reminded me of 87 crash
Posted: Tue Jan 22, 2008 7:45 am
yesterday when markets were steadily sliding down I thought DAX would go to -20%, during the yesterday's trading session when US was closed Europe and Israel had trading. I recalled Saliba's interview when he was talking about 87's crash and said that it was gradual downward market, so I said to my friend that we might go to -20% today.Yesterday it was way too gradual, I got short there, but got nervous in the end of the trading session when it was going up a bit, I was in and out all day trading local israeli index using put options, finally I went home short. Today asian markets plunged 12 %(Hang Seng, India etc) and we opened much lower. It's a great time to trade the markets today, I'm personally excited. Although we didn't have -20% scenario during one day it's still a lot of fun to be in the markets.Bernanke doesn't know that he shouldn't get into the way of the market, if he let it fall in August investors wouldn't suffer that much today. Of course those who are short the indexes simply dont care.