Record Nasdaq days on the downside
10/19/87 -11.35 %
04/12/00 -9.67
09/29/08 -9.14 No bailout, WB bought by C. Dow down 7.0%. S&P down 8.74%
10/20/87 -9.00
10/26/87 -9.00
08/31/98 -8.56 Russian and LTCM crash
10/15/08 -8.47% Retail numbers were bad, beige book bad.
04/03/00 -7.64
01/02/01 – 7.23% Funds lock in profits, Robbie Stephens downgrades EMC, INKT, NTAP, many others. NAPM Index at 43.7% (consensus was 47.1%), the lowest since April 1991 and indicative of a continued contraction in the mfg. sector
12/20/00 – 7.12% FDRY takes down infrastructures with the warning.
04/13/00 -7.02
10/27/97 -7.02 Asian Financial Crisis
09/17/01 - -6.83 Trading resumes after the WTC bombing
03/12/01 – 6.30% CSCO warns prior period, Barron’s pummeling fiber optics stocks, ERICY warns.
01/05/01 – 6.20% BAC rumors of bad shortfall due to CA utilities and CSCO rumors of missing quarter sent it down.
04/03/01 – 6.17% - ABRA, ITWO, RBAK, AXP, INKT, ENTU, BVSN, warn last night.
03/27/80 -6.15%
03/28/01 – NT and PALM warn the night before sending networkers down double digits.
05/23/00- 5.93%
10/07/08 -5.80% MS fears the Japanese bank will pull financing and BAC has horrid earnings.
11/5/08 -5.53% election results and profit taking after 205 runup.
10/09/08 - 5.49% GM and MS downgrades, shorts allowed back
11/12/08 - 5.17% Treasury not buying toxic mortgage assets.
Best Buy earnings warning horror.Intel just cut Q4 guidance.
GOOG below $300.
11/14/08 - 5.00% Worst retail month in Oct ever.
Put/Call ratio 1.01
Under 0.40 is Very Bullish sentiment, 0.40-59 Bullish, 0.60-0.79, Neutral, 0.800-0.99 Bearish, Over 1.00 Very Bearish. When many are bullish, this may be time to take profit.
VIX 66.31
When it runs below 20, usually a good time to take some profits. If above 35, good time to buy.
Sector Watch
Breakout of the day
$GOLD Gold 742.20 +37.20 +5.28%
Collapse of the day
$DJR REITs 130.26 -16.02 -10.95%
REIT are collapse after realtytraxx showed foreclosures up alot month to month.
Crude $58.60
Nat Gas $6.05 high inventories despite colder weather
Gold $742
Silver $9.49
Copper $1.70
DJIA 8497.31 down -3.82% -337.94
S&P 873.29 down -4.17% -38.0
NASDAQ 1516.85 down -5.0% -79.85
Quote of the day
These erratic swings make it hard to build positions or to even hold stocks. James De Porres
The portfolio was down 8.12% no greens.
In the 2000-2002 bear, we had 10 days of 5%+ declines. Now we are at SEVEN. The volatility is going to be high until we see the funds stabilize.
Until we get that big, dramatic bottom, it's still a trader's market.
GS at $66 means Buffet has lost about 40% of his 5 Billion dollars investment. |
