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Another Meltdown day at Wall Street, Short term bottom?
Three reasons this could be a trade-able bottom.
1) VIX spiking above 50
http://www.marketwatch.com/news/story/vixs-new-all-time-high-not/story.aspx?guid={496AE78A-A548-4380-AFF1-71D34C5269BF}
2) Dow down 800 points at one point during the day
(c) Marketwatch.com
3) Idiot Cramer calling everyone to get out of the market. He’s a good contrarian indicator imo.
http://www.msnbc.msn.com/id/27045699/
October 6th, 2008 at 10:52 pm
yup, saw the same 3 indicators as well. now let’s see if it plays out!