Aug

7

It's beautiful to see the stolid Germans selling madly on a 10% decline from 10043 to 9060 based on the fact that there was an official "correction". What fool these mortals be.

Anatoly Veltman writes: 

The straight line DAX decline for over a week may bear all appearances of being "overdone". However, it is my inclination to use the opportunity, and open a discussion: when is a stock market decline justified? This, obviously, begs consideration of fundamental factors, that usher a change. But also, technically: if at some point the chart-critical 9,000 level crumbles, what's there to prevent a 5/6/2010-style flash?

Jordan Low writes:

It is interesting how a correction in the US markets have become "7-10%", rather than 10%. Perhaps participants feel that other markets such as DAX or Russell 2k have dropped "enough" that the SPX will not reach 10%.

 


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