Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

bakrob99

Oct 19 Monday ... Is It Going to Be Black Monday?

Recommended Posts

1987 Oct 19th ... Market lost 23% in a single day. This Monday marks the anniversary with somewhat similar characteristics. Just about everybody has finally turned Bullish ... What would it take to really tank this market for a severe correction to shake out the weaker longs before a runup into the end of the year.

 

Stay tuned... Monday should be fun.

 

Comments?

Share this post


Link to post
Share on other sites

Ah memories (and not analogues btw)

Had sort of the same 'how does it just keep going up and up' questions

A fairly serious sell off started on Thursday afternoon, the week before, and lasted through Friday. Most thought it was pretty much over by late Friday. They fourcled the margin near the open on Monday, but being a beginner, I still had no idea what was in store ...

This was pre internet. I had a live FutureSource satelite feed. Watched the whole thing in shock on 5 minute big SPooz contract. Didn't have the stones to trade it but did do extremely well buying the Dec 30 yr US 2 ticks above the 76.14 lows on Tues night... 9K per car overnight...

Share this post


Link to post
Share on other sites

One thing I distinctly remember was how EVERYBODY who had any stocks or mutual funds were desperately trying to get their broker on the phone. Ha ... good luck. No one was answering that day.

 

Some guys who traded futures got killed when they went long after it looked like a bottom was put in ... just to get nailed on the final push down.

 

What a huge buying opportunity it turned out to be ... but only at the close ... or any day after.

 

Stay safe. I will trade my system and use my stops regardless of what I think is happening.

Share this post


Link to post
Share on other sites

yep, I had a 'direct' line to the floor but they wouldn't answer - which is one thing that scared me off. Called my broker and got through... they advised staying out... and then they called back a few minutes later about the margin increases.

Most don't realize how different calling orders in by phone was from mouse clicking them in... I didn't have direct numbers for most instruments and you could hold for a fill on mkt orders (or limits already in) but most transactions on any other types of orders took 3-4 total phone calls... a call to broker, broker called the floor, and they would call IB back freakin whenever with a fill,a nd they would then call you... anyway even a mkt order could take 30 secs to 2 minutes (or more) for a fill and the spooz could move 20 ticks easily during that time in those days...

They didn't have tarp money ;) , temp trading halts, or the PPT those days to stop a crash and the program trades had no extreme range filters, etc...

Share this post


Link to post
Share on other sites

I'm pretty bearish on the market right now...

 

How many of us watched the paul tudor jones documentary? I got chills when I saw this.

 

91% correlation...

 

MRCI Dow Jones Industrial Avg(Apr 1937-Oct 1938 vs Current) Chart Page

 

(In the documentary the correlations they were running in 1987 was 91-92% prior to black monday)

 

It may not be monday, but i'm certainly expecting implosion at some point in the near future.

 

But I agree with Brownsfan... for my trading I could give a crap which way its going as long as its going somewhere!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • ...hallucinates.... Student: “What if we gave the monkey LSD?” Guru: “The monkey already did LSD”
    • Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
    • As a man, the reality of life is the harshest part. I don’t mind looking older or becoming weaker over time; it’s nature.   Have you ever heard that the only people who will be loved unconditionally are women and children? Men will only be loved as long as they can provide until they are no longer needed. It doesn’t matter if you already did your best to get your kids to the best school or get the best things for them, if you stop before they’re done with it, there will be no thank you. The only thing they will remember is that they have to quit school at 15, ignoring all the previous 15 years of life you provided for them. The only people who will accept you, no matter what, are your parents. But in this situation, you might be that ungrateful child.   EDIT: Wow, I didn’t think this would get so much attention.   For those who disagree, I can only say that everyone has their problem. If you don’t get the chance to face such a thing, be grateful. Remember, sometimes what you throw in the garbage is something that someone wishes ever to have.” – ElZee, Quora   Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • The good thing i had noticed so far is that the traderpot value is also on the rise..
    • yup its a gradual rollout the right way in my opinion, its really good and its exciting for the sto in 2027
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.