A lot of people (including me) were expecting a positive open but BSC negative news quickly put the fear back in the market and down it was. I always find entertaining how mainstream media goes from “we are finally bouncing of the bottom” to “Doomsday!” in just 24hrs. The news and tone was clearly negative all day today.
Here is the trend table for today:
Only DOW charts today:
Nothing else to report. Maybe I can take a look at that BSC chart. Just for curiosity really, I don’t see a trade there and I am not looking for one. First let’s look at 10 years or so of data to get an idea of how devastating the market can be. For the average investor its just another train wreck. I wonder if there are any long term employees with pensions in BSC stocks. We are looking at something near a 10 year low at 29.91.
Now lets look at just last year to now. Yes, there were some great 20-30 points swings in there but the overall picture is still impressive, a three times accelerated downtrend (4 times really if you count the last push down almost vertical) from 170 down to 30$ in 15 months: