I keep thinking about it, the S&P just hit -6% for today! If it weren't for the nasdaq holding up better I'd be a bit more pessimistic. I don't mind holding and waiting it out, I just hope it doesn't take a year to go back up.. I think the pro's must be buying. We will have to wait until Friday next week for the COT report to find out. By then it'll all be over.
The beauty of anonymous trading.You can't.Also,what's the difference between a professional and an individual?If the 'professionals' had a clue then the banking system wouldn't be in this mess.They're just gamblers with deeper pockets. Also,not every buy or sell trade is going outright long or covering longs.There are any number of hedges going on and that's not talking about any options trades that might be involved too.
Sold today (then bought again about 5 minutes before close). Might be a buyer next week for short term, might not. One lesson I've learned very well this year - just because it's down doesn't mean it can't be down *more*. But, yeah, eventually there's a bottom. The other part of my life where I looked at the market for a good part of the day and traded some (much less than I do now, though) was 96-97. Man, what a contrast! I'm *lousy* at buy and hold, so don't ask me too much about that. I'll probably buy and hold some property in a few years. My daughter is adamant about being a baker, so I guess I'll probably buy and hold a bakery at some point in my life, too LOL. Cheaper than college!