re-visit of black monday of 1987 and aftermath...
were people who bought after the -508 drop crazy?
what happened was that after the massive rush out the doors, these brave souls went back in, not in loads, but cautious steps
the rebound off the 500+ plunge was on down volume of 606.1 million shares while the next day rebound of +102 was on up volume of 313 million. plenty of these 313 million may have been short covering.
this in practice reflects what happens in market theory.
it needs a big exit before nibblers come back in. these early and "brave" buyers do it in small portions. so, not necessarily balls of steel, per se.
i did not re-enter the market until a week later, and i really had little money then.
paul
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