Ugly, eerie close.
#1
Posted 27 July 2007 - 03:05 PM
#2
Posted 27 July 2007 - 03:10 PM
My gut feels like it did on that Friday in October 1987. Sunday night will be real interesting to see if there was any co-ordinated intervention over the weekend.
yeah got out with a hefty close, but the bloodshed is continuing after the close. looking awfully nasty.
what kind of intervention are you referring to?
#3
Posted 27 July 2007 - 03:14 PM
#4
Posted 27 July 2007 - 03:22 PM
My gut feels like it did on that Friday in October 1987. Sunday night will be real interesting to see if there was any co-ordinated intervention over the weekend.
Seriously? This market is nothing like 2001-02 or 1998. I wasn't around for 1987 but I've seen charts--don't think it's even comparable. I really don't feel or smell much fear but the VXO is saying it's there. By the way, I take the new highs in the VXO to be more bearish than bullish for the near term. This decline came right off of ATH's for a couple of indexes. I would think bounce very soon and then retest. I've learned enough in 14 years of following the markets that when things act like this you stay away and play only intra-day momentum moves with tight stops. I'm willing to buy a handful of companies based on fundamentals (CNQ, GPOR, QUA.to to name a few) that I really like LT on extreme weakness but that's about it.
#5
Posted 27 July 2007 - 03:23 PM
yeah got out with a hefty close, but the bloodshed is continuing after the close. looking awfully nasty.
what kind of intervention are you referring to?
The kind that occurred AFTER the crash when the boyz were given tons of cash and told to start buying XMI futures.
#6
Posted 27 July 2007 - 03:30 PM
Edited by hiker, 27 July 2007 - 03:34 PM.
#7
Posted 27 July 2007 - 03:32 PM
#8
Posted 27 July 2007 - 03:52 PM
DOW 60 minutes: