The carnage continued as US market weakness spread around the world. The Japanese Nikkei tumbled 11.4% before recovering somewhat. The Nikkei fell to 8115,41, last seen since May 2003. The Topix index fell 7.2% to 840.18.

Australia’s S&P/ASX 200 fell 7.4% to 4004.90, New Zealand’s NZX 50 index gave up 3.5% to 2842.89. South Korea’s Kospi lost 8.7% to 1182.16. In Tokyo, shares of Toyota lost 5% and Canon shrank 5.3%, while property major Mitsui Fudosan plummeted 12.9%.

>

Sources:

Asian Stocks Fall, Set for Worst Week on Record; Banks Plunge

Kyung Bok Cho
Bloomberg, Oct. 10, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=apBR9iTfMQbI&

Japan’s Nikkei Falls Nearly 10%
WSJ, OCTOBER 9, 2008, 9:29 P.M. ET

http://online.wsj.com/article/SB122359980505421531.html

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

68 Responses to “Nikkei Falls 10%”

  1. bsneath says:

    Everything is going to be OK. Bush will give us another one of his flucking pep talks at 10AM tomorrow.

  2. Sam Jacob says:

    People are not throwing baby with the bath water.
    Why was RIMM up today. ? people are still bottom fishing momentum stocks.

  3. MM says:

    Wondering LEH got a big position to be settled in Japan? They were one of the most aggresive player over there.

  4. Winston Munn says:

    Washington D.C.
    9 October 2008
    The White House, Situation Room
    22:00 hours

    Bernanke: War’s over, man. Have you seen the Asian markets and the futures? They dropped the big one.

    Bush: Over? Did you say “over”? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!

    Paulson: Germans?

    Cheney: Forget it, he’s rolling.

    Bush: And it ain’t over now. ‘Cause when the goin’ gets tough… [thinks hard]…the tough get goin’! Who’s with me? Let’s go! [runs out, alone; then returns] What the fuck happened to the neo-cons I used to know? Where’s the spirit? Where’s the guts, huh? This could be the greatest night of our lives, but you’re gonna let it be the worst. “Ooh, we’re afraid to go with you George, we might get in trouble.” Well just kiss my ass from now on! Not me! I’m not gonna take this. Nikkei, it’s dead man! Hang Seng, dead! New York Stock Exchange…

    Paulson: Dead! George is right. Psychotic, but absolutely right. We gotta take these bastards. Now we could do it with conventional weapons that could take years and cost millions of lives. No, I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody’s part.

    Bush: We’re just the guys to do it.

    Bernanke: Co-ordinated rate cuts!

    Bush: Let’s do it!

    That morning at the drug store:

    Condaleza Rice to cashier: May I have ten thousand marbles, please?

  5. Mich(AU1881) says:

    I was trying to bottom fish last week to, escaped with few scrapes. I realized that the bottom doesn’t matter. The fact is the market will fall whenever that may be, then rally up, BUT then will come down again to test higher lows at best. So, all this bottomfishing is for that snap rally. In the bigger scheme of things, once it finds its bottom it will digest, go flat for a while with snap ups and downs.

    So Steve Barry is right to wait out on his QIDs because even he gets caught in the snap rally, he will have another chance to sell them after the snap rally when markets will dive even if it is just to fool more shorts into the game.

    That’s how I see it.

  6. Eh, Nikkei, Hang Seng, Kospi, Topix, the average American doesn’t care about that esoteric stuff.

    Instead, let’s focus on how this market collapse is affecting the average American:

    OH NOES!!1! MOTHERS COOKIES SHUTTERS ITS DOORS!!!!

    From The Consumerist: “If you’re a fan of those pink and white frosted Circus Animal cookies from Mother’s, either stock up or start priming your nostalgia, because this week the company closed its doors abruptly. They’ve cited the expected reasons—the rising cost of raw materials, and an inability to borrow in the frozen credit market. Unfortunately, the private equity firm that owns the company (it’s passed through at least four owners in the past 18 years) didn’t give employees the federally required 60-day notice, citing “unforeseeable business circumstances.” If they couldn’t secure money to pay salaries, that may very well be the case…”

    http://consumerist.com/5061209/mothers-cookies-goes-out-of-business-kills-off-circus-animals

    Aaaiiee! Everybody panic! Where will I get by diabetic-coma-inducing pink-sugar-cookie rush now?

