More Bloodshed

OMG! Just look at the market today! Hang Seng is at the 15k levels. When I was trading a year ago, 22k was normal. Gezz, Nikkei is trading at its lowest level ever at 9.2k since 1987. Indonesia has halted trading after falling more than 10%.

The market seems to be deteriotating by the day! The European bank is not going to have a Fed-like rescue because they are too big so we can expect the DAX and others to follow suit when they open soon. UK however will see the Govt assisting with a bail out plan.

It seems the more Bernanke speaks, the more the market gets weak(er). The Asian session has seen a wipeout of $5 trillion worth of value in the past week. I would expect more bloodshed to come.

Asian session as of 2.17pm

Asian session as of 4.19pm


UPDATE AS @ 4.19pm
Europe has opened for about an hour and I'll post the figures and the updates on the Asian Session. The Nikkei has not seen something like this since the Black Monday in 1987 (yes, I'm reiterating how bad the situation and don't forget, shorts are banned so we're talking about real selling here from individuals, investors, banks, FIs etc who have these stocks at hand.

UK has come up with a rescue plan at US$87bn (50p) to prevent the collapse of their bank. Cash is King!




Yesterday's Closed Market