Now that's pretty scary. Let me tell you the story. US market opened and went into a selldown. At about 12 midnight(SGP time), DOW was selling down at almost 200 pts! S&P went for almost 16 pts! Isn't that scary? Even I was worried (very difficult to fight pyschology) as I'm holding some stocks which profits had dwindled towards my supports. DOW then closed at about -100 pts, a good fight by the bulls. The reason why was many banks reported less than expected earnings other than Wells Fargo. Today, was not so bad in the morning. Actually in stocks went up in Singapore, but suddenly went into selldown again caused by China's decision to tighten lendings. Tonight we will be hearing earnings from Goldman Sachs (GS) and I read that it usually did not fail in expectations. So a rebound tonight.
Thursday, January 21, 2010
Bears then Bulls
Now that's pretty scary. Let me tell you the story. US market opened and went into a selldown. At about 12 midnight(SGP time), DOW was selling down at almost 200 pts! S&P went for almost 16 pts! Isn't that scary? Even I was worried (very difficult to fight pyschology) as I'm holding some stocks which profits had dwindled towards my supports. DOW then closed at about -100 pts, a good fight by the bulls. The reason why was many banks reported less than expected earnings other than Wells Fargo. Today, was not so bad in the morning. Actually in stocks went up in Singapore, but suddenly went into selldown again caused by China's decision to tighten lendings. Tonight we will be hearing earnings from Goldman Sachs (GS) and I read that it usually did not fail in expectations. So a rebound tonight.
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