This is the type of cr*p that chief market economists are saying to scare everyone, "Today might be the day where everybody throws in the towel," said Peter Cardillo, chief market economist for Avalon Partners. "People are saying 'I've had it, I can't take it anymore, I'm selling everything.'" I say "Come to Pappa my cheap shares."
Just remember it took two years or so for the market to find a bottom in 1929. By the way at what point will this be called a crash. I think 31000ish to 17000ish is a little beyond the scope of a correction and more in the realm of crash but I guess we also aren't in a recession either.
I was referring to today's US open, the futures market descent was halted at limit down. It suggested a real crash at the open, we didn't get it... 17150 break on the ALSI futures and this bear market rally on short covering will be in full swing!
my view is that the market has crashed, and if someone does believe that they have a problem, maybe the crash gets worse, but this drop since the high is a crash. lol. one should not call it a crash though, because when thinking of cars or aircraft, after a crash the thing is a write-off and doesnt ever drive or fly again. lol...
Remember hedge funds also covering and scrambling for cash. Either sideways or a rally, but Monday will tell. Something to keep in mind... 24, 28 and 29 Oct 1929 was only the start. It took until 1932 for the market to bottom with the DOW at 89% down...and most of the dropoff happened gradually after Oct 1929
Gentlemen,Gentlemen and Ladies.Don't you get it YET ? Didn't I wax on and on,in 2007, about the System BREAKING.Well,here it is.IT IS BROKEN.Are you buying Kruger Rands ?Silver certificates from the Perth mint,Western Australia ??.We are now heading for HYPERINFLATION.ALL PAPER CURRENCIES DIE.EMERGING MARKET ONES WITH BAD FUNDAMENTALS...DIE FIRST.The Rand BURNS.Big Pic>>>>>>WEIMAR USA leading to GLOBAL WEIMAR..Ref: Germany 1921-1923.********************** PROTECT YOURSELF.Speculation is cool eg: Angloplat as a BUY etc....but hey,INSURANCE TIME. Gold and Silver coin.This CURRENT bargain-window for precious Metals will not last much longer.Adios.