This commentary originally appeared on Real Money Pro on Sept. 30 at 8:45 a.m. EDT.Last night I was thinking about the stock market and trying to search for adjectives or a phrase that best described the wild price action that has taken place not only yesterday but over the past several months. In yesterday's morning session the DJIA was up by as much as 240 points, by mid-afternoon the DJIA as down by 140 points, and in the last 30 minutes or so the DJIA rallied back by 280 points, to end the day up by 145 points. The expression I selected to best describe the volatile and unpredictable nature of what we now call the U.S. equity market is the poker term "so sick." So sick is a phrase with much versatility at the poker table, and I have often written about the similarities between the markets and poker. "Sick call," "you are sick," "sick game," are just some of the ways this term is used. It can mean a horrible stroke of bad luck, truly amazing and almost unbelievable and/or an amazing stroke of genius beyond comprehension.
- Example No. 1: "I can't believe that I got in with pocket aces, hit a set and went all-in only to have Howard Lederer hit a sick runner-runner straight on me. The whole thing is just sick."
- Example No. 2: "I can't believe I am sitting next to Tom "Durrr" Dwan and Phil Ivey at my table, it's sick!"
- Example No. 3: "The villain moved all-in at the river, and Doyle Brunson tanked before calling with only an ace-high hand. The villain turned over complete rags, and "Texas Dolly" makes yet another sick read."