I never get when cnbc gets all about how somehow some comment that some GE guy made, turns into a 250 point sell off.......
BULLSHIT.... These dumbasses who have tried to sell you on Decoupling...etc
Let me just give you my take. after a 2 day run, Many stops were tight at the end of the day as we ended the day, suddenly for 6 minutes the exits in the market were very Crowded.
There are 3 functions of a market price. Supply Demand and TIME.
sure the price is the price that you can get. But sudden spikes are just that Spikes. and just volatility that will shake you out....
have the past 2 days been a spike... were the last 6 minutes a spike.. sure... But it's the market trying to shake everyone out.... and it will work.
But that it's because Bla bla bla said some random stuff.... It's a thousand monkeys hitting typewriters. At one point one of them is going to hit some keys that you can believe cause something to happen.
But it's could have been caused by a Breeze from a butterfly's wings.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Thursday, October 30, 2008
Jeff imilt and GE bla bla bla
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