Nikkei dioing its best to catch the Dow.

[Eugene]

“Jan 21 (Reuters) – European shares fell sharply on Monday, wiping out more than $300 billion in market value in their biggest one-day slide since the Sept. 11, 2001 attacks, as fears of a U.S. recession sparked a broad-based sell-off.

…

The slide in these three national blue-chip indexes led to a loss in market capitalisation roughly equal to the combined gross domestic product of Ireland and Romania.” (ha ha)

Russia closed almost 8% down, Brazil is trading 6.9% down, so BRIC meltdown is complete.

Germany is down 7% in one day.

[Eugene]

We are seeing gold drop because these speculators are having to liquidate investments to cover themselves. I would wait until total capitulation before getting into gold.

This market reminds me of August 07. Gold was falling too then.

[Eugene]

We are seeing gold drop because these speculators are having to liquidate investments to cover themselves. I would wait until total capitulation before getting into gold.

This market reminds me of August 07. Gold was falling too then.

[Eugene]

We are seeing gold drop because these speculators are having to liquidate investments to cover themselves. I would wait until total capitulation before getting into gold.

This market reminds me of August 07. Gold was falling too then.

[Eugene]

We are seeing gold drop because these speculators are having to liquidate investments to cover themselves. I would wait until total capitulation before getting into gold.

This market reminds me of August 07. Gold was falling too then.

[Eugene]

We are seeing gold drop because these speculators are having to liquidate investments to cover themselves. I would wait until total capitulation before getting into gold.

This market reminds me of August 07. Gold was falling too then.

[LA_Renter]

Does anybody think the Fed will step in here?? They did in August when this same thing happened. If the negative futures hold through tomorrow am I expect some kind of Fed announcement.

[LA_Renter]

Does anybody think the Fed will step in here?? They did in August when this same thing happened. If the negative futures hold through tomorrow am I expect some kind of Fed announcement.

[LA_Renter]

Does anybody think the Fed will step in here?? They did in August when this same thing happened. If the negative futures hold through tomorrow am I expect some kind of Fed announcement.

[LA_Renter]

Does anybody think the Fed will step in here?? They did in August when this same thing happened. If the negative futures hold through tomorrow am I expect some kind of Fed announcement.

[LA_Renter]

Does anybody think the Fed will step in here?? They did in August when this same thing happened. If the negative futures hold through tomorrow am I expect some kind of Fed announcement.

[davelj]

It would be nice if they just waited until the next regularly scheduled meeting on the 29th to give Wall Street the 75 bps it’s begging for. I know that’s asking a lot from a group of circus clowns that essentially bases its policies on Wall Street’s applause meter, but I dare to dream. But because waiting is probably the “right” thing to do, we will probably see the opposite – a “surprise” cut this week. The most profitable trading strategy of the last decade has been to “trade assuming the Fed will do the most irresponsible thing.” We’ll see if that trade is at the end of its rope or not. I’m cautiously optimistic.

[davelj]

It would be nice if they just waited until the next regularly scheduled meeting on the 29th to give Wall Street the 75 bps it’s begging for. I know that’s asking a lot from a group of circus clowns that essentially bases its policies on Wall Street’s applause meter, but I dare to dream. But because waiting is probably the “right” thing to do, we will probably see the opposite – a “surprise” cut this week. The most profitable trading strategy of the last decade has been to “trade assuming the Fed will do the most irresponsible thing.” We’ll see if that trade is at the end of its rope or not. I’m cautiously optimistic.

[davelj]

It would be nice if they just waited until the next regularly scheduled meeting on the 29th to give Wall Street the 75 bps it’s begging for. I know that’s asking a lot from a group of circus clowns that essentially bases its policies on Wall Street’s applause meter, but I dare to dream. But because waiting is probably the “right” thing to do, we will probably see the opposite – a “surprise” cut this week. The most profitable trading strategy of the last decade has been to “trade assuming the Fed will do the most irresponsible thing.” We’ll see if that trade is at the end of its rope or not. I’m cautiously optimistic.

[davelj]

It would be nice if they just waited until the next regularly scheduled meeting on the 29th to give Wall Street the 75 bps it’s begging for. I know that’s asking a lot from a group of circus clowns that essentially bases its policies on Wall Street’s applause meter, but I dare to dream. But because waiting is probably the “right” thing to do, we will probably see the opposite – a “surprise” cut this week. The most profitable trading strategy of the last decade has been to “trade assuming the Fed will do the most irresponsible thing.” We’ll see if that trade is at the end of its rope or not. I’m cautiously optimistic.

[Author]

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