Re: Markets in Meltdown
Dow closes just above the 12000 level at 12040, whole nasdaq and S&P close at their lowest since 2006, with oil prices rising to a record level and more bleak news from the financial sector, including a default at mortgage lender Thornburg Mortgage Inc. and news that Merrill Lynch & Co. is opting out of the subprime mortgage market.
We could see 10,000 on the dow from here.
get ready for a rough ride.
Being an election year.....I don't think DOW would drop to 10,000 but again as I have always said we are in a recession and I see a very slim chances of recovering in the next couple of months atleast. Best bet is to short on the financial sector or the popular banks.......I have a very strong feeling that one or more of the banks are going DOWN......needless to say that Citi group will be saved by the feds interference.