The pigs will not leave the feeding through until they feel pain.
When this ends, it will be like no other. We already got a warning with the flash crash. Now we have circuit breakers.
Circuit breakers could make things worse. Open, lock limit down-nobody gets a chance to sell. Open again, lock limit down. Then the fear of not being able to execute a trade sets in and the mother of all collapses happens in the briefest time in the history of the stock market and everybody rides it down.
All I know is QE has to end eventually. Unsustainable borrowing has to end eventually. Market loving low revenue increases has to end eventually.
Obamacare hits the fan next year and no economic consequences? People with any brains will be exiting before the unknown of Obamacare.
The first sign should be the market not going up on any "good" news. Maybe we are getting close to that now.
Two lock-limit down days in a ROW?! Would NEVER happen. That would cause a MONUMENTAL crash though especially with margin debt where it is, futures open interest (dumb money is insanely long), etc.
Sentiment: Strong Buy
We had that 2007 or was it 2008 on MLK weekend two days in a row limit down first no one could trade in US because it was a holiday then the following trading day. Thet was 72 pts w/ no trading. It will happen again.........the million dollar question is when.
We are doomed to go higher until the rubber band breaks. History is repeating itself except that the ending this time will be outrageous by historical standards because of all the distortions (money printing/race to the bottom by central banks, bankrupt European nations, impending China implosion. A perfect storm of sovereign default is brewing, leaving nobody to bail out anyone.
It takes time and/or a triggering event to put things over the edge. Even some bulls acknowledge the long term problems, but they just cannot resist feeding at this risky table until they feel pain.