CLICK HERE for raw video of the volatile move back up after the panic selling
I closed out my console and had the simulator up after the sell off began because I was not interested in executing any trades during the move.
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I remeber a similar event (federal notes)on Sept 29,2008. E-mini spiked down about 60 points in three or four minutes. Like trying to catch a falling knife, and today not enough consolidation at the bottom to get any type of handle. That day and today started with a down gap, and on both days the emini was down over 40 points, then the big spike down. I should have been short today when it spiked down, but I wasn't.
ReplyDeleteToday was a black swan even that can not be premised for. I guess if you have a lot of capital and courage you could have bought this move as it kept extending down. No move can go on forever and the V spike was almost inevitable. I bet a lot of traders had their accounts blown out today.
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