'
Today we have Investors Intelligence, and the Vix....all telling us sentiment is overly negative. I am expecting at least a retracement. Alot of money on the sidelines. On Friday, with that big gap down, I bought. Monday should be a rip roaring positive up day.
Blood on the streets would be a day with a 20-40%decline. I wonder what % of posters on ET were even in the business in 1987 and traded on that decline.
I think it's more prudent to allow the blood to coagulate a bit before dipping in. If the blood is still flowing freshly and freely, some of it is bound to be mine. And I just hate when that happens.