is panic warranted

What we saw was not a crash but nevertheless, the US Plunge Protection Team did'nt stop the 416 points or 3% fall; perhaps they underestimated the Chinese fall and were slow to act.

Nevertheless, I expect them to be on the ball tonight after they have surveyed the markets and perhaps had a discussion with the Japanese and others.

It won't be in the US interest to have a full scale rout on top of the other problems they got, although the GDP can be expected to be less.

Foreigners, be they the US or Europe, would be engaged in margin trading and computerised trading. When markets fall overnight, overseas shares tend to suffer as these tend to be sold off to raise cash. Gold and silver shares as well as the metal shares come down as well as these supply quick cash to settle debt.

In the longer run, I am not too concerned about Gold and Silver, neither am I a seller of other company shares today.


Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.