Thursday, October 9, 2008

Black Friday

You will probably find many bodies lying on Wall Street, Shenton Way, London Stock Exchange or people jumping off Hang Seng Stock Exchange building. This is madness. There is no floor, no fundamentals, no use for what support in technicals. Whatever support level is nothing when people fear. Dumping at every instance, throwing everything they have. Nothing is going to save this situation now. What should have been done 1 year ago is being done now. What is the point really? Central banks are really called CB for a reason. Slow to react will kill the markets as shown today. look at the Nikkei index, I spotted this too late. The head and shoulders pattern that was breached at 11600 points. 11600 points to current 8000 pts is a fricking 3600 points almost equivalent to a 3 months pay for a mini contract for the futures short. Time to do my futures account. THis is the time.

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