I agree with you---with options expiring tomorrow, and the market going down, and margins being called in, and the correction.....folks need to sell off or add money to their margin accounts, and covering is practically mandatory--tomorrow, & although volatile as heck, MIGHT see a recovery of some of the losses today---ESPECIALLY if there is good squeeze action for those that aren't paying attention today.
Money will be made today by the shorts, that is for sure...but money will be lost by those on margin, too. As BSD notes--correction is way overdue---and it IS time to go long on TKO at a very good price.....
Most know that August is a 'back to cash' month, anyhow...so there will be a lot of folks, once we calm down marketwise, that will be picking up cheap shares all over the place---but 'fear rules' retail in situations like this---resulting in a sell off as well....IMO, though, I think the hedgies and other funds are a bit fearful, this time, as well---because this is not just the U.S. market......it is everywhere...
HA! CNBC actually had a discussion 'should we just let folks lose their homes? or should there be some protection base set up for them?' SOOOOOOO Glad that my home is paid for!
