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V. 5:11 (384-384): Black Monday Postscript by Technical Analysis, Inc.
V. 5:11 (384-384): Black Monday Postscript by Technical Analysis, Inc.
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Black Monday Postscript by Technical Analysis, Inc.
The record plunge that took the Dow Jones Industrial Average to 1738.7 on Monday, October 19,1987 will replay itself in the nightmares of traders for many years to come. However, most technicians saw it coming and followed their indicators onto the sidelines well before the carnage started. On the day after the fall, when volatility was extraordinary and the trading floor was still bloody, we called some of the top technical analysts to inquire after their financial health. They were, without exception, watching the Exchange from a safe distance.
The record plunge that took the Dow Jones Industrial Average to 1738.7 on Monday, October 19,1987 will replay itself in the nightmares of traders for many years to come. However, most technicians saw it coming and followed their indicators onto the sidelines well before the carnage started. On the day after the fall, when volatility was extraordinary and the trading floor was still bloody, we called some of the top technical analysts to inquire after their financial health. They were, without exception, watching the Exchange from a safe distance.
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