    (On a more somber note, I noticed that the Ted Spread has climbed to an eye-watering 4.23 today. Forget the Dow, forget the equity markets – that’s the number to watch.)

  7. lost says:

    Where have all the good years gone?
    Nikkei is back to where it was in the early 80′s (Not adjusted for inflation!). What will the status of my 401k be in 25 years?

  8. Richard says:

    Capitulation as I define it. No comments after a post.

  9. Rich Shinnick says:

    My 3-year old puts all her money in her Piggy Bank. Looks pretty smart compared to some of the financial geniuses I have seen in the last year on CNBC. I told her that inflation would eat up her savings..she said

    “Daddy, at least I will have savings.”

  10. Joe says:

    Futures are getting killed again down 239. Do we see seven thousands tomorrow?

  11. Eric Davis says:

    yippeeeeeeee!!!

    This is great…. The truly Laissez-faire of us should be thrilled. The market is doing what it should, Shaking out the worthlessness in the economy.

    This is what we have hoped for for 80 years.

    Shake out all the worthless Hedgies treating the market like a casino. all the Legislators that are effectively Socialists. Any Bank that made a bad loan. Anyone Foolish enough to rely on any form of credit. Senior citizens relying on social security, instead of prudent money management. A car industry that is so worthless it’s still the same technology from 1910. Technology industry that is more a Kludge of Blogs and twitters and instant messaging and Flashy Shiny Bells and whistles than function. The Worker Bees who spend their day surfing the Web. The corporate heads that are just trying to get enough credit to “Keep dancing” for one more day. An entire economy functioning on the financial shell game and service jobs.

    Pack up your crap and move to the country, try and grow enough potatoes to ride it out.

    Yippee! Right?

  12. Jay says:

    Will the market rally after Bush’s speech tomorrow or sell off?

  13. Steve Barry says:

    Futures really tanking now…anyway I’d like to commemorate John Lennon’s Birthday with a song for Wall Street:

    Instant Karma’s gonna get you
    Gonna knock you right on the head
    You better get yourself together
    Pretty soon you’re gonna be dead
    What in the world you thinking of
    Laughing in the face of love
    What on earth you tryin’ to do
    It’s up to you, yeah you

    Instant Karma’s gonna get you
    Gonna look you right in the face
    Better get yourself together darlin’
    Join the human race
    How in the world you gonna see
    Laughin’ at fools like me
    Who in the hell d’you think you are
    A super star
    Well, right you are

    Well we all shine on
    Like the moon and the stars and the sun
    Well we all shine on
    Ev’ryone come on

    Instant Karma’s gonna get you
    Gonna knock you off your feet
    Better recognize your brothers
    Ev’ryone you meet
    Why in the world are we here
    Surely not to live in pain and fear
    Why on earth are you there
    When you’re ev’rywhere
    Come and get your share

    Well we all shine on
    Like the moon and the stars and the sun
    Yeah we all shine on
    Come on and on and on on on
    Yeah yeah, alright, uh huh, ah

    Well we all shine on
    Like the moon and the stars and the sun
    Yeah we all shine on
    On and on and on on and on

  14. Bruce in Tennessee says:

    I have another that Hank Paulson taught me:

    If you’re happy and you know it, clap your hands.

    If you’re happy and you know it, clap your hands.

    (and so on…..I know…pretty easy song, ain’t it..)

  15. Honesty says:

    If you search for tenderness
    it isn’t hard to find.
    You can have the love you need to live.
    But if you look for truthfulness
    You might just as well be blind.
    It always seems to be so hard to give.

    Honesty is such a lonely word.
    Everyone is so untrue.
    Honesty is hardly ever heard.
    And mostly what I need from you.

    I can always find someone
    to say they sympathize.
    If I wear my heart out on my sleeve.
    But I don’t want some pretty face
    to tell me pretty lies.
    All I want is someone to believe.

    Honesty is such a lonely word.
    Everyone is so untrue.
    Honesty is hardly ever heard.
    And mostly what I need from you.

    I can find a lover.
    I can find a friend.
    I can have security until the bitter end.
    Anyone can comfort me
    with promises again.
    I know, I know.

