The explanation I saw said that the closing crashes are caused by mutual funds selling on the close to raise money needed for redemptions. That explanation makes sense to me. If so, then closing crashes should continue for a while because of the panic among investors. With this week about to be the worst week for the averages in history, I would expect the sentiment to continue for some time. This forced selling will exacerbate the decline. Anybody care to hazzard a guess as to when or where the eventual bottom might be? [more]
For months I was in the top 100 players on CAPS.
Now I am no longer in the top 300.
Worse yet, my bad luck here is mirrored in my real life portfolio.