"It could never happen again… right?"
And if you think this time is different – just take a look at the 'tricks' they used 27 years ago to stop the fall – A Fed statement and borken/halted exchanges…
Charts: Bloomberg and Yahoo
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Bonus Clip – as we noted previously,
"This is a market that has been seriously overvalued for some time," exclaims Paul Tudor Jones,"and what we are seeing today is the piercing of the bubble…" adding that "Wall Street was uniformly unprepared for this kind of a drop."
Of course Bill Griffeth asks should we buy this dip… Tudor Jones replies – so ironically –
"we should see massive Federal Reserve and Government intervention in the FX and debt markets to stem what has unquestionably been a panic."
But Tudor-Jones cautions:
"prudent investors should use any rally to scale back into short-term Treasuries."
The legendary trader goes on to explain he is trading fear as investors fear deflation and disinflation and warns
"every American needs to get their house in order, needs to be conservative in their investments, the next few years will be about capital preservation."
Wise words for record highs…
via Zero Hedge http://ift.tt/1rJX98u Tyler Durden