    When I’m deep inside of me
    don’t be too concerned.
    I won’t as for nothin’ while I’m gone.
    But when I want sincerity
    tell me where else can I turn.
    Because you’re the one I depend upon.

    Honesty is such a lonely word.
    Everyone is so untrue.
    Honesty is hardly ever heard.
    And mostly what I need from you.

  16. Jagmohan Swain says:

    Tomorrow either a take-your-breath-away sell off amounting 10-15% sell off or a 10% rally.That’s where we are headed.This is irrational behavior comparable only to Nasdaq 2000 bubble year.I am a buyer tomorrow, that too deep-in-the-money calls.

  17. Winston Munn says:

    I hope no one takes offense at my little Animal White House spoof – just my way of whistling past the graveyard.

    The fact is my knees are shaking.

  18. Eric Davis says:

    This is great…. Right?
    The truly Laissez-faire of us should be thrilled. The market is doing what it should, Shaking out the worthless parts of the economy.

    This is what we have hoped for for 80 years.

    Shake out all the worthless Hedgies treating the market like a casino.

    An entire economy functioning on the financial shell game and service jobs.

    Pack up your stuff and move to the country, try and grow enough potatoes to ride it out.

    This is great. Right?

    De-leveraging is a bitch.

    We reap what we sow.

  19. Jeff M. says:

    No way am I buying (or selling) tomorrow. Time to sit back and watch it unfold.

    There will be plenty of time to get in (and out). I think……I hope.

  20. Eric Davis says:

    This is great…. Right?

    The market is doing what it should, Shaking out the worthless parts of the economy.

    Shake out all the worthless Hedge funds treating the market like a casino.

    An entire economy functioning on the financial shell game and service jobs.

    This is great. Right?

    We reap what we sow. Find a chair.

  21. johnnyvee says:

    Winston. I get laaaaaaaugh evrytime that John Belushi line comes out.

  22. Eric Davis says:

    This is great…. Right?

    Good news to the Truly Laissez-faire.

    The market is doing what it should, Shaking out the worthless parts of the economy.

    Shake out all the worthless Hedge funds treating the market like a game of Texas holdum.

    Congress that spends all 2 days a week they are in session fighting about Cats and Dats.

    Politicians so Silly as to use Economic collapse, as a tool of their campaign.

    Any Bank that made a bad loan.

    Anyone Foolish enough to rely on credit.

    Senior citizens relying on social security, instead of prudent money management.

    A car industry that is so worthless it’s still the same old technology from 1910.

    Technology industry that’s greatest claim to fame of late that “I can Surf from my phone!”

    The Worker Bees who spend their day surfing the Web.

    The corporate heads that are just trying to get enough credit to “Keep dancing” for one more day.

    An entire economy functioning on the financial shell game and service jobs.

    This is great.

    We reap what we sow. Find a chair.

  23. Winston Munn says:

    This from Nouriel Roubini – I believe needs to be shared now:

    “At this point severe damage is done and one cannot rule out a systemic collapse and a global depression. It will take a significant change in leadership of economic policy and very radical, coordinated policy actions among all advanced and emerging market economies to avoid this economic and financial disaster. Urgent and immediate necessary actions that need to be done globally (with some variants across countries depending on the severity of the problem and the overall resources available to the sovereigns) include:

    another rapid round of policy rate cuts of the order of at least 150 basis points on average globally;

    a temporary blanket guarantee of all deposits while a triage between insolvent financial institutions that need to be shut down and distressed but solvent institutions that need to be partially nationalized with injections of public capital is made;

    a rapid reduction of the debt burden of insolvent households preceded by a temporary freeze on all foreclosures;

    massive and unlimited provision of liquidity to solvent financial institutions;

    public provision of credit to the solvent parts of the corporate sector to avoid a short-term debt refinancing crisis for solvent but illiquid corporations and small businesses;

    a massive direct government fiscal stimulus packages that includes public works, infrastructure spending, unemployment benefits, tax rebates to lower income households and provision of grants to strapped and crunched state and local government;

    a rapid resolution of the banking problems via triage, public recapitalization of financial institutions and reduction of the debt burden of distressed households and borrowers;

    an agreement between lender and creditor countries running current account surpluses and borrowing, and debtor countries running current account deficits to maintain an orderly financing of deficits and a recycling of the surpluses of creditors to avoid a disorderly adjustment of such imbalances.

