Stock market crashed today to 5 years LOW.......
S&P 500 closed @ 909.92 Down 7.62%.....
VIX closed @ 63.92 +11.11%...highest close Since Oct 87....
New 52 week low on NYSE 1615 & on NASDAQ 1010....
This market has been oversold since JULY......
This market is NOT following old OVERSOLD definition.....
NASDAQ was the best performer down only 5.47%......
Financials were decimated.....
GM is in intensive care......
Friday MAY see some kind of REBOUND by close...I hope !!!!!
BLOG does NOT give buy or SELL.
Saleem
10 comments:
SALEEM
THis is the worst of times!
I was going to bet that yesterday was the bottom--now not so sure
We should be at the bottom, the news reports are all so negative that it appears to be time for the tide to turn
J The Cramer said the bottom was in a least 3 time last month--so much for the talking heads! Ha....
I am hoping for a green close--I had really hope for a green close yesterday--not
good luck to all and comments appreciated
Hey gas is $3.35 in DC today, and it is 70 degrees
M
Hi All,
Gas in ATL is $3.69. Even premium is just under $4.00 and moving down ever so slowly.
Interesting movement down 700 then right back up, someone is buying the dips, then it trails off with more selling. Looks like the herd is on the run and the cowboys are scooping up bargains at distressed prices.
Enjoy that fine weather in D.C. Max
Standard
Thanks for the warm regards
What a sloppy market
I bought on margin some FRO and QLD
as I felt the bottom was in NOT. I watched the tape too and was impressed with either shorts covering or dip buying--dunno but something moved us real nice positive --May Pres Bush's speech it was around that time that the market again crashed.
GOSH
Good luck to all
I thinks that MON is a safe bet here as is QLD--comments
Hi Saleem,
What do you think of C and LDK. Looks like they hit bottom and are having a hard time sinking lower. Any lower dips and they are bought back up.
Crazy downgrade note on solar today with a continued buy rating?????
Have a great day.
Hi Max,
Last year I shorted SPY before the big rally and got burned. I knew the market would collapse, but shorted too soon. Then switched course and went long to be burned again.
We know the market will turn around, but when????? Got to look for clues. When it turns it will move fast. Still much bad news everywhere. Buying on margin is costly. You will recover IHMO shortly.
Hi Standards,
It is better to buy either XLF or UYG......than C...
LDK is in support zone....
Saleem
Hi All,
Looks like buffett got creamed today with the Moody's downgrade of GS.
Even he got it wrong (for now).
Have a great day!
Hi All,
History made today? 7884 low is a 55% decline from last years high in the dow. I do not know of a worst crash except 1929?
Have we hit bottom? So close now.
Any thoughts?
Hi Standards
GS will rise again Buffet is in a set back mode,
Some banks today are starting to come back up in price--I have Visa and GS both are down, however....
AAPL is the lone green hold out here - way over sold why not get some of AAPL??
Cheers
M
Hi Mad,
Yes APPL looks encouraging. I may go with the Jan 09 calls. If the market turns, this will explode to the upside.
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