I agree with your sentiment.
The circumstances are eerily similar to '87.
Furthermore, the traditional darkest days for the Dow are the Monday after the dismal Friday, when the punters spend the weekend percolating Friday's weakness. With computer generated trading that will multiply the trend.
When everyone bolts for the exit, hang onto your hat (if you can still afford to own one).
Cash is king. Gold is better than royalty.
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