August 08, 2011
– Comments (4)
I was expecting a 300 to 400 pt drop followed by some government fixing. I saw some early bond fixing followed by a 700 pt drop and the day ain't over yet. I'm taking this as government capitulation.
I was so sure we were going to have a 400-500 point drop that I figured I was probably wrong. When discussing it with a friend yesterday he made that call and I told him it would probably only be a 50-60 point drop.
Paper money really smooths out the boom/bust cycle, doesn't it?
David in Qatar
I could have honestly made money today just buying put options...sheesh...
I bought 12 different put options on crap today.