This is getting a little bit insane. I made some
comparisons to Oct 2008 over the weekend of copper, coal, SPX, VIX.
Today is following that roadmap EXACTLY. Could the same
over-leveraged financial institutions be getting the same margin
calls of 3 years ago? Could the next five days of trading be
a total and unbelievable bloodbath of selling?
Summary:
Oct 3, 2008 (closing values):
$SPX: 1099
$VIX: 45.14 -- note: $VIX peaked at 89.5 on Oct 24, 2008.
Oct 3, 2011 (today's closing values):
$SPX: 1099
$VIX: 45.45
That key date of Oct 24, 2008 was the same day that many
"leading" sectors bottomed -- at a peak in the $VIX. Those
were gold stocks; and also, most importantly, the $HSI (hang seng).
Copper didn't bottom until December '08.
Title: History doesn't repeat..... really? This
Posted by kalinm on 3rd of Oct 2011 at 08:16 pm
This is getting a little bit insane. I made some comparisons to Oct 2008 over the weekend of copper, coal, SPX, VIX. Today is following that roadmap EXACTLY. Could the same over-leveraged financial institutions be getting the same margin calls of 3 years ago? Could the next five days of trading be a total and unbelievable bloodbath of selling?
Summary:
Oct 3, 2008 (closing values):
$SPX: 1099
$VIX: 45.14 -- note: $VIX peaked at 89.5 on Oct 24, 2008.
Oct 3, 2011 (today's closing values):
$SPX: 1099
$VIX: 45.45
That key date of Oct 24, 2008 was the same day that many "leading" sectors bottomed -- at a peak in the $VIX. Those were gold stocks; and also, most importantly, the $HSI (hang seng). Copper didn't bottom until December '08.
You know Kalin steve was saying the fullo measurement
Posted by garyl on 3rd of Oct 2011 at 08:45 pm
of the bear flag was down to 986...... very close to your chart....
But everyone else seems to be thinking we move to 1050 - 1040 area and then bounce....