Reminds me a tad of the late 87 drop. Huge day after day collapses. Something no one points out though, is the market, after correcting about 27% lat in the year was still ahead of its opening prices on Jan 1st.
Large sell offs (not this one yet) are marked at the near bottom with big buy back from companies buying their own stock. When you see that happening, happy days are coming.
Right now, don’t grab a falling knife.
With all the cash allegedly coming back home from across the pond, the lower taxes, and relatively sanguine cost structures these days, the cash has to go somewhere...just need to keep an eye out for where it will go. My guess, buybacks and MandA.
No crazier than the other conspiracies posted here:
Companies want their stock low so they can buy it back cheap...
(not serious)
On Friday, I posted that that Monday after a large Friday sell off tends to be a blood bath.
Apparently, I was not the only person with that theory.