    At this point anything short of these radical and coordinated actions may lead to a market crash, a global systemic financial meltdown and to a global depression. The time to act is now as all the policy officials of the world are meeting this weekend in Washington at the IMF and World Bank annual meetings.”

  24. Steve Barry says:

    Nouriel:

    Maybe we need a global depression to get out from under this mountain of debt. What else could accomplish this? It is time for the wealthy billionaires out there to give some back and help those that will be penniless. Buffett has 60 Billion…Gates has about 50 Billion…c’mon, nobody needs more than 10 Billion…that’s 90 Billion that can be contributed from only 2 guys.

  25. AKA_CES says:

    THAT RUSSIAN PROVERB, AGAIN

    Oh how boring the markets were in 2004, in 2005, in 2006, and in so much of 2007. That bull, so long in duration, so short in gain. And in such boredom, in such desperation for excitement — for “yield,” came the leverage that finally did the trick. In one year, the gains of five erased, and now the market time machine is eleven years back.

    So rapid, so many rapids. So captivating.

    Watching the markets mercilessly trace their destructive paths down the charts, one senses the fatal indifference of the invaders that laid waste the Earth in “The War of the Worlds.” Would that the forces that have traced these paths were to now vanish with the same rapidity as their Verneian ancestors.

  26. Henry says:

    Federal Reserve actions have been mostly impotent in this crisis. From a historical perspective, this feels like the Panic of 1907, etc, when we didn’t have a federal reserve system. And Buffet is not Morgan.

    I think that’s what’s freaking people out, the idea that the official institutions are not up to the task of fixing this mess. The system is not working.

    Even after 9/11 and in the middle of that recession, people still trusted Greenspan and the government to save the whole thing from collapsing. This time, no matter what the Fed or anyone else does, the maximum we get is a short-term pop and then everything drops again.

    Henry

  27. debreuil says:

    “Where have all the good years gone?
    Nikkei is back to where it was in the early 80′s”

    Hey, I lived in Japan in the 80′s. Those were the good years!

  28. bsneath says:

    Nouriel has not been wrong yet. We should take his advice and hope for the best.

  29. Winston Munn says:

    The troubling aspect of Nouriel’s suggested actions is that it would take some type of dictatorial control to implement these provisions – along with most likely martial law.

    Where is my tin foil hat when I need it?

  30. wtf says:

    re: Nouriel

    Wow!

  31. D.L. says:

    Steve Barry @ 10:31:24 PM
    Bruce in Tennessee @ 10:39:12 PM
    Honesty @ 10:39:23 PM

    So I guess times like these inspire poetry and philosophy.

  32. yernamehear says:

    I’m sorry, quoting permabears like Roubini doesn’t buy much. He has an ego just like everybody else and he is validating is multi-year bear call during this carnage: see also Fleckenstein (and others). When the rally comes, which will be a bear market rally, he will still be doom and gloom, saying “sell!” while I’ll be trading for a profit.

    I am in this to make money, not worship the most recently right stopped clock.

    Portfolio is down ~8% from its top. Up ~5%/year for past 2 years, and a double at least since 2000. Long term market timing via the tried and true trend following (you think this market has trended? BIG TIME- you are looking at panic, if you know how to read a chart.)

    I’ll wait for trend indicators to show a change and be buying big time. The 32% chasm between me and averages will be tough to beat; for a long time.

    Luck to you.

  33. mongbat says:

    Holy crap. Morgan Stanley is now on downgrade watch by Moody’s. Great timing, you freaking hacks.

    If they get downgraded, does that trigger collateral calls? I’m having nightmare visions of them suddenly needing to summon 5x the capital to secure certain loans. What say ye?

  34. The troubling aspect of Nouriel’s suggested actions is that it would take some type of dictatorial control to implement these provisions – along with most likely martial law.

    See, the neat thing is the government has lots of guns, and they could very well decide that $1B is enough for anyone, then come along and confiscate anything more than that.

    The best part is, because the Constitution is a living document, it says anything we want it to say, so it’ll be nice and legal too.

