Subscribe Feed (RSS)Panic
September 29th, 2008 by eyal | Filed under Day Trading. |
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If you’re watching the tape, that’s what panic selling looks like. Accelerating, wide-spread and with little or no pause at all. Let’s see where it stops, if just to catch a breath.
I don’t think I’ve seen a day like this before. Or.. at least I can’t remember :)
NQ down near 7% and ES 5.5% at the moment, ouch.
Was the announcement of the vote scheduled or an untimed surprise? Looks like FOMC type market action before the vote was released to me.
Scheduled. People were waiting for it. Hence the sharp move early on and chop thru most of the rest of the day waiting for the results. Not the best environment for my style.