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Registered User
Joined: 6/6/2005
Posts: 1,157
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....but it might be in the market.
:)
Here's the 1987 chart pre drop:
Here's the 2008 Chart:
Here's the 1987 drop: 22% in one day.
And here's the aftermath:
Let's see if history repeats:
Thanks for listening!
David John Hall
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Registered User
Joined: 9/25/2007
Posts: 1,506
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Very much like 1987 ... I believe that we will be putting in "a bottom" in the next couple of days ...
Unlike 1987 ... I doubt very much that we will be putting in "the bottom" in the next couple of days ....
Other people's mileage may vary ....
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Registered User
Joined: 9/25/2007
Posts: 1,506
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Notice how the climax bottoms were followed by rallies back to the 10 ema/daily ... followed by continued decline ...
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Very Nice Reality...I was looking for a point to play the bounce to -- and then short again (buy buying the QID) for the final leg of the drop. The second leg of the drop (after the capitulation)(I'm assuming) should play out on lighter volume. Very interesting.
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Registered User
Joined: 2/5/2006
Posts: 1,148
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in 1987, the market had a 300% move since 1982. 1987 was really nothing but big "profit taking". there weren't 2 or 3 bubbles all going on at the same time in 1987, like in 2008.
and no two bears are the same.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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"and no two bears are the same."
-----------------------------------------------------
I remember hearing something on Bloomberg that
1932 to 1937 was what this market was being
compared to. I haven't looked at the chart but it
was considered the same type of environment.
------------------------------------------------------------------
Its funny back in 1987 I used to trade options.
Because of being busy at work I used to trade from
lunch to lunch.
(All buys and sells were at lunch time no
matter how many days were in between.
Yes on the telephone actually talking to a person )
In order to find out if I was "up". I had a transistor
AM radio at work. If a rally was underway and
I had calls I would look to sell. (the same for
puts in a decline)
On "Black Monday" my batteries went dead and
I couldn't hear market results. (not that it mattered)
All I had were puts.
(I always thought it funny that while chaos was unfolding
I couldn't hear anything)
Now at work the internet connection that feeds my room
broke. Because I still have email and access to a work
related server. No one is in too much of a rush to fix it.
I leave everyday wondering what numbers I will hear????
It seems like the indicator that is batting 1000 is. If I
cant hear the market. Watch out !!!
Thanks
diceman
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Registered User
Joined: 2/5/2006
Posts: 1,148
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QUOTE (diceman)
"and no two bears are the same."
-----------------------------------------------------
I remember hearing something on Bloomberg that
1932 to 1937 was what this market was being
compared to. I haven't looked at the chart but it
was considered the same type of environment.
you mean like this?
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Registered User
Joined: 3/24/2005
Posts: 40
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QUOTE (funnymony) in 1987, the market had a 300% move since 1982. 1987 was really nothing but big "profit taking". there weren't 2 or 3 bubbles all going on at the same time in 1987, like in 2008.
and no two bears are the same.
Can you elaborate?
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Registered User
Joined: 3/24/2005
Posts: 40
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In 1987 profit taking caused the crash, in order for the crash to repeat, that has to happen as well... are there profits to be taken? I don't think so...no crash.
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Registered User
Joined: 2/5/2006
Posts: 1,148
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pogram trading was a big issue in 1987. don't recall any big financial crisis, other than reagan hiring alan greespan.
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Registered User
Joined: 9/25/2007
Posts: 1,506
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QUOTE (funnymony) pogram trading was a big issue in 1987.
Exactly ...
And that led to the Programmed Trading Curbs ...
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