Very good news, although we could still be a few days to a week from the low. The good news is that KJ threw the kitchen sink in on the down side. Yes, I am mildly surprised we didn't have a giant up day as a result. But as I've said, when we get to an important low, the short side will win for a little while. Yes, even KJ could win for a while. But just having him all in on the short side is very important. You may recall that we had a giant move up for several days while he was all in on the short side a week or so ago. This time, no giant up day, although it started up, but then fell back to the zero line. This even though today was the most negative day we've had this entire year in the S&P 500. The last three days in the S&P 500:
Thursday, August 18: 68.48/173.49
Friday, August 19: 68.93/163.21
Today, Monday, August 22: 65.81/264.69
The Nasdaq 100 numbers stayed pretty much the same. It was at 1.39 on Friday, up slightly to 1.45 today.
Best-case scenario is we're at the bottom and we start up tomorrow. That wouldn't surprise me with a day like today, where a big rally fizzled and people think, oh, look, the rally couldn't hold, we must be going down some more. Worst-case scenario is we have a heart-thumping drop for a few days to a week, KJ makes some money for a few days, the Nasdaq 100 number finally goes negative, and then that's the low. But I still say we're at or near an important low.
Rob
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