HUGE ASIA SELLOFF

NIKKEI DOWN 7% TAIWAN'S TAIEX OPENING LOCK LIMIT DOWN (3%)

KOREAN KOSPI DOWN 8.2% NIKKEI DOWN 7.4% WATERFALL

I know it's way early in the futures markets but, why haven't they reflected these drops yet if there is more to come over here? Any opinion?

The US futures were up early last night while Asia was down 2%. US didn't go flat till late.

es up 2.50

They are followers. Not leaders. The fear level can't be good anywhere.

The chatterheads seem to be blaming the US selloff on hedge fund sales and liquidations. Is the same kind of thing happening over there? Asian holdings of US securities has to be reasonably significant, no?

Edited by selecto, 22 October 2008 - 08:22 PM.

The US futures were up early last night while Asia was down 2%.
US didn't go flat till late.

Roger, Look at the S&P chart. There are tons and tons of stop right below 865 and 839.
A real test is when the index goes below those level and comes up for air......

Its a race to the bottom. The worlds markets are in sync and they are throwing around the "hot potatoe" and nobody wants it. I saw an interveiw where these 3 old fogies said just recently Japan was the place to be. I think that was Monday on CNBC.

Wonder how many suckas bought the japan ETF after that show ? (EWJ or something ?)

They "see" value !!!

"I see London. I see France. I see someone's underpants. Are they blue, are they pinck, Peeeeyuwww, do they stink." (as do the stocks and these old fogies recommendations. Unfortunately they (investors) are going to sell stocks around the world until everyone is completely neked and showing all their cards and flaws and stinky undies.)


Amazing what leverage can do, and how fast it works in reverse. We could undo over a decade worth of gains in under 6 months.

Was this in every advisor's 401 k 'worse' case scenario planning ? Huh ? Scenario planning ? what you be talking 'bout boy ?

es up 2.50

What if the ES is down 2.5, will you be thinking of selling?