Crashy

[captpackrat]

The US markets were closed today for MLK, but the rest of the world was still trading.  And it was an utter slaughter.

The FTSE 100 (UK) down 5.5%, Brussels SE BEL-20 down 5.5%, Amsterdam SE EOE down 6.15%, CAC 40 (France) down 6.8%, Australia All Ordinaries down 7.26%, RTS (Russia) down 7.38%, Hang Seng (Hong Kong) down 8%.

If the US markets open down 5-8%, that'll be a drop of over 600-1000 points on the Dow.  Futures contracts are already down about 500 points.

I am not looking forward to tomorrow morning.

Comments

[mortonfox.livejournal.com]

I have cash that I need to put to work. Although it's unlikely that 5% down will suddenly make everything a bargain, I'll check tomorrow. I guess I should also cover some of my short position before the inevitable dead-cat bounce even if I wasn't planning to do that until late 2009.