Wednesday, 21 November 2007

Black Wednesday

Friday is supposed to be Black Friday - when retailers get out of the red and go into the black for the year.

Based on the Fed's statements yesterday and what happened in other markets overnight, this may be Black Wednesday. In the bad sense.

It's taken exactly 9 minutes for the Dow to lose 138 pts this morning.

Odds that they will need to suspend trading today? Odds that we will see the Dow at12000 before we see it at 14000 again?

BTW - oil very nearly cracked $100/barrel overnight last night.

Put your raincoats on and buckle 'em up tight, kids. This is going to be a stinker.

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