I agree. Although obviously 400pts will spook the stuffing out of all and sundry. I'm no rocket scientist, but I do know that the only way to clear the way forward is for the banks to come clean about their real exposure to shonky world debtors, and mark their receivable to market.
Dr. Marc Faber as well as Jim Rogers have been calling for a recession to clear the slate. Jim Cramer is now turning his head to the wall and throwing out the good with the bad.
No one knows how overvalued the Dow is, but it can probably stand to wipe 25% off the Index before people start jumping out of windows.
Perhaps tonight's the night to make a start.
dow up 430 points 2 days while asx unchanged, page-21
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$64.65 |
Change
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Mkt cap ! $12.53B | |||
| Open | High | Low | Value | Volume |
| $64.50 | $64.85 | $64.14 | $15.02M | 232.7K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 14 | $64.64 |
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| Price($) | Vol. | No. |
|---|---|---|
| $64.70 | 1008 | 1 |
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