What, no Black Monday thread?

I'm surprised - surely today of all days in the last year, should get people scared of a Black Monday?

 

maybe that means its finally going to happen.

 

I haven't heard as many bottom calls in the media and among traders as I have on Friday. Not on January 22, not on January 23, not on August 16 2007,....

The game is not that easy. Bottoms don't come so conveniently gift wrapped for the masses to buy at great prices and sell dear right away. My intuition tells me that eager traders will buy ahead of the Fed rate cut on Tuesday only to get their head handed to them after the Fed announcement, only to see another Fed "liquidity" plan on Wednesday morning instituted after the Fed sees investors have sold the news of their rate cut announcement.

 

Don't fight the fed. They will keep injecting money and cutting rates.

 

Exactly. Do not fight the Feds.

These morons will do anything to short something for a nickle or a dime. They do not pick 40 - 50 point moves in stocks like BIDU did this week..

Once Feds get on a bandwagon of cutting rates they don't stop till cows come home ( translation economy starts bubbling with laughter) than they start raising rates and take it away.

 

Well if you are prophet of doom and gloom you should be scared of everything not only Mondays, but Tuesdays, Wednesdays... even Saturday and Sunday..who knows a BLACK SWAN event might occur? A jumbo jet will crash into something like Wall street or Sears Tower? Who knows what can happen when markets are closed? You will be crunched.

 

Key reversals on the weekly charts of NDX and RUT

RSI(5) > 70 on the vix

No bulls in sight.

Make your bets..........

 

Those things only work for so long. Look what happened in Japan, although there were differences. They're going to run out of bullets maybe as they waited too long to take action. I was wondering why there weren't any Black Monday threads too. Things seem very shaky to me. It wouldn't surprise me one bit to see other brokerages and banks fess up to bigger problems then they have admitted and to see a possible run on the funds and assests of more of them.

 

Why not; it's worked so far.

 

All of this bad news coming out lately. Pundits crying 'sell, sell', US Dollar dropping without pause, Consumer Sentiment down, etc., etc: but we continue to hold the ~1280 on the S&P.

I am planning to buy April calls on the S&P futures early Monday and add on to this position if the market tanks. The PE on SPY is >14 and a rise just seems too imminent to pass up. Might lose my ass; might not.

Hmmm, I wonder what stocks I could buy some Calls on ?