Market Talk / February 25th - March 3rd

[Wrngway]

Good for Tom. This vindicates his position.

You all remember shoots and ladders I'm sure. I just hit that big slide that sends you back to the beginning.

 

[ATCJeff]

Someone gave Tom this article last week from decisionpoint.com

How many times in the last three years has the Dow closed up or down 200 points in a day? Just five. How many times in the last three years has it closed up or down more than 250 points? None. 300 points? None. 400 points? None."

Read the rest here.



We may see our 250+ points down today!

WOW! Sorry about getting this one right.

 

[Aviator_Guy]

OK, so like is this day going to be called "Black Tuesday" or what?? Bloomberg is showing the S&P down 37.61 (2.59%)!!

I can't get this image of a game I use to play back in the early 1980's out of my head called, "PAC Man"!

 

[VirginiaBob]

-2.94% now on the S&P 500

 

[qibovin]

-2.94% now on the S&P 500

Sweet, a sale! 3% off all equities.

Hurry in, these prices won't last.

 

[poolman]

now were rollin. Wow.. dow down 500

 

[Birchtree]

You bet, we are rollin - down 523 at the moment with programs kicking in.

 

[poolman]

It's o.k. Correction taking place.

 

[qibovin]

Tourniquet anyone?

 

[Pilgrim]

I thought programs were curtailed. The DOW lost 250 point in FOUR MINUTES starting at 2:57pm!!!!

 

[tsptalk]

A tie and everything. I'm gonna look like a serious slouch when they put my pic next to yours. (Did your guy take like 100 shots?)

Yes. It was a lady and she had a ton of equipment. I was expecting a guy with a digital camera to come in and snap one or two shots.

 

[Spaf]

Dow hit 12089, now recording a ledge? bottom? something!.........

 

[tsptalk]

I thought programs were curtailed. The DOW lost 250 point in FOUR MINUTES starting at 2:57pm!!!!

Yeah, did anyone hear what happened at 3:00 to trigger that waterfall like decline?

 

[poolman]

Yeah, did anyone hear what happened at 3:00 to trigger that waterfall like decline?

several LARGE programs traded and spewed out data.

 

[tsptalk]

We just had a 120 point rally in the last 5 minutes but I don't think anyone is thrilled about it. We've hit the threashhold of pain. That, "What's another 100 points?" feeling. Day traders are having a field day if they are playing it right.

 

[poolman]

several LARGE programs traded and spewed out data.

According to cnbc tom. sorry.

 

[tsptalk]

Thanks!

 

[clester]

I bet the huge amount TSP'ers getting out caused the gap down. I don't know when TSP would buy or sell, but I would guess about 3pm to get all the trades done. Don't underestimate our ability to move the markets.

 

[azanon]

Congradulations guys... its nice to see some of you finally rewarded for your patience. Hopefully, it isnt short-lived with a 300 point run-up tomorrow.

My overall portfolio has me at about 80% stock today so "techinically" it should hurt a bit, but as a buy-and-holder you pretty much just "ho-hum" the ups and the downs..... It hurts today, but the last 8 months didn't.

 

[James48843]

I hate to be the bearer of bad news, but I see the support level is now around 1380. We still have a ways to go tomorrow and perhaps the next day.

If that IS the case, if this is the fall we've been waiting for, then when it hits 1383 or so I am all in for the ride.

Nice.

the 1389 held.

The good news-

The bounce off the 1389 level. That was six points higher than I expected. And is a support level I had anticipated. If we can make it till 4pm and not retest that level, then that should also act as a brake tomorrow morning in the AM

Nice move back up. tomorrow morning may be off a little, but I think we just got a huge buying opportunity tomorrow.