Yesterday's sudden violent mid day sell off
reminds us all that the stock market giveth,
and then without reason or warning, can take it all away, and then some.
No one really knows what happened.
Machine driven program trading or algorithms activated,
and moved so fast that big money stops were hit in a domino like fashion,
and the S+P 500 dropped some 35 points, in a matter of minutes. seconds even.
And then just as suddenly, it was over.
The late day rebound seemed to me to be a 'classic "dead cat bounce",
adding further evidence that what happened in yesterday's sell off
may have just been the tip of the iceberg,
the first warning shot, of something more serious to come.
Kinda makes you wonder what they will do for an encore.
THE_UNWIND
2/21/20
NEW YORK
reminds us all that the stock market giveth,
and then without reason or warning, can take it all away, and then some.
No one really knows what happened.
Machine driven program trading or algorithms activated,
and moved so fast that big money stops were hit in a domino like fashion,
and the S+P 500 dropped some 35 points, in a matter of minutes. seconds even.
And then just as suddenly, it was over.
The late day rebound seemed to me to be a 'classic "dead cat bounce",
adding further evidence that what happened in yesterday's sell off
may have just been the tip of the iceberg,
the first warning shot, of something more serious to come.
Kinda makes you wonder what they will do for an encore.
THE_UNWIND
2/21/20
NEW YORK