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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (82416)	10/23/2008 7:22:15 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 94695

True. I am expecting this leg to end with a bang, not a whimper.

To: Real Man who wrote (82416)	10/24/2008 6:50:55 AM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 94695

I've seen this action in 1987, when the futures lock down, people start to panic and dump everything, this is a buying opportunity which we may not see again for another 20 years... this is not a time to panic out of the market, it's a time to panic into the market... So many times I've seen the SP's lock limit down, only to extend the limit AND THEN the market rallies... anyone who sold out during that second opening was left off at the bottom of the trading range, the market is then likely to rally from that extended limit low... This has happened so many times that's it's almost predictable... it's certainly possible that it won't happen this time, but I would be surprised if it doesn't... GZ