Looks like the Central Bank intervened now in Germany. Up roughly 400 points now off lows from earlier on
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There goes Cameron.. http://www.telegraph.co.uk/news/201...david-cameron-resigns-as-uk-shocks-the-world/
So for those who have been through this kind of thing before (enormous drops overnight due to some world event), I would like a little advice. If I have LONG positions open, would the generally accepted best idea be to put market orders in to sell at open? I would think that would be the best idea, as people will be hitting stops all day and selling off when they see their investments plummeting.
This is going to get pretty ugly. 40 Billion Pounds is no freakin joke. I would short the bounces http://www.telegraph.co.uk/business...c-as-40bn-wiped-off-the-value-of-british-ban/
Soros is not always right but he sure was this time. Should have listened to him. I am just going to short all the pops from here on. I read an article before from an accurate forecaster that SPY would hit 1800-1900 by July. Looks like they may be right. As long as the FED and EU do not intervene it should be downhill from here. Recently Yellen said US stocks were over valued so I reckon that there will not be an intervention this time around. I would assume her warning means that there will not be an intervention this time around. http://www.nasdaq.com/article/4-stocks-to-buy-on-yellens-valuation-warning-cm639098
Maybe we finally see a bear market? I doubt this will be the cause but who knows. That Soros knew something before everyone else.... Bastard
not sure we're gonna see this today (probably not) ... but who knows under the revised rules approved by the sec in 2012, market-wide circuit breakers kick in when the spx drops 7 percent (level 1), 13 percent (level 2), and 20 percent (level 3) from the prior day's close. a market decline that triggers a level 1 or level 2 circuit breaker before 3:25 p.m. will halt market-wide trading for 15 minutes, while a similar market decline "at or after" 3:25 p.m. will not halt market-wide trading. for friday, jun. 24, the market-wide circuit breaker levels for the cash spx are: Level 1 = 1,965.48 (-7%) Level 2 = 1,838.69 (-13%) Level 3 = 1,690.55 (-20%) these are for the RTH hours (9:30am - 4:00pm eastern) ETH hours (6pm - 9:30am eastern) is -5% we already saw that late last night when the /ES hit lock limit at 1999 let's see what happens today ... but if i had to guess what we see today, i'm doubting we see much more panic than what we have already seen in the overnight trading hours
With this populist vote in Britain, and if this gains momentum here in the USA, I can see Trump winning in a landslide and we'll have our own AEXIT from Nafta, GATT, and the WTO...and the secret pacific trade pact.
Could be a dead cat bounce later after the open but if it were me I'd exit positions unless I was looking super long term like Buffet.
Since weekly options expire today I would not be surprised to see a spike up to cover some positions. After they are covered we should continue to drop. All calls off if FED,EU and BOJ intervene though. http://www.businessinsider.com.au/m...d-the-introduction-of-helicopter-money-2016-6
I think we'll see a gap down followed by 5-10 mins of hard selling, then a DCB. If I was daytrading I'd watch the RSI and stochs for an opportunity to sell sell sell Mortimer! Turn those machines back on!!! We've had a fun run we'll see what happens. The buying frenzy has capitulated, at least temporarily. Maybe buyers will wake up after the dust settles in a few days, weeks, maybe months? Wish now I kept some of my short positions open. I still have a few that look to be trading well premarket. Asks are dropping quickly...crazy!
certainly hoping no one is hurt by BREXIT ... but i do need to make a quick confession here -- i am kind of interested to see the markets hit at least one trading halt today as i'm curious to see how that is like ... i've never witnessed a market-wide halt even during the height of the '08 crisis ... its been a helluva run for the markets for the past 7 yrs ... its okay to have days like these every once in a blue moon lol
