From Pen thread Post# 7026804
"Local investors should be careful because part of last night?s fall was driven by hedge fund liquidations after the Bank of Japan intervened to drop the value of the yen. This destroyed the carry trade where investors borrow cheaply in yen and invest in the US. So once that is hit it triggers mass sales everywhere. This said sentiment is obviously very negative, with growing fears Europe faces more disasters and the US is going nowhere. Hold tight, but don?t sell now unless you need to because the market will bounce sometime soon."
http://www.theaustralian.com.au/business/opinion/hold-tight-stocks-in-for-a-shocker/story-e6frg9io-1226108850442
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