The hurricane changed course, paid a visit to the Wall street after going through Asia and Europe , left enough destruction & skeletons ( very old huge institutions going under) for experts to write/study about for times eternity. My heart goes out for all the employees of these 2 institutions, who will have to start their lives afresh from today. News of AIG , and many smaller banks going under will add huge woes to the already stretched system..WELL THIS IS WHAT BEAR MARKETS ARE ABOUT..removing the acceses of the bull run.
Is there more to come. Yes surely why not , Time wise we are just eight months into this bear run which can last 18-24 months or more maybe..Will we have a RELIEF RALLY, surely whynot ,maybe soon when dust settles..lets look at supports again..SGX IS AROUND 3900..as written below ..3920 then 3845 & 3790 our last low..should lend support , FED also tonite may have some package (as usual in crisis ) for the financial markets which may give some positive boost to the sentiments..remember ..ALL BAD NEWS IS COMING IN HORDES ....there is always light at the end of the tunnel..BTW CRUDE IS AT RECORD LOW BELOW $92..any takers in stockmarkets (last time when we were at these levels ,crude was on fire and much much higher)....wrong time to ask this question....take your call as per your risk appetite..cheers.
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