Dow Jones Industrial Average Performance
- 5 days: -18.16%
- 1 month: -23.61%
- 6 months: -31.52%
- Year-to-date: -35.32%
Straight up carnage.
And, as Agoracom notes, Gold absolutely spiked in the last hour today. People who are scared flock to gold during market extremes. Fear is here for sure.
(click to enlarge)And how about the volatility index (VIX)? Ridiculously high at 64. The highest we've seen in I don't even know how long. But, as we've seen, the VIX could still certainly go higher and the markets lower. But, I'm going to say that this looks like a place to start positions on the long side. Make sure you're always hedged and you're not trading large positions; keep it small. This is starting to get ridiculous. I fully anticipate the deleveraging and hedge fund redemptions/liquidations to continue. But, as we all know, there's no way to pick the exact bottom. I will happily pick up some of their belongings at fire-sale prices and will continue to reserve ample dry powder should more opportunities arise.
