Here’s an excerpt from Trader Mike’s review of trading on Friday. Of note "indices moved back & forth about 21% today (about 7% moves three times)"!
October 10, 2008 Stock Market Recap
By Michael on Oct. 10th.
Excerpt: "This was a wild end to a wild & historic week. The indices swung violently back & forth across wide ranges on what I’m pretty sure was record volume. (I still need to find a good source of stock market records.) The indices moved back & forth about 21% today (about 7% moves three times).
Like most of yesterday before the fugly close, we started to see some discrimination in the selling. Here’s a shot of the performance by sector:…"
Click here for Michael’s table and charts. Here’s Michael’s $COMPQ chart. Notice how wide those bollinger bands have gotten? It used to be that that condition was not sustainable.
