prior to Sept 18, 2008, the market had been on a down slope. i do not see the similarity that you refer to.
also, was the following day, the bankruptcy of Lehman or some event that triggered the drop? do you think the circumstances are the same today?
in some fundamental ways, we are much worse off today than in Sept 2008, but attempts to call future market movements by looking back at similar patterns in the past seems logical, but boy oh boy, the analyst at "bestonlinetrades" has found analogies from prior years that look very convincing but unfortunately they have NOT portended what happens next in today's market.
wish it was otherwise, but. . . .
i am skeptical, but i am a bear.
the dems put off the vote on the tax debate until after the elections.. they may have made a deal behind closed doors, dont tank the market and we'll error in your favor.... in all honesty, both parties are deep in bed ith wall st and all the other large trans-nationals.. it may be that the dems really dont care if they maintain the majorities... either way, they got a job either on capitol hill or as a lobbyists... there's lots of back doors for election losers to still have access to the gravy train of private industry connections without being called lobbyists...
Maybe we looked at this wrong, October may tank to really push the repubs in to power. If September was bad and we had an october rally people would forget? This way, wall street can push it's power in October to make sure Repubs get control of both houses. If markets are crashing in October, no dem will be voted in!
As much as I'd like to think differently, I'm guessing lightening won't strike twice. I made a ton in the initial meltdown & then lost it over the last 18 months. I think the world expects the gov't to continue to bail out the market. Maybe they will, but I can't see the fear now that we had in '08, where people really didn't know what was going to happen.
unfortunately, because of leverge 1000pt drops in a day are horrible for these 3x funds.
that is why they are naked shorted 5x times, the losses are going to be minimal compared to the gains had
It really hurts. Everybody is celebrating big time. Even my retired mother has seen her portfolio go up about 15% in the past couple months after some tough years.
For me to have lost 60% of my money hurts more than I could ever put into words. Not because of the money itself, because I came in this world with nothing and I'll leave with nothing, but just because I was so stupid. I started buying TZA in the 30s pre-split (170s at today's prices). I lost and lost over and over again and for some reason I kept coming back for more. I will always too quick to take profits in a correction and too slow to take losses.
I still do hold some TZA. I have a stop loss set at 24.50, at which point I will be down exactly 60% of my money. I like that symmetry. Just can't believe it. Think if I had been in TNA. I could have just bought and held for a year and I'd be up 100% instead of down 60%- I would need to make 5X my money just to replicate that difference right now.
Who says you can't buy and hold the leveraged funds? There is no risk on the bull side.