Where do you stand on the dump?

FirefighterB said: "What's the collective on where/how far/what's going to happen next? Short correction, big correction, deals now, deals next week, hang on, get the lube, etc.? Where are your views after this week?"

thezster said: "Seeing as it's only Tuesday... I guess I'll wait to post later on my overall views...... Suffice it to say... I'm not buying much today... waiting for a better entrance point... and am considering dumping my mutual fund for a month...or more..."

thezster said: "Investors are also bracing for Wednesday's revision to the fourth-quarter GDP, which is expected to show growth revised down to 2% from 3.5% previously."

newinvestor123 said: "I'm selling everything except a few of my best long term picks and getting out. I'm satisfied with 5% in the money market until the dust clears."

thezster said: "This week could very possibly separate the pros from the amateurs.... Good luck to all.... We might need it.:vomit:"

duck_oil said: "I've only been into stocks since June 2006 so this is my first real excitement."

Corey said: "I just set orders to be 100% cash. I would rather be out and safe than speculate at this point. I will take my 1.5% loss and walk rather than hope for a turn around."

DorisDay said: "My take: if China goes up, we'll go back up w/them. I think tomorrow we'll mimic whatever their market does. :th_dblthumb2: [url]http://www.hkex.com.hk/index.htm[/url] << as of right now, the HS index looks promising to my very untrained eyes."

dumaman said: "chinas market is open right now and the selll of is on heavy still .. just heard on the news.."

DorisDay said: "[QUOTE=dumaman]chinas market is open right now and the selll of is on heavy still .. just heard on the news..[/QUOTE] Cr@p!!! :("

JAP said: "I got out of every long position yesterday and this morning. I added to my short position on SMH -I now have 1000 shares short. I'm up almost $1500 today, so I'm not complaining. I'm going to stay short until I see the selling slow down. I anticipate the sell off will continue (albiet, less than today) for the next couple of days. Like Z said, we are going to have a major buying opportunity ahead of us. My advice for people who want to go long... stay in cash for now. When you notice buyers coming back in, [B]stay out[/B]... that first spike up is usually a [I]head-fake [/I]rally. Look for a consolidation pattern and make sure you confirm it before jumping back in."

JAP said: "[QUOTE=dumaman]chinas market is open right now and the selll of is on heavy still .. just heard on the news..[/QUOTE] You mean the Japanese Nikkei 225. It's getting hammered right now... Down over 700 points (4%). :sad010:"

Pb3190 said: "MSNBC just said China's market is still going down fast, I didn't catch and numbers... I hope this is not a correction and that it will go back up, but I think the market will continue going down, and lead into/feed into a bear market. I'm down 3.58% and am considering selling most of my holdings depending on how the next few days go."

Rickster said: "Random thoughts, FWIW. Whew. This is a relief. This steady up up up low volatility nonsense was getting on my nerves. I have been at 50% cash since last December. Time to double check the shopping list. This started last Thursday. Hot stocks and Treasury Interest rates began ramping down then. Money is flowing from stocks to Treasuries. The 10yr is off almost .25% in the last few days. My portfolio is off about 15% since its new high last week. This is probably only the first drop. Waiting for the second shoe. We have broken through the 50DMA. Another day like this will bring us to the 200DMA and a good buying opportunity. That would be about right. The options premium sellers have about 3 weeks to bring this back. I wonder how Holzie is doing with his iron condors and such. This should ultimately help the options sellers by jacking the premiums back up. Hmmm. Motive. I wish I had taken out some puts when the DJI hit 12,800. Last year in the DOW 12,000 thread I guessed that the DJI would reach a top of 12,800. The highest close last week was 12,786.64 and the peak was 12,829. Nuts. The DIA 122 puts are up about 1000%. Lots of trailing stops just got hit. Like dominoes. What are the settings for the curbs and the circuit breakers these days? It has been so long since we have had some volatility that I have lost track. Check out the world here. http://stockcharts.com/charts/candleglance.php?$DAX,$CAC,$NIKK,$HSI,$FTSE,$DJW,$AORD,$EUR,$TSE,$wlsh|D"

thezster said: "Don't know where the curbs/circuit breakers are at today... but noticed that the computer that feeds RTQ's on the DJIA crashed today... and when the backup computer kicked in... it showed the DOW down around 594 points before it got "synched"... They need to watch that backup safety... anyone watching at that moment would have dumped in their drawers....."

Rickster said: "So is that what that sudden drop was? I was checking every hour or so. I about fell out of my chair when I saw -500."

HornedOwl said: "[QUOTE=thezster]when the backup computer kicked in... it showed the DOW down around 594 points before it got "synched"...[/QUOTE] would that have been the sudden drop (almost looked instantaneous) from ~250 to over, 500 around 3pmEST? I was in the car at lunch, checking real time on the ipaq, by the time I got back inside, and had google up (with the delay), it made this drop before it backed up to the 3somethings and then slid into the 4's."

Rickster said: "Here is a link to the NYSE curbs and circuit breaker settings. [url]http://www.nyse.com/press/circuit_breakers.html[/url]"

Mr. Gekko said: "As many of you have said, I believe that this is the first of many ugly days. I don't think the following days will be as harsh but, we have further to go before we hit the bottom. For those who care here's Cramer's thoughts... [URL="http://www.thestreet.com/_htmlatb/markets/activetraderupdate/10341324.html"]The System Failed Us[/URL]"

thezster said: "[QUOTE=Rickster]So is that what that sudden drop was? I was checking every hour or so. I about fell out of my chair when I saw -500.[/QUOTE] That's what the sudden drop was. According to official explanations, the market was moving so fast that the backup wasn't able to tabulate properly when it kicked in... and showed the drastic drop.."

FirefighterB said: "The look at the lady on Bloomberg's face was priceless when she realized it went from 275 to almost 475. I thought she was going to choke on her tongue. Like many of you have said, I don't think I'm going to start setting up party favors by anything that happens today. In fact, I'm leaning towards taking any profits, well, at this point, overall losses (especially NTRI) and just keeping an eye on the market and those two until the market makes a decision. I do believe that NTRI is a undervalued and due for much more in the following quarters, however, I'm curious if it's smarter to stay in cash, avoid another dump further down, and buy as it comes back up."