First of all depression was used centuries ago to accurately call a downturn in the economy as a depression - it was only after 1930's that politicians feared a depression would signal upcoming despair that recession was born. Panics were always used to call short term sharp drops in the market.
Is this really true? Surely the weakest hands are the first to sell. And if the market drops further but no one who's left is afraid of drops, what would prompt them to sell (and thereby pile on the panic)?If no one is afraid of drops and the stock market drops anyway, that means a level of selling by weak hands has actually not yet begun.
This makes sense. But still I don't see this exhibited in any of your excerpts.Eventually levels get hit where confidence is eroded and people feel all the years of saving is going down the tube and sell to keep something.
Perhaps it isn't "complacency" being shaken out as much as it's just a routine reversion to the mean.At the point where everyone "knows" the stock market is too risky stocks are a very good buy. It is easier to pick these points out over tops but the action I see means this was a very big top requiring a big drop to shake overwhelming complacency out of the market.
Yes, Holy Cow indeed!!! And OMG, here we go again today - - the Dow is already down over 300 points this morning. Pass the popcorn. This is amazing to watch.
Perhaps it isn't "complacency" being shaken out as much as it's just a routine reversion to the mean.
Were all in the feds petri dish.
I am afraid to eat popcorn now. May come down my windpipe.Down over 400 points as I type. Might run out of popcorn.
I am afraid to eat popcorn now. May come down my windpipe.
For the Doom and Gloom guys, this is why you aren't scaring me....
So, we've gone from the end of the world to everything is beautiful, and the afternoon isn't even over.
It's sort of like blowing the foam off the top.