reached just hours ago it seems.
I think the underlying issue here is simply one of total disbelief.
Most market participants felt the market was headed to the sky
and observers were out touting S+P 500 3000, within a couple days.
Now I wonder how they they feel, blindsided by their rose tinted glasses.
You see the stock market always gives,
but eventually, even past the point of belief, it will begin to take away.
And if a sell off is real..
that take away,.. only continues to grow,..day after day.
The realization that things arn't turning around any time soon
eventually becomes almost a semi shock to the system.
And then,.. if the sell off continues,
it will soon turn into the first real signs of how shall I say this.. panic,
by bulls still convinced the market will turn back up.
By then in full panic, the darlings of just yesterday,
here illuminated in the Nasdaq 100 technology index ,
continue to drop off the chart.
Downside risk becomes almost an unknown.
I know, this is not going to happen this time.
But in the back of their minds, I think some know better.
What..? The market can fall ?
Yes..I'm afraid it can.
So don't put yourself in the line of fire right now.
And don't fall for those, who will tell you anything different.
...for the winds of change that are now beginning to howl,
are of the genuine kind.
Still, the cult-like followers will be the last to sell. Thinking that this is part of the plan — “negotiating tactic” WTF — right up until the margin call.