11 replies to this topic

[da_cheif]

[Douglas]

Don, I remember that day like it was yesterday.  I was trading OEX options at the time and had sold all of my puts earlier in the previous week since dummy me had bought October expiration options.  I had told several friends earlier in the summer that the market would crash in October, so they called me the next day to find out where in Tahiti I was buying my condo.  They couldn't stop laughing when I told them that I hadn't made a cent that day despite my accurate prediction months in advance.  That's been the story of my sorted life, right with the call, wrong with the execution.

 

Regards,

Douglas

[pisces]

 

Yup,remember well.i had sold most of my stocks during that Aug and Sep why?i dont remember,i guess there were warnings..whatever i owned that day was at breakeven by yearend.so, no big deal for me. i guess i was lucky 

[iloli way]

My Day of Epiphany too - I was hitting by my first ever kidney stone attack (working too hard, just started using state-of-the-art CAD/CAI/CAM with little sleep nor good food but lots of OT). While staying home recuperating, CRASH hit the news when I was looking down from upstairs bedroom window, what a gorgeous sunny autumn day in Sillycon Valley (image still vivid today from looking over a ripe olive tree). 

 

Two years later, projects I worked on got involved in the first Gulf War. That caught my attentions of some earlier drastic moves of CL and GC. I started futures trading. The rest is history.

 

So it was a Megaphone pattern TL saved it?!   

Edited by iloli way, 19 October 2016 - 01:44 PM.

[da_cheif]

no  megaphone it was....but the decline was conducted in order to accomodate exchange insider short covering and accumulations .....the uglier the decline the bigger the advance to follow........"richard ney.. making it in wall st'    ....i saw it all comming in advance because the boys painted the dji to look like what preceded the 29 crash.....so looking forward for a monster blast i postulated that an ugly C wave would be conducted and of course the rest was history for years the subsequent advance was called a bear market rally......sound familliar?

[dasein]

29 years!

[Rogerdodger]

Memories...

Elaine Garzarelli, while working as a stock analyst at Shearson Lehman, she became known for predicting Black Monday, the stock market crash of 1987.
Her subsequent predictions, however, were much less stellar. To test myth against reality, Mr. Sherden analyzed her published stock-market predictions between 1987 and 1996 and found her to be something less than a seer. He writes, "Garzarelli was right only five out of thirteen times, or 38 percent — a record that is worse than the 50 percent chance of flipping a coin."

 

"Louis Rukeyser: [Referring to Black Monday, October 19, 1987] It's just your money. It's not your life. The figures on a broker's report mean little compared to that. The people who loved you a week ago still love you today."

 

Martin Zweig, the legendary Wall Street analyst, appeared on Louis Rukeyser's PBS show "Wall Street Week" on Friday, October 16, 1987. 

On the show, Zweig said he wasn't just looking for a typical prolonged sell off. 

"I haven't been looking for a bear market, per se," Zweig said. "I've been really, in my own mind, looking for a crash."

The next trading day was what became known as "Black Monday," the day the Dow fell more than 22% in its single worst day ever.

"I didn't want to talk about it publicly," Zweig added, "because it's like shouting 'fire!' in a crowded theater and there are other ways to play it."

Marty: "All rallies will be a TRAP...except for the last one."  ;-)

 

 

Vu Zhay Day:  "Concern over leadership in both parties!" LOL!

Edited by Rogerdodger, 19 October 2016 - 07:56 PM.

[da_cheif]

>"Black Monday," the day the Dow fell more than 22% in its single worst day ever.< and within hours of the start of the biggest bull move in history

[kssmibotm]

Thanks for sharing that video.  I used to watch Wall Street Week every Friday.  Marty Zweig was my favorite "elf" on the show.  He was one of the few true market gurus.  There will never be another like him.

[da_cheif]

>There will never be another like him.<....he always had that crestallen worried look on his face.....but he understood the market in many ways....louis saw that in him thats why he was allways on