thats' what I thought...but now I see too many people thinking exactly the same. I talked to a few this evening, and most are expecting a short covering rally....my "regular" friends still holding their portfolios, hoping a bounce will save them...people like this need to sell before we see a real bottom in this market... even myself I went long (for the first time since two weeks!) before the market close....luckily I only invested about 10% which will probably be cut in half at the open
Even if you assume margin/redemption selling doesn't slam tomorrow, who the f*ck won't book any profit they'd gain at any point tomorrow, and sleep well rather than be freaking out from Friday close to Tuesday open? It's a no brainer (IMO).
One positive sign, the sell off has got us through the crisis that much faster. It seems soon the worst armageddon scenario will have been priced in. This should help offset the government meddling. The free markets are doing their job, and much more quickly than normal. The day and age of worldwide connectiveness has made markets much more efficient, and will allow markets to correct much more quickly. This will eliminate long boring downturns.
That is true, unfortunatelly right now and for the near future it will show us, very efficiently, how screwed up we are. walstreet is just the manifestation of the crisis. If market recovers soon - it will crash again until all govenments agree who pays and how much for all the debt obiligations floating around.