What do you expect when there is anemic economic growth, barely any consumer demand, and discal deficits in most of the developed nations (USA, Japan, EU)... sad, but thats where we are in 2011 ... actually, that's where we have been since 2000
We can only hope that many peoples funds blew up. Anyone that bought this bear market rally over the past couple of years deserves it.
second largest/sharpest pullback since 2009: http://vixandmore.blogspot.com/2011/08/vix-over-31-and-spx-down-125-from-peak.html
actually, the biggest drop Close-to-Close for SPY was 3.8% (since 06/01/2009). today is among ~ top 3-4 largest drops since Jan 2009 (the largest being 5.3%). just quick and dirty excel computations, a small chance i screwed up the numbers.
Oh, no. That can't happen. Someone said 2011 was going up, up and up! http://www.elitetrader.com/vb/showthread.php?s=&threadid=211996&perpage=6&pagenumber=1 "By the time some people realize what they missed it will be too late. This is the nature of markets. If you are expecting a magic entry point you might be waiting until late 2012. You might get some retracement in January but certainly not to the totally unrealistic standard some of you keep posting. Corporate earnings are up and will rise again in 2011. Dividends will increase in 2011. M&A Activity may increase in 2011. Some of you bears might have some fun in mid to late 2012, but by then today's market levels will seem quite reasonable the "insanity" talk on ET will be conveniently forgotten."
Intraday or based on the daily close-to-daily close? On a closing basis, this was the worst day in over 2 years. You may be right, but the vast majority of those other days must have been from 2008 to early 2009.