Told You So…

The financial press are commenting on how the Dow fell “only” 3% today.
US market regulators announced an investigation into “unusual” trading activity.

Some people say that it was caused by a human error (that somebody put in a “billion” instead of a “million” when typing in a sell order) but I don’t think so. And neither does this article.

I don’t think today’s fall was “unusual” at all – from my post yesterday, I thought it was pretty damn obvious that the market was going south.

I knew I should have shorted when I saw it coming, but I’m currently out of the market. (Which may have been a good thing – what if my system was long?)

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One response to “Told You So…

  1. I think we traders will be forced out of existence by the political psychology. Notice that then markets dropped 1000 points a day, they want to fix the system. When it recovers 500 to 800 points a day, that’s ok, everyone celebrates. So computer buying is ok but not computer selling.

    No wonder the likes of Talib thinks politicians are all of lesser intelligence….Looking at how this game is being played, you have to be positioned for asset inflation but when the party ends, what will happen? I think they will press the RESET button and start another fiat currency….too bad if you are holding the old parcel when the music ends.

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