The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (20925)	8/31/1998 5:30:00 PM
From: Cube	Read Replies (1) of 79240

Doug and Thread, This reminds me exactly of that Friday in October 1987. We had just about the same percentage drop as today, and everyone was talking about nabbing those bargains. Then came Monday. The S&P futures opened locked limit down and did not even trade for a while. By the time the day ended we were down 508 points which was a loss of 23% in just one day. That would equate to us closing tomorrow at 5850 on the Dow. While I don't think that will happen, I am nearly positive that we are nowhere close to a bottom anywhere except the Russell 2000. For anyone considering going long on anything tomorrow, I would wait until after the first 30 minutes. Shorts could probably have at it with impunity. Cube

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