Monday, October 3, 2011

UPDATED: S&P 500 Trades to August 9th Low, Bounces (a little)

UPDATE: The index broke the prior low and closed at 1099.21. That is bad for the longs. Very, very bad.
Original post:
One of my brothers went 82nd Airborne, here's his favorite ABN joke:

A new recruit is scheduled to take his first jump from an airplane after completing the tower training.
The jumpmaster hurried the newbies to the door and more or less stampeded them through, the static lines did their thing and the parachutists settled in for the ride down.
All except for one poor fellow who probably should have been at home with his mom and dad.
When he got to the door he froze in a four-point against the frame and the jumpmaster couldn't budge him.
Finally the sarge says "Son, if you don't get moving I'm going to whip my dick out and fuck you up the ass".

Later, when retelling the story, the newbie was asked "Did you jump?"
Newbie: "A little. At first".

The low point for the S&P during the current decline was 1101.54 on Aug. 9.
Today we got down to 1101.97.
Currently at 1109.47.