I received an email from a friend this morning who is warning of a Black Tuesday in the financial markets. He has been investing for 25 years and knows the markets ... and his warning is to watch the opening bell today to see what happens. Yesterday's Asian markets fell even as Wall Street was closed for the Martin Luther King holiday.
January 2008 is acting a lot like October 1987. Down every day, options expire on Friday, crash on Monday. We couldn't crash on Monday because of the holiday but come Tuesday morning, look out.His prediction:
As of 10:02 AM Monday morning the S&P will be down 47 points. This translates to the dow falling 350 to 400 points. The Bush PPT ( Plunge Protection Team) will be working overtime today. Looks like the S&P will trade today on Globex. Link here.He know this stuff way better than I so his words are a bit chilling. Fox Business News is covering it indepth this morning. More on the stock market here with these words:
Wall Street is facing what could be one of the ugliest trading days since Sept.11 after global markets went into a selling panic this week.Perhaps the worst will not happen. We shall know by the close of business today.