6 Down Days in a Row, from Victor Niederhoffer
We've had 6 down days in a row taking us down 100 points with every variety of way to do it. 2 up opens, 2 big down opens, small declines, big declines. The kids book Caps For Sale comes to mind. Every kind.
Paolo Pezzutti adds:
Maybe this down streak of 6 anticipated lower sales is for Black Friday. Or simply, the market is schizophrenic, printing huge up and down swings driven by algos. My view is that with Europe already in a recession and the US with very few weapons left (practical and political), hoping to provide additional stimulus to the economy, even Apple will sell far fewer iPads and iPhones.
Of course, as far as weapons are concerned, we need to closely follow the Iran and Syria crisis. It could provide new elements of instability and deception from other issues. In this environment during sell-offs I am always tempted to buy lower opens…