Friday, May 07, 2010

Black Thursday - a buying opportunity

Here is my latest post on "The Art of Contrarian Trading".

10 comments:

andi said...

The market crashed yesterday...it was supported by PPT...and technology was blamed to avert panic..
Currency/bond both showed it was a collapse..
You can trade this market..
But do not put your hard earned money in this market..

extrader said...

andi, i agree with u on what u wrote, but it all depends on what side of the market u were on.... and as far as i know this kinda wild swings dont happen everyday, if my memory is correct.... the last time i remember this swings were the dot.com era and 9/11...

Laurence said...

It seems you, Carl are the only one referring to black Thursday. 1000 pt drop lasted only a few minutes.

John said...

I don't think this was a significant cover piece.

John said...

To me...it's all about USD/Yen and the sad but big possibility of volcano eruption in Iceland...I know it sounds crazy but check it out. National Geographic had special on it.

Ali said...

We got supply shocks every day.

This looks like a mix of The crash of May 2006 and October 1987.

Kishore said...

Who has the courage (balls) to avail himself of this buying opportunity? Not me, I am too sissy! Maybe, that's why my account is not fully blown yet.

JP said...

Market don´t like uncertainty and this thing about Greece, Pigs and even US debt can not go away..

Edwin said...

Instead of debating where the market is headed, I acted on my contrarian bet...I started to short the bond market. The bond rally can't go on forever...it is already 28 years old.

Dave Narby said...

Anyone who wants to put their hard earned money on this POS market is asking to lose it all.

A 1000 pt. drop in 15 minutes IS NOT NORMAL SELLING BEHAVIOR.

Maybe someone can get lucky shorting it, but that takes a huge tolerance for drawdowns and the ability to be glued to your screen.

Good luck Carl. I have to admit I do not think this will end well for you.