As the US Markets are on holidays for the Martin Luther King holidays the overseas market are taking some heavy declines. The news out is related to our subprime market here in the US and the Bank of China preeminent announcement of a significant write down. As i am writing to thee blog the German DAX is down 7.2% and the Indian market down 7.5%. Those numbers are significant as a 7% decline in the DOW would translate to around 850 points.
As of 1:40 pm the DOW futures are down 400 points!!!!! but the most significant barometer, the S&P 500 is down 90 points!!!! All I can say is that tomorrow morning will be pretty or should I say very ugly if the futures stay at this level. Well seem we hit the nail right on its head, that of the markets going down a possible 750-1000 points but we will have to see how it plays out tomorrow.
Without a doubt I will be buying futures on any significant gap down as we should form some based tomorrow or wednesday as this should confirm the capitulation I have been noting in the Blog.
Let's see what opportunities lies on this bad news and take advantage of it and I will leave you with this.
IT IS NOT TIME TO BE AN INVESTOR BUT A TRADER.
Heard it here first 750-1000 point down down!!!!!!!!!
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