  35. Jtil says:

    Gee. Well then this information becomes a bit more interesting…
    http://www.democracynow.org/2008/10/7/us_army_denies_unit_will_be

  36. Philippe says:

    How to read the interelationships between a new Bretton Woods and gold ? Depression wars and gold?

    See hereunder

    http://www.sharelynx.com/chartsfixed/600yeargold.gif

  37. TheUnrepentantGunner says:

    looking at sso if it clears 33 im in for the momentum…

    of course, if it falls to 25 tomorrow im going to just chuckle.

    one thing im thinking is all the quarterly 401k statements hit people a day or two ago and people just sold after hearing the nitwit cramer on the todayshow.

    people in those plans cant be net short. they can only be cash or long. most are overwhelmingly long, and frickin running to cash, especially people intheir late 50s. those people that have enough to retire wont get back in… just count on their 2% interest and pray for low inflation.

    yuck.

  38. donna says:

    Damn, I invested in twinkies when I should’ve bought circus animals….

    sigh.

  39. philipat says:

    Almost every stock in the Nikkei is now trading below it’s Book Value. The Russian Index yeaterday touched a P/E of 3.7

    Either:

    1. The world as we know it is ending or:

    2. For those Short and/or in cash, there is going to be a LOT of money to be made over the next few years?

    Incidentally, since LIBOR is largely ProForma at present, why not scrap it and introducea new index managed by Central Banks, based on Inter-Bank Guarntees (As in the UK)? The Banks are no longer making any kind of contribution to the system, clearly do not ever again want to make money, taking advantage of a steep yield curve as they are supposed to, so what say we atart over and find a way around them? Having a fantasy LIBOR stand in the way of Global Central Bank action is wrong and should no longer be tolerated.

  40. Adam says:

    Here is how I know we are finally at a bottom: I can’t even login to my brokerage account for the first time in years for fear of vomiting.

  41. yernamehear:
    Fleckenstein says the bottom is near. He said that on Wednesday(His second column this week .. weird). I wonder what he’d say now, given the past two days.

  42. yernamehear:
    Fleckenstein says the bottom is near. He said that on Wednesday(His second column this week .. weird). I wonder what he’d say now, given the past two days.

  43. yernamehear:
    Fleckenstein says the bottom is near. He said that on Wednesday(His second column this week .. weird). I wonder what he’d say now, given the past two days.

  44. Momo says:

    If the government decides to put a stop to the credit default swap avalanche by simply declaring them null and void, would that wipe out stuff like SRS and SKF too since the underlying vehicle behind those are swaps?

  45. Jay says:

    IMO, there might be a sharp snap back rally followed by a further decline, OR a consolidation bottom where you have several false bounces. I’m not sure how one can say a bottom is near when we haven’t even witnessed either one. Except for the fact that the bottom is always a day closer than it was yesterday.

  46. Lephty says:

    We’ve done it! We’ve created a financial black hole.

  47. TheGuru says:

    Joe Klein,

    Fleck was asked on Fast Money today whether he would be short stocks tomorrow and he said no. Take that FWIW.

  48. dano says:

    down tomorrow, no longs into the weekend. buyers should be scarce. G7 will come out with something truly radical over the weekend. The hotlines are burning around the globe now. Something big and coordinated will come by next week.

    Babies are not only being tossed with
    the bathwater now, the whole crib, playset,
    swing,changing bag, and everything else is
    following. everyting is getting stomped,
    good or bad. 10% moves is stalwarts like
    Coke. Amazing…

  49. Bush don’t matter.

    Roubini certainly don’t matter.

    Nikkei? Who the fuck cares about Japan.

    Long-term? Fuck long-term. Fuck mid-term too. Nobody looks very far in the future anymore.

    Keep y’er eyes on the big issue, Gentlemen… and that’s the big green LEH monster who dances on the stage TOMORROW!

    The very moment that the market believes that the CDS settlement is behind us, that it’s in the past, then… BOOM! We’re up 5%, 6%, 7%… It’s CDS-survival party time and fuck everything else!

    Such a psychological change might take place very early Friday AM. We might see this BOOM! within minutes after the open.

    Remove the Lehman CDS concerns and you have nothing but dry undergrowth desperately waiting for a spark.

