Happy 27th Anniversary Black Monday

Happy 27th Anniversary Black Monday (ZeroHedge, Oct 17, 2014):

“It could never happen again… right?”

20141017_Black Monday 1987

And if you think this time is different – just take a look at the ‘tricks’ they used 27 years ago to stop the fall – A Fed statement and borken/halted exchanges…

20141017_19871

Charts: Bloomberg and Yahoo

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Bonus Clip – as we noted previously,

This is a market that has been seriously overvalued for some time,” exclaims Paul Tudor Jones,”and what we are seeing today is the piercing of the bubble…” adding that “Wall Street was uniformly unprepared for this kind of a drop.”

Of course Bill Griffeth asks should we buy this dip… Tudor Jones replies – so ironically –

“we should see massive Federal Reserve and Government intervention in the FX and debt markets to stem what has unquestionably been a panic.”

But Tudor-Jones cautions:

“prudent investors should use any rally to scale back into short-term Treasuries.”

The legendary trader goes on to explain he is trading fear as investors fear deflation and disinflation and warns

“every American needs to get their house in order, needs to be conservative in their investments, the next few years will be about capital preservation.”

Wise words for record highs…

1 thought on “Happy 27th Anniversary Black Monday

  1. Well, at least it is on a Saturday this time………The market is so rigged, it could be falling down and they would do all in their power to cover it up. The real investors are doing nothing, all the so-called activity on Friday the 17th that made it “go up” were greedy gut skim and sell…..and sell is the word, regardless of how they twist the numbers.

    We are so tied to the EU, it is keeping the dollar afloat. If it continues to move south, so will we. Where is Ross Perot when we need him? He warned globalization would turn the US into a third world nation…..and it has.

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