Friday, October 24, 2008

Look Out Below!

The markets globally are selling off hard and our futures are limit down (they stop trading the futures when they exceed a certain percentage decline). Economic concerns continue to rule the day, but I will say this....people continue to want to buy the bottom.

So despite all of the gloom and doom out there, there are a ton of investors looking to buy the market right now. I'm still convinced that this is the wrong decision, but the market is ruled by traders, not investors. I'm not going to be surprised at all if today is one of those 1,000 point swing days.

Note that the first circuit breaker doesn't kick in until the Dow is down 1,100 points.

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