Well its Monday and as thought after the US closed down 290points the ASX has opened and the
ASX200 is down 113 points already.
Where will it go today?
Waiting to see what China does today, if China goes down then the ASX will have a shocker.
Banks leading the downward movement, CBA down $2.15 already.
CBA failed to sell more than half of its latest share placement.
Gold pretty much unchanged all but for a couple of dollars US.
The market correction continues with some bounces pulling punters in along the way.
This is a bad correction because it has reasonable bounces which lure people in.
Just my opinion but I think the ASX could hit 4000 and the DOW perhaps 15000 or lower. Who knows where China is heading, you just would know given the level of government control.
