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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Friday, October 24, 2008

Market Collapse may have arrived

I wake up to news machine (CNBC) ranting market may collapse,, hyping up, etc.
Boy I better be careful what I put in my blog.....

UPDATE: 10 am, no crash, that's what I get for listening to mainstream media. Day's not over could end lower last hour or so.

Please remember, if you buy or sell anything today, its "panic day" so be careful.
Also the market could get shut down, resulting in whatever you do being "stuck" there until Monday.

In any event, if the market collapses, the GDX play (possibly at 15 bucks now!) is a opportunity of a lifetime for the next 6 months to a year.
Good luck!

NEWS:
Russia may default
Futures "circuit breakers" blew, meaning the futures where down so much, they where shut down
South Korea Stock market halted after down 10%
VOLVO Net intake into Europe sales 115 compared to 41,970 a year ago
We are EXACTLY 79 years from the date of the 1929 market crash (not really news, but may help panic)

NOTE: SEE previous post Dangerous times for next support level
(image source)

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