here's the visual always a spectacular sight to see, as you don't see 4 digit down days on the dj30 very often it's worth noting that on a point basis, the worst one-day drop for the dj30 is -1,598 (intraday basis) back on feb.5th, 2018, and -1,087 (closing basis) which also happened on feb. 5th, 2018. we'll have to see if we set any kind of new records there
I entered Lot #2 at SPX 3230 today. I expect to be able to exit Lot #1 long entered on Friday at break even or at a profit at some point.
Gap fill is around SPX 3330--about the level I entered Lot #1 long. I shall probably exit all positions at around 3330 for risk management and profit taking.
I think I shall do much better in 2020 for maximizing on my profits. As I mentioned before, trading is about protecting what you have AND maximizing on your profits. A difficult balance, sometimes, but an interesting problem to tackle.
The situation is--up, and can profit. Further collapse, an opportunity to enter long and profit nicely in time. The market has already shown that the Corona virus IS NOT A PROBLEM.
-3% drops aren't too common on the spx, we get one about about 1.5 per year on average since 1950. the 2008 GFC kinda skewed that though lol. the last -3% down on the spx was back on the great xmas eve massacre in 2018
What a day indeed Didn't get much of a bounce at all into the close. Let's see if we see a little bit of a bounce back tomorrow
looks like the dj30 managed to close the day down with 4 digit # still wasn't the largest point loss on a closing basis....missed it by about 50 points
i don't know if it is just me, but does anyone else feel like this selloff today was very much on the "orderly" scale? did not feel that panicky, or disorderly at all for a -3% + down day for the indices
haha, good question! i don't actually have that # on hand right now but i'll definitely look that one up for you. but if my memory serves correctly, i believe today would be the 3rd or 4th time the dj30 closed -1K or greater on a closing basis. i'll see if i can confirm this one for you later tonight or tomorrow
I think it is not over yet. The worst thing for the market would be we are starting to get cases spiking here in the US then this market could really crash, then of course I hope it isn't going to happen.
SPX closed at 3225. If it collapses more tomorrow, I buy long. I have my theories about what's happening. But, the key point is that the SPX shall test 3330 at some point.
^^ this 1000% while i'll be perfectly honest here, i don't mind seeing the market come in like this because it has been highly overdue for a nice meaningful pull. but, i hate to see it pulling back if it is largely due to the covid-19 pandemic, because let's face, we all could potentially be impacted by this one way or another if this does ever god forbid go on to blow up to be a full scale global pandemic i am seriously keeping my fingers crossed here that we start to hear some better news on that front... i am personally more concerned about my folks who are elderly, and very vulnerable to this virus. same with my little nephew who is very young, it is very worrisome
True Cy, most healthy adults can probably recover from this virus, at least that was what I heard but I am no expert in medical subjects. Elderly and younger kids are very vulnerable though. Let's hope the cases won't begin to spike here, but getting more worried now after hearing the news for South Korea and Italy.
here we go @stock1234 as promised so i was kinda right initially. the dj30 has closed down by -1000 points 3 times in its history. today just narrowly missed being the 2nd worst ever on a point basis. but on a % basis, it was only the 254th worst.
the spx closed down by -3% today. here are the other 103 times that has happened since 1950 and what happened next. this chart is not mine but figured worth sharing in here
