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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dale Baker who wrote (111595)10/10/2008 7:53:09 PM
From: Paul Senior  Read Replies (1) of 206191
 
"get their brokerage statements over the weekend, then submit panicked sell order".

The headlines in my local papers are all about the stock market rout, comparisons to 1929, what you can do to protect your money, etc. etc.

And so many people in the major funds have internet access to their accounts.

I'm figuring we're talking people's big money here and that not so many people will be so content to wait around for a brokerage/fund statement in this panic, so most just called their brokers/fund managers and said to get them out or reduce their stock positions. Also, it's not like it's been a horizontal ride and now over the cliff. The market's been going down for several months - so it seems to me anyway - and I'd be guessing most people have been considering selling for a while, and the precipitous fall this week has accelerated those decisions. I would hope some fund managers too have been anticipating this and selling to raise cash for redemptions.

Otoh, if it happens as you suggest - panicked sell orders Monday or Tuesday - and those are enough to crash the market even further - then it just delays the bottom for a couple more days --- maybe. Painful, very painful maybe, although I hope the bottom would be in then.
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