Attack of the 25th Anniversary Candle

 

 

 

 

The big red candle scared the MensaMonkey straight back to the XLI leaving a humbling -6.7% loss for the QLD trade.  MM could have left the scene last week but he still insists on a market peak sometime in November or December of this year.  Because of this insistence to hold the QLD, MM had to eat another 3% and also probably lost a few IQ points for being duped by the market that held so much promise earlier in the week.

 Today is options expiration day and the 25th anniversary of that 1987 market dip that was nothing more than a buying opportunity since the market sprang right back shortly afterwards.  I remember sitting in this tree, listening to some Oingo Boingo, writing checks to two mutual fund companies when the price of both funds dipped into the single digits.  Ahh, good times... and good timing...
 

 

http://www.youtube.com/watch?feature=player_embedded&v=1xL4teacBhA

Yup, still funny.  Just checking.

 

 We will see if the market has any more spring left in it this year.  NASDAQ 3000 is a nice round number to spring off from.  With today's disaster, the MensaMonkey is up only 20.9% for the year which is a mere 7% ahead of the S&P 500.  Oh well, accidents happen...

 

A classic!  Easy to understand the fender-bender.  50 foot women should not straddle an on-ramp under any circumstances.