258 billion wiped off bourse ... rush to cash

Hmmm ... the index is now trading less than it was this time last year and now down 17.2% from the Nov07 high.

The XPJ (property index) is down 32% having wiped off the last three years of gains.

Program traders usually kick in around 10% and if the past is any indication, fundies will be selling off due to liquidations in the panic to cash.

Let's hope that we don't see a repeat of '87 ... noteworthy that as dramatic as the Oct87 correction was, it only wiped off that year's manic frenzy, returning to 1986 levels.




Cheers ... tight stops.


This is only my view ... read the black stuff.