FURTHER UPDATE: US Market is headed for a BLOODBATH. This is it - either it capitulates by hitting bottom and rebounding or it goes down and stay down.
UPDATE: I went shopping came back at 5pm and saw that the Yen has gain 4% against the US$. The Sing$ has sunk to 1.507 per US$. UK has sunk into recession. The Nikkei collapsed 10%. The HSI fell 8.3% and the STI fell by 8.6%. In my earlier post, I said bottom could be one of these 3 days from Wed to Friday. This looks like BLACK FRIDAY by all accounts. Someone said the bottom will be a day when the DOW open and plunge into the abyss then recover to close positive. Based on Dow futures (now -430pts), the DOW is set to open and plunge into the abyss....whether it will close +ve remains to be seen. Like I said all this is for fun, I hope everyone is still alright and watching with interest.
The time now is 12noon 24 Oct 2008. The STI is 1,660.19 ( -85.48).
....is the bottom???....at least in the near term?
It certainly feels like a bottom -the hopelessness, the despondency and fear.
They say nobody rings a bell at the bottom....I didn't hear any bells ringing...did you?