LOL: interesting day on the street today…

[davelj]

[quote=stockstradr]

But I find myself COMPELLED to bet that sometime during the next 24 (or 36) months, we’ll see markets go way below today’s lows, as in 20%, or 30%, or more. That’s why I like the leap put options on the indexes with expiration out to at least late 2011. But those got A LOT more expensive during the last week!
[/quote]

I agree with your logic (although I don’t directly bet on these things). Having said that, Doug Short does a lot of great long-term chart work and this one is my favorites (very Grantham-esque):

http://dshort.com/charts/SP-Composite-regression-charts.html?SP-Composite-real-regression-to-trend

That trend line has 140 years of “truth” behind it. I wouldn’t bet against it. Translation: At some point we’re either (1) headed materially lower, or (2) the S&P isn’t going to return much over the next 10+ years. Either way, the S&P looks like a sucker’s bet from here.

[Arraya]

Interesting audio

“Guys this is probably the craziest I have seen it down here ever.” Here it is, memorialized for the generations and away from the now openly ridiculous disinformation propaganda of the mainstream media, just what a full market meltdown panic sounds like: straight from the epicenter, the S&P 500 pits. Luckily open ouctry still exists, if at least for shock value. Click here for a first hand account of the most shocking 15 minutes in recent market history. Fat finger my ass. http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits

[Arraya]

Interesting audio

“Guys this is probably the craziest I have seen it down here ever.” Here it is, memorialized for the generations and away from the now openly ridiculous disinformation propaganda of the mainstream media, just what a full market meltdown panic sounds like: straight from the epicenter, the S&P 500 pits. Luckily open ouctry still exists, if at least for shock value. Click here for a first hand account of the most shocking 15 minutes in recent market history. Fat finger my ass. http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits

[Arraya]

Interesting audio

“Guys this is probably the craziest I have seen it down here ever.” Here it is, memorialized for the generations and away from the now openly ridiculous disinformation propaganda of the mainstream media, just what a full market meltdown panic sounds like: straight from the epicenter, the S&P 500 pits. Luckily open ouctry still exists, if at least for shock value. Click here for a first hand account of the most shocking 15 minutes in recent market history. Fat finger my ass. http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits

[Arraya]

Interesting audio

“Guys this is probably the craziest I have seen it down here ever.” Here it is, memorialized for the generations and away from the now openly ridiculous disinformation propaganda of the mainstream media, just what a full market meltdown panic sounds like: straight from the epicenter, the S&P 500 pits. Luckily open ouctry still exists, if at least for shock value. Click here for a first hand account of the most shocking 15 minutes in recent market history. Fat finger my ass. http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits

[Arraya]

Interesting audio

“Guys this is probably the craziest I have seen it down here ever.” Here it is, memorialized for the generations and away from the now openly ridiculous disinformation propaganda of the mainstream media, just what a full market meltdown panic sounds like: straight from the epicenter, the S&P 500 pits. Luckily open ouctry still exists, if at least for shock value. Click here for a first hand account of the most shocking 15 minutes in recent market history. Fat finger my ass. http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits

[Arraya]

Times Square is being evacuated now for a “suspicious package”. Maybe it’s the Fat Finger from yesterday

[Arraya]

Times Square is being evacuated now for a “suspicious package”. Maybe it’s the Fat Finger from yesterday

[Arraya]

Times Square is being evacuated now for a “suspicious package”. Maybe it’s the Fat Finger from yesterday

[Arraya]

Times Square is being evacuated now for a “suspicious package”. Maybe it’s the Fat Finger from yesterday

[Arraya]

Times Square is being evacuated now for a “suspicious package”. Maybe it’s the Fat Finger from yesterday

[moneymaker]

I have a theory. Yesterdays drop was caused by the “Bloomberg Effect”. When there is a fear story running on Bloomberg the market drops.

[moneymaker]

I have a theory. Yesterdays drop was caused by the “Bloomberg Effect”. When there is a fear story running on Bloomberg the market drops.

[moneymaker]

I have a theory. Yesterdays drop was caused by the “Bloomberg Effect”. When there is a fear story running on Bloomberg the market drops.

[moneymaker]

I have a theory. Yesterdays drop was caused by the “Bloomberg Effect”. When there is a fear story running on Bloomberg the market drops.

[Author]

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