The 27th of June 2007, a day to remember as chaos wrecked in the financial district. The market today fell 100 points, after it rebounded 30 points following a short-sellout. In case you're wondering, 100 points is the equivalent of a small crash, and with the market being so uncertain nowadays, it is even more clear to me that a crash soon is inevitable.
In the morning after I have awoken, I switched on my computer and saw the market down by around 20 points. I then spent the rest of my day in the city. Little did I expect the market to tumble by 80 more points, the same day. I actually thought the market might rebound higher today. For the last 4-5 days, the market has been decreasing steadily, so I thought, heck, its a good time the marke started to increase again! How wrong was I...
At 3.44pm, the market is down by exactly 109.0 points. It is going to close soon for the day. In history, big crashes usually follow after a small crash. For example, in 1987 the Dow Jones(in the US) fell by 100 points on a Friday. When the market reopened on Monday, it was down by a staggering 500 points. At that time, it represented more than 40% of the total index. For your information, today is a Thursday. And it is just three more days before the profit announcement for half year/full year.
I cannot forecast the future.
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