A straight dump from the opening gap up. From about +1.2% to -0.5% in minutes. For now its a market mostly to watch as that sort of action is dangerous. As I said I would have preferred a gap down to create some sort of wash out and at least a short term rally.... maybe we will still get it but it's stomach churning for now.
As mentioned yesterday the Nov 2010 lows of 1175ish is an area I'll be interested in watching closely. At this pace we might get there soon.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows