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Thinking out loud. Now, the magic 20% is at hand and panic is starting to
become apparent. Had to laugh, the talking heads said that this slump is
the fault of “small investors”. Bull! Small investors would have caused the
market to go down early in the day or be spread out over the whole day.
Consider that there is more debt to value among the public than at any time
in the history of the Dow and most small stock investors have already lost
money(it’s not in the bank). Those payments are going to be harder to cover
if there is any recession, which at this point is almost a certainty.
Sounds like a good set up for the snow ball effect to me. Personal debt
crises causes people to panic and sell their stock which causes more people
to panic and sell their stock which makes for a greater debt crises and we
all know how it is to sell in those fast panic markets. Maybe big blue or
Microsoft will buy all of their stock back tomorrow.
This could be a major historical event. Where were you when Kennedy was
assassinated anyway? Until tomorrows Real Traders digest.
Brent
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