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Dow's nearly 1,600-point plunge marks its biggest one-day point drop ever Largest intra-day point drop for Dow in history Dow suffers largest intra-day point drop in history 4:20 PM ET Mon, 5 Feb 2018 | 03:37 The Dow Jones industrial average marked its biggest single-day point drop on Monday afternoon, plunging nearly 1,600 points during trading hours before recovering to close down 1,175. Officially the Dow fell 1,597, a 6.26 percent drop. But the index of 30 large U.S. companies was recovering some of that decline as the day headed toward the closing bell at 4 p.m. in New York. The previous record drop during trading hours was 1,089 points on Aug. 24, 2015, a 6.6 percent drop. But in percentage terms, the worst sell-off in recent years was the "flash crash" of May 6, 2010, when the Dow temporarily plunged 998 points, or more than 9 percent. Trading would recover both days, but the Dow would still close down more than 3 percent on each of them. These more recent events challenge the sharp market downdrafts seen during the worst days of the late-2008 financial crisis. On Oct. 6 that year, the market fell 800 points during trading hours, or 7.7 percent, before recovering to close down 3.5 percent. The worst point drop for a single day was the 777 decline on Sept. 29, 2008, when Congress first failed to approve the government's bank bailout plan. It would later go on to pass that plan.  Honesty is the best policy. |
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"Pullback" -- Less than 10% from a significant peak. "Correction" -- Down 10 - 20%. "Sell-off" -- Down 20% "Bear market" -- Down 20+% Dow Jones from 26,616.71 down to 23,360.29 in 2 weeks lost 3,256.42 points or 12.23%, so it is a "Correction". S&P 500 from 2,872.87 down to 2,532.69 plunged 340.18 points or 11.84%, also called "Correction". Bulls make money, Bears make money, Pigs get slaughtered. Are you bull or bear or pig???  Honesty is the best policy.
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I have covered 60% of my shorting of S&P 500 because many stocks are in very good prices. The question is "Bulls" and "Bears" have reached a capitulation yet?? Will some investors who have "margin calls" continue to sell off even more?? What do you think? Honesty is the best policy.
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I actually missed the running-up trend. I've shorted too soon since October 2017. It took lots of "guts" for me to continue to short for so many months. Usually the shorters supposed have to wait until bad news comes. I don't like to hear Trump brags that the market went up because of him. It is a "long overdue correction". I knew from my guts. This day will come and with very violent sharp down. In my previous comments in my own blog, I predicted that "stock market" and "Bitcoin" will all go down. Look that Bitcoin from near $20,000 down to $7,000 so fast. No, i don't have Bitcoin because nobody can endure such an unpredictable move up and down for violently. Most rich people don't believe in bitcoin, e.g. Warren Buffett, Jamie Dimon, ... (please refer to my two blogs regarding to Bitcoin). Please do NOT trade Bitcoin, do NOT touch Bitcoin. Bitcoin has no regulation. It is like "Dutch tulip Mania" waiting to be vanish. It is not for you or me or any regular people. Only the people who bought at $1 can still hold it. I don't want you to lose all your hard-earned money on bitcoin. Stock market can go down but eventually it will go up, but NOT Bitcoin. I am covering my shorting S&P little by little. I have been to Netherlands in 1995 and bought 4 tulip bulbs and planted on my front yard but all 4 of them died within 2 or 3 weeks. Don't buy Bitcoin. Buy stocks. Honesty is the best policy.
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What goes up must come down What must rise must fall And what goes on in your life Is writing on the wall! If all things must fall Why build a miracle at all? If all things must pass Even a miracle won't last What goes up must come down What must stand alone And what goes on in your mind Is turning into stone! Honesty is the best policy.
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If you are not interested or don't know about stock trading, please skip this blog. I am a market contrarian, I started to short S&P500 since October 2017. OMG, it went up and up. I kept shorting it, Oct, Nov, Dec in 2017 and Jan of 2018. It was scaring. Shorted little by little till the best shorting price at closing price on 1-26-2018 (the highest price). My instinct feeling told me the index has been gradually higher for long time, when any bad news will send huge sharply plunge. It came on Friday, 2-2-18, with Dow down 666 points, and then Monday, 2-5-18. Dow sharply dropped over 1,200 points, my shorting average price was winning, so I started to cover some shares. Then it dropped even further, I covered more and more. It only few minutes of time. I covered 3 times but still have lots of shares. On Tuesday, 2-6-18, Dow down 546 points more at opening, my limited price order didn't get hit and all 3 major indexes are all closed at high. I like Google, so I purchased some shares at opening, by the closing time, it has some profits. Dow Jones from the highest on 1-26-18 to the lowest of today 2-6-18 plunged 2,838 points (or 10.66% ) in 7 trading days. It was a roller coaster ride. It is very volatile, treacherous and high-speed ride. Oh, my Goodness. Honesty is the best policy.
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