As I wrote in one of my previous posts - this has a long way to go yet.
What is to come is going to be a financial tsunami the like of which we have never seen or at least those who were born post 1930's depression.
It is going to be a huge reality check for many people, used to living life on credit, enjoying the "I must have it now" mentality.
As for the aussie - it will recover in time. I have no doubt but imo it has a lot further to fall yet..... to around .55 cents against the US IMO.
Perhaps some upside tonight though.
I am watching - waiting.
In the meantime, going long on both Brent for December delivery and Gold.
Saudies have signaled a possible intervention, pulling back production to lift prices. I read they would like to see Oil between $80 and $100, {hit a low of 78.47 today} so, as it has dropped today below $80, intervention could be days or even hours away.
