You guys should keep your eye on the ball -- technicals The S&P is "just" 20-25pts off its highs right now. In the last 2 years chickensh*t market that seems like a lot, but by historical standards it's not that much. Back in 2003 and before, 20 pts overnight gaps, up or down, were not rare, and on top of that, a lot of those gaps got filled the same day .... lots of $$ for daytraders I think equities are awakening, back to their usual self. The good days are coming back. And this "correction" will be short lived IMHO Bigger swings are ahead. And the Nikkei down about 3% 2 days in a row... what do people expect with so much "hot money" daytrading japanese stocks like dotcoms in 1999.... lots of morons chasing a bubble == huge swings up and down == lots of $$$ for traders
The Japan electronic mkt is another example to keep live bodies in a pit for trading. Japan and most other places are far more advanced than the USA when it comes to electronics. Another example of thin electronic trading: Look at the globex swings after the earnings flops come out. Swings from about 1282 to 1289.50 3 times can cause one to say: pass the Maalox please. Wise men/women will trade when real bodies are in control and the players are in the game, not when they are eating supper or at the lounge with a Manhattan in hand.....Be cautious....again, we are in for some fun times this year, hairy days are what we thrive on......
Good Call Man!...You were the first one on this site who was concerned about the gap down earlier in the week....Hope you were able to profit from it.....Whatever happens now won't matter.....You were wisely concerned at the time....Others here just like to pop off at the mouth!
i may have found who was on the other side of my trades... the only thing i am buying right now is a soda! cant remember the last time i saw the dow down 160+.