But the last time someone's always there for bail
--Toad the Wet Sprocket
Want to see what a crash looks like? Take a look at the Nikkei (NIKK) in two days.
The NIKK is off 17% since Monday. At one point last nite, NIKK futures were about 25% percent lower.
Domestic markets bounced after opening about 3% lower this morning. Final tally found the S&P 500 down about 1.5%.
Bulls will likely drink this news pretty, and a rally to relieve some pressure may be due. But there may be unfinished business, perhaps a lot of it, to the downside.
In any event, risk management seems the order of the day...
position in SPX
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
Kamikaze or Banzai?
Kamikaze was the most common and best-known form of Japanese suicide attack during World War II, they were similar to the "banzai charge" used by Japanese infantrymen. The main difference between kamikaze and banzai is that death was inherent to the success of a kamikaze attack, whereas a banzai charge was only potentially fatal — that is, the infantrymen hoped to survive but did not expect to.
~wikipedia
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