On Wednesday morning I suggested that the DOW may drop for the ninth consecutive day. At the end of the day, I was wrong as it ticked up 30 points. When looking at the one day chart for Wednesday I see that that the DOW was under water for most of day...about 5 hours by my take.
Well, if I missed with Wednesday's prediction, Thursday made up for it, in spades! A 500+ point drop in one day! Yikes! Naturally, the TSX joined in on the sell off and tanked about the same. The difference came on Friday when the US markets gained a tad when it was recognized that it had over sold, while the TSX dove another 217...mainly I suppose in reaction to the continued sell off of oil. Oil $98 on Monday, $87 on Friday.
Now, despite all attempts to salvage the US credit rating, Standard & Poors downgraded it anyway. Doesn't look good for the week ahead.
Me, I stayed home last evening to watch the Bombers kick Edmonton, now I'm headin' to the lake to drown my sorrows.
Well, if I missed with Wednesday's prediction, Thursday made up for it, in spades! A 500+ point drop in one day! Yikes! Naturally, the TSX joined in on the sell off and tanked about the same. The difference came on Friday when the US markets gained a tad when it was recognized that it had over sold, while the TSX dove another 217...mainly I suppose in reaction to the continued sell off of oil. Oil $98 on Monday, $87 on Friday.
Now, despite all attempts to salvage the US credit rating, Standard & Poors downgraded it anyway. Doesn't look good for the week ahead.
Me, I stayed home last evening to watch the Bombers kick Edmonton, now I'm headin' to the lake to drown my sorrows.
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