August 5, 2011 Computer Breakdown Persists
Analysis of Current Market Will Follow
While we cannot provide details with the computer tie-up, the serious decline on Tuesday, trailed by the near record drop on Thursday need not spell a substantial market drop.
There have been ten other sessions since 1999 with falloffs this large. Importantly, significant declines did not follow. For example, the 2009 bottom witnessed several such massive markdowns; then prices moved higher with almost no interruption.
We expect to substantiate these remarks with solid data. Unfortunately, this computer breakdown coincides with the current significant debt and price reaction.
Therefore, without the hard data, we nevertheless publish this heads-up.