  50. juno says:

    well, I just doubt the wisdom of Bush and his senior officers.

  51. Philippe says:

    Philipat
    There is a considerable advantage for the banking system in the « stocks papers » lack of hoarding as it will provide additional liquidity to the banking system.
    Few pitfalls, the collateral in the LBO’s must be impaired but level 2/3 will provide the necessary cushion, not to worry ratings agencies are on the task!

  52. mddwave says:

    I am sure glad (ha) this crash is happening after the Beijing Olympics. It would have been too great a distraction so the world wouldn’t have been watching the Chinese.

    It seems curious that the greatest socialist countryy in the world has silent leaders (media wise) about the world’s credit crisis.

  53. sparky says:

    The Lehman CDS unwinding has already been factored in. Look for a long drop with an L-shaped end game. Then it’s back to business as usual.

  54. VVi11y says:

    Capitulation is when the only posts are song lyrics & poems

  55. debreuil says:

    “Stocks Mostly Lower As GM Declines – AssociatedPress”

    That is the best understatement in a headline I’ve seen in a long while.

  56. John H. says:

    Holy shit!
    When the Nasdaq bubble popped I was fortunate enough to be at a firm that called it. But I never thought I’d see this much of a sell off across the whole market.
    I wish I had listened to Barry and all you instead of my old boss. Crushed!
    I sold out yesterday when DOW was down 220. I’m happy to be in cash now…terrified I’m going to get whipsawed.

  57. Mike in NOLa says:

    CNBC Europe has some pretty hot girls, although they don’t have the same bimbo appeal as Erin, et al. They even look good to someone who has a pretty fair approximation of the flu after getting a flu shot Wed.

    Interesting that they keep Sylvia Wadwha, who is the only one whose articles appear regularly on the CNBC site and who is pretty sharp. I suppose even they realize they need some substance.

    One wonders how much of the sell off overnight is a reaction to what happened here yesterday in an arbitrage sort of way: a disadvantage of 24 hour trading.

  58. philipat says:

    “Nikkei? Who the fuck cares about Japan.”

    Maybe you should. The US is yesterday’s story. The US is flat for years and there is more money to be made in places that have valuations less than one third of the US AND still have growth going forward.

    As Palin fiddles whilst Nome burns?

  59. philipat says:

    “CNBC Europe has some pretty hot girls, although they don’t have the same bimbo appeal as Erin,”

    Give me a break. Erin has an IQ of <100, a nose like a witch (Broomstick coutesy of Harry Potter) and is a completely Ti*less wonder.

  60. rudyman says:

    Hello Barry

    Thanks for your unflinching and insightful views on the horrendous situation we all face. I seem to remember learning that the ancient greeks thought very highly of Solon (the law giver) who canceled all debt across the board by fiat.

    Perhaps it’s time to re-boot the system.

    Of course, the new (international?) currency would probably be based on the plutonium standard!

  61. JustinTheSkeptic says:

    I have believed in what Nouriel has said up to this point, but all those recommendations will only prolong the problem. What should be implemented is a wide ranging assuarance, throught he media by the governments of the world that all forms of daily living will be kept in place – availability of food, electricity, public water, etc.

    And then just let the cards fall where they may!

  62. Marcus Aurelius says:

    It’s contained!

  63. Rock says:

    Winston, that was hilarious. I just saw that movie again a few weeks ago. It’s good to have a constructive sense of humor. A lot of humor I witness is more on the level of Itchy and Scratchy anymore.

    The Great Depression occured because no government did much of anything. I’ve never seen world governments coordinate like they have recently or implemented these extensive bailout measures. I think (or hope) they will get it right. We sent a man to the moon on a rocket powered by burning money, I think they can solve this one too. Of course if they solve it, I’ll still be burned that they bought toxic mortgages from the banks with taxpayer money :)

  64. Eric Davis says:

    BR,

    You know what I really like this morning…. Besides economic Armageddon.

    250 comments on your previous post.

    Complacency into Armageddon.

  65. Jagmohan Swain says:

    It’s gapping down.Watch out people.Either we crash today, outright panic in the air that’s been missing, or we rally hard.Today is the day of reckoning.

  66. hellofromned says:

    why isn’t gold soaring in all this turmoil ?