Markets were doing FINE.....until Mr Greenspan decided to DRAW attention to HIMSELF.......
He is the same Mr Greenspan who touted "irrational exhuberance" 2 years before the FACT.
For a person who is RETIRED he sure likes to come up with TABLOID HEADLINES............
2 months ago Mr Greenspan PREDICTED RECESSION in US.......then changed that probability to 60%......then to 50%.....then to 33%.............and wall street PANICