very short term it does look like we are in for stormy weather...

very short term it does look like we are in for stormy weather which would be typical for this time of year over sept-oct, all markets are down today and most are hugging on support lines or past them now. the w formation is so similar to 87 its not funny although the timing is not right, not just yet?

around 20% would be the standard drop if it was the "big one" so low 4000's would be the target, i cant see that happening YET although none of us have a crystal ball!

U.S. is touchy about housing bubble and rates, we are nervous about another rate rise, our markets have gone up for three years if you look at all of these factors and a few others there are more negatives than positives currently.

gold seems like a safer bet although it is a big wedge and has been hugging the trend line untill the last few days and could go either way although seems the most positive bet in these conditions with the us heading into a recession unless they play their cards very carefully not much room to move in the rates either way plus thye are coming up to election time.

high risk trades at the moment my money is on the short side at least till after 9-11 it may or may not have an effect this year. I will then revaluate the market it possibley has one more small ramp up till mid/late sept. but in saying that there will always be stocks going up especially the non cyclic and defensive sectors etc etc so its not all doom and gloom.

just some thoughts hope your trades are working out for you.

cheers!