What a day in markets ......Dow down 806 points.......
VIX hit 11 year high of 58.24......
Some stat to keep in mind after each crash......
1987 crash......after 1 year market was UP 22.90%...after 2 years market was UP 54.30%
1990 Persian Gulf war...after 1 year market was UP 23.60%..after 2 years UP 31.30%
2003 invasion of Iraq...after 1 year market was UP 29.60%...after 2 years UP 31.40%
There are lot of fast talking pundits who would like you to believe that Stock market will keep going Down to 6,000 or any number in-between......These pundits are either SHORT....OR are out of market completely....thus expressing a thoughtless number based on NO TA or FA......
Markets turns around and move UP sharply when no one is expecting.......
Biggest move in markets are in the very first few weeks...when most of the OPINION junkies are OUT of the market......
So do your OWN historical analysis based on TA......
When thousands of stocks are making new LOWS daily on NYSE & NASDAQ...then CAPITULATION has happened based on history.....Today 1629 new lows on NYSE & 1097 new lows on NASDAQ....
BUT.....your OWN due diligence & comfort level is very important.......
BLOG does NOT give buy or sell.
Saleem
5 comments:
Great post.... but read this:
While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy..
“From two very senior sources – one incredibly senior source – that he went to the gym after … Lehman was announced as going under. He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold. And frankly after having watched this, I’d have done the same too.”
I guess, he deserved it...!!
Hi Troy,
That was a small price to pay for getting $500 million in last 6 years.....
Saleem
Hi All,
Fuld and others have brought shame and mistrust to the whole market process that will take time to repair.
Standards
Why is the govt not putting them in jail..... maybe it will change after election...
Hi All,
News of government buying commercial paper on the tv this morning. Maybe this is why the big swing in last hour yesterday?
Shocking what was going on at Lehmans two weeks before bankruptcy. Everyone suffers except at the top.
Mexican gangs blamed for burning down my favorite Cuban restaurant last night. In business 30 years. Gas $3.89 dropping. By next year this time, could we turn this around?
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