Down goes the Dow

Was fun! In addition to real buys, bought a small amt of spxl when vix was elevated. Sold it 2 mins before close! Should have bought a ton, the vix never fails.

NEVER!

I don’t think my nsrgy executed, that otc stuff is always delayed.

seattle prattle wrote:

agip wrote:

posted early this morning.

Today from bottom to top the Dow moved 1,254

Just 3.5 hours to get 1,200 points. Huah.

remember that, boys. Into the memory banks.

I am not going to forget this day for quite a while, i am sure.

You probably will. We had like 15 days of this exact thing in 2018. Then several more in 2020 and even a few last year!

Honestly pretty easy call to make when VIX opens 25% up and almost hits 40. That kind of thing never ends up sticking

agip wrote:

agip wrote:

VIX 33 whoo weee, Scaredy cats.

we are setting up for a 1,000 point upmove at some point this week, I'd bet.

posted early this morning.

Today from bottom to top the Dow moved 1,254

Just 3.5 hours to get 1,200 points. Huah.

remember that, boys. Into the memory banks.

That has been the playbook the last five years. You’ll wish you hadn’t repeated the behavior one too many times.

Goes to show that a drawdown must be orderly, ie the vix managed at a low hum..

No telling what will happen from here, but like agip said, today was about as sure a thing as it gets, intra-day.

I swear, next time I will venture a pretty good pot of money when the vix is that high, if ever.

Prof. Racket wrote:

seattle prattle wrote:

I am not going to forget this day for quite a while, i am sure.

You probably will. We had like 15 days of this exact thing in 2018. Then several more in 2020 and even a few last year!

Honestly pretty easy call to make when VIX opens 25% up and almost hits 40. That kind of thing never ends up sticking

The thing is, this day wouldn't have caught my attention especially, except for the simple fact that it is on the tail end of a week of significant selling. Yes, days like this happen, but a lot of traders were really edgy coming into the session.

Capitulation often looks like this - like a reversal of massive size as we saw today.

I wouldn't be surprised if that forms a bottom, but hard to tell.

Ghost of Igloi wrote:

agip wrote:

posted early this morning.

Today from bottom to top the Dow moved 1,254

Just 3.5 hours to get 1,200 points. Huah.

remember that, boys. Into the memory banks.

That has been the playbook the last five years. You’ll wish you hadn’t repeated the behavior one too many times.

Lol tell that to the bank—ie the guy sitting beside me! He made his clients a killing today at vix 37. I just followed his lead.

Igy man, I think you’re just sore. Why don’t you venture a little bit, like I did today? I didn’t make my year’s wages, but I did participate in a gainful way, and am happy for my cellmate who really scored. Plus, he will be buying on Friday!😁

Maser wrote:

Ghost of Igloi wrote:

That has been the playbook the last five years. You’ll wish you hadn’t repeated the behavior one too many times.

Lol tell that to the bank—ie the guy sitting beside me! He made his clients a killing today at vix 37. I just followed his lead.

Igy man, I think you’re just sore. Why don’t you venture a little bit, like I did today? I didn’t make my year’s wages, but I did participate in a gainful way, and am happy for my cellmate who really scored. Plus, he will be buying on Friday!😁

In that vein, someone who had some powder dry, so to speak, might find this a particularly opportune to make an entry.

Looks like I will be buying Nestle on SIX, it beats OTC any day.

seattle prattle wrote:

agip wrote:

posted early this morning.

Today from bottom to top the Dow moved 1,254

Just 3.5 hours to get 1,200 points. Huah.

remember that, boys. Into the memory banks.

I am not going to forget this day for quite a while, i am sure.

This type of up and down and down and up oft precedes a serious crash

Carmine:

“The last two times that the S&P 500 dropped 4% and rebounded into the green were as follows...

Oct 16, 2008 = down -4.63% and closed up 4.25% - EU, US, Japan coordinated action to guarantee bank financing, Paulson shifts TARP to buying equity in banks

Oct 23, 2008 = down -4.28% and closed up 1.26% - Fed bailed out MM funds

Things did not end well...”

From agip’s favorite source, zh😂

Going to go for a good long run now. Feeling slightly euphoric

Btw that zh article appeared pretty high in a google search for “fed rate hike odds”.

Lol are they already dialing it back? Gotta keep moving money overseas. Time will tell.

Prof. Racket wrote:

Big Dog Investments wrote:

Bought HD, AMZN, MRNA, and QCOM. Have a little dry powder left.

AMZN has been an absolute sh!t stock for the past 2 years.

Personally I think they've peaked in their main business and everyone kinda knows it. It's no longer a cool tech company, it's a just a digital version of Wal-mart.

And no one thinks Wal-mart is cool

Up 6.55% in the few hours since I bought in. I guess I should sell at the open?

Maser wrote:

Carmine:

“The last two times that the S&P 500 dropped 4% and rebounded into the green were as follows...

Oct 16, 2008 = down -4.63% and closed up 4.25% - EU, US, Japan coordinated action to guarantee bank financing, Paulson shifts TARP to buying equity in banks

Oct 23, 2008 = down -4.28% and closed up 1.26% - Fed bailed out MM funds

Things did not end well...”

From agip’s favorite source, zh😂

Going to go for a good long run now. Feeling slightly euphoric

Anyone who still gets info from ZeroHedge (or Twitter for that matter) these days deserves to be totally clowned.

Maser wrote:

Carmine:

“The last two times that the S&P 500 dropped 4% and rebounded into the green were as follows...

Oct 16, 2008 = down -4.63% and closed up 4.25% - EU, US, Japan coordinated action to guarantee bank financing, Paulson shifts TARP to buying equity in banks

Oct 23, 2008 = down -4.28% and closed up 1.26% - Fed bailed out MM funds

Things did not end well...”

From agip’s favorite source, zh😂

Going to go for a good long run now. Feeling slightly euphoric

Even more up and down tremors in 1929.

Hope we don't crash here as I am down about $112k since mid November and over $180k in the past 11 months and am looking to rebound. I was killing it from early to mid 2020 until Feb 2021 - not so much since then.

John Patel wrote:

Dead cat bounce

This. Might start off green tomorrow... I suspect we'll be lower by Friday though.

Maser wrote:

Ghost of Igloi wrote:

That has been the playbook the last five years. You’ll wish you hadn’t repeated the behavior one too many times.

Lol tell that to the bank—ie the guy sitting beside me! He made his clients a killing today at vix 37. I just followed his lead.

Igy man, I think you’re just sore. Why don’t you venture a little bit, like I did today? I didn’t make my year’s wages, but I did participate in a gainful way, and am happy for my cellmate who really scored. Plus, he will be buying on Friday!😁

Sold my shorts Dow -800 and better, thank you. I load back up by week’s end.

I didn’t want to buy SQQQ at its opening price and set an order for near yesterday’s close, which went through right near the end of the day after I’d written it off and forgotten about it. That will buffer us from volatility the next little while, fairly evenly offsetting our other holdings. I hope for the rest of you I’ve made a bad move and markets slingshot upward. I have a feeling this may work out ok for us, we’ll see. Feel free to call me an idiot if I made a bad call. 🙂

I think you will do ok. After hours not great. IMO this fall has room to run.

Food for thought if you have 75 minutes to spare:

https://m.youtube.com/watch?v=vBzEHKpOh4Q