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Friday, May 7, 2010

Are You Ready, Really Ready to Sit Down at This Table and Play a Hand? (DOW Drops 1,000 points, up 650) (VIDEO)

"Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception." - George Soros

"If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks." - John (Jack) Bogle

"A market is the combined behavior of thousands of people responding to information, misinformation and whim." - Kenneth Chang

Ok, this even was just too huge. I've had numerous phone calls. Numerous conversations about the events of Thursday, May 6, 2010 in the U.S. Equities markets. So as I'm known for videos, I thought today would be a day, to put a video together; in addition to the blog entry that I had earlier.

As follows, are my thoughts, as well as a "play by play" as to how my day went ...

(Video Included. If you're seeing this entry elsewhere and cannot play the video? Click this link to go to the exact video entry ...)

What did I say a few days ago?

Remember, the credit markets rallied yesterday, as well as today ... which is what you'd want to see, when the stock market and commodities plummet. If the credit markets fall, while the stock market falls ...

Then it's time to worry.

But remember this as well. We saw a day just like today ... in 1987? Before the big drop.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have over 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.


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