Dude…. The Markets Got KILLED Today
Wow.
If this isn’t a top, then I underestimate the power of the PPT:
Another day like this and I’ll be headed to the bank to take out all of my money in cash. Time to get the gold bars out of the safety deposit box (although gold got killed today too).
Maybe it’s a good time to buy the dips? I don’t know. Anything’s possible, but it is my guess that there will be more pain before it will be a good time to buy.
Jon pointed me to the historical data on yahoo finance comparing today to the Friday before Black Monday in 1987.
The volume today was unreal - a new record for the QQQQ with over 300 million shares traded. Also for the DIA with over 30 million. The SPY also set a record with over 250 million shares traded today.
