The MSM appears so surprised that the stock market has crashed, but the truth is that it isn’t a shock at all. In truth, this crash is way, way past due. If the Dow Jones industrial average dropped another 10,000 points, stock prices would still be overvalued. I have been warning and warning and warning that this would occur, because stock valuations always return to their long-term averages sooner or later. On Monday, the Dow was down a unbelievable 1,175 points, which was the biggest single day decrease that we have ever witnessed by a very wide margin. In truth, it destroyed the old record by close to 400 points.
Soon after 3 PM, all hell broke loose on Wall Street. The Dow fell by more than 800 points in just 10 minutes. At one point on Monday, the Dow was down almost 1,600 points, but a brief rally cut those losses nearly in half. Nevertheless, the rally didn’t last long and stock prices hit bottom really hard as the market closed. At this time, the Dow is actually down more than 2,200 points from the peak of the market, and we are not too far from officially going into “correction” territory.
Once stocks begin falling, it can induce a enormous rush for the exits, and that is what took place yesterday. Specifically, investors began to freak out once the Dow broke through the 50-day moving average…
“As soon as we broke the 50-day moving average … we saw volatility spike,” stated Jeff Kilburg, CEO of KKM Financial. “It’s just been downhill from there.”
Other swells of selling were induced once the 25,000 and 24,000 barriers on the Dow were breached. As a way to safeguard against losing too much money, numerous investors have stoped losses set at psychologically-important levels. The subsequent comes from MarketWatch…
Amplifying the slump was computer-programmed trade set to dump shares at certain levels. According to traders, the Dow DJIA, -4.60% was set to trigger trades once it fell below 25,000 and 24,000, for example, and 2,700 for the S&P 500.
Markets more or less always go down faster than they go up, and once terror starts to spread on Wall Street it will not take much to produce a enormous stampede.
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