Question For Readers

Now that everyone has had the night to sleep on it, what are readers feelings about what happened yesterday? Ramifications for the market in the near and longer term?


PJ said...

It shows we have a fragile Potemkin market. It reminds people that the market can move in both directions. In the end, it promotes risk aversion.

Short-term, it's produced a flurry of retail selling that's counteracted a positive employment report. Not sure how the cross-currents play out in the short run.

But I believe the economy will turn down soon and that will keep retail investors from coming back into stocks.

Anonymous said...

Hi Tsachy, I posted a couple of comments last night.

Volatility is clearly back.

We will get large swings in either direction, BUT intermediate term we are broken and I would suggest any big move higher be shorted.

If you invest long term. Just put a limit order(good til canceled) in at a crazy low price and you never know if you might get it.

But I think we retest the lows, at least.
good luck

Anonymous said...

1 more thing for your viewers.

Don't trade on emotion!

Do not think this is the only opportunity and you missed it.

We will be getting mad swings in BOTH directions.

nicasurfer said...

sitting and waiting for the second buy of a lifetime but short for now. I think public is gonna want out and this could last for a week or two

thegreatsatan said...

I'm 90% cash. I don't day trade, but have about 45k for investments that I try to keep producing gains with. I dumped everything yesterday except GLDX and PUBAX (small positions anyway). I don't trust the robots. I dont trust the govt. to provide any form of useful regulation, I dont trust the banks.

While for the astute, well educated investor there will be great deals to be had. Your average citizen such as myself, will continue to get burned and lose.

When the referee (the govt.) is also a participant no one can gain, except those in the referee's corner.

The financial media is worthless, as fully shown by the immediate parroting of the "fat finger" by nearly all of the networks.

ZH remains down again today, people know where the good information is.

Anonymous said...

It was not a "glitch." They are trying to whitewash a crash.

Also, busting trades is a huge mistake like banning short selling in 2008.

aaron said...

I'm furious they are breaking trades. The computers penny me all fucking day or the last year and when I buy stock for a dollar that they sold me it's broken.
Anyway, I think today was a short term low. It's too soon to know if we go back to highs but it's possible. I know most readers probably think I'm crazy but we still have interest rates at zero and zero inflation. Another credit crunch originating out of Europe could change that.