Feb 25, 2013 (5:33PM EST)
Guys, we are back– with the biggest bang of this year!!
When our site was unavailable due to technical reasons, U.S. markets were witnessing their biggest fall this year.
If you are a subscribers of this site, you might have received an update from me in your mail boxes that Italian elections were causing havoc in U.S. and European markets.(benefits of subscribing *grin*).
And as it became apparent that the election results in Italy were not what markets were looking for and parties opposed to economic reforms were gaining upper hand, markets started to crash.
A real, hard knocking crash where U.S. indexes just ran for their lives right before the closing bell.
By the time closing bells sounded today, Dow Jones had lost -216 points, tumbling down much below 13,800 and S&P 500 had cracked below 1500 with a big margin, closing at 1487.
It was a bigger show from market bears than the Oscars.
I can’t wait to see how world markets will open in hardly an hour from now.
U.S. stock futures, which opened for trade soon after the broader markets closed down, have continued to remain negative.
The Dollar index continues to rise like a space shuttle and is now trading very close to the mark of 82.
As I had been writing, world markets were already in bearish trend and were just waiting for U.S. markets to join them.
And US markets have literally gate- crashed that bearish party in world markets!!
Now, like a true trader, I’ll wait for confirmation of this trend because any big move like this, whether up or down, must be confirmed in next few sessions.
To think, it was just the first day of a new trading week!
Such BIG events happened on this first day of the week! U.S. markets crashed, Daniel Day Lewis made Oscar history and Cheers2trade came back from the dead!!
Amazing, eh? (*grin*)
I wonder how big the second day is going to be in world markets.
Just one more hour to go and we’ll know the answer.
Good luck and see you soon in the trading ring.