G1A - Chart, page-90

Last nights DOW move was one for the record books, taking out 4th spot on the biggest % daily declines of ALL time with some very elite company in the top 10. 2 spots go to the 1899 - 1907 period, 4 spots go to the 1929 - 1932 period, 2 to the 1987 market crash followed by the GFC 2008 coming in at 10th place. If you just focus on the top 5 it looks like this...

1. 1987
2. 1929
3. 1929
4. last night !
5. 1929

You may never see a daily move like this again (-10%) in your lifetime given it took almost 55 years between 32 and 87 and then over 33 years to last night ! To put that in perspective the next 10% daily down move might not come again until 2075.

Given the above I think the equities markets have a similar DNA to the 1987 market crash, kind of panicky around the 30 - 35% down range and hitting major uptrend channels and taking about 30 days from top to bottom after a 3-4 x increase in the lead up. Given that you could argue there is now little or no downside left given the US market has crashed 30% in 28 days. Following the 87 crash the DOW rallied and took out its old highs in just 2 years and then really put on the after burners.

Kudos to those that picked up a few stocks in the last few days and especially today. You have nads or labia of steel. Slightly disappointed thgoh Galena didn't bounce but I think most of us had a crack in the low 20's and now waiting on news.

Btw I heard back from the company today and all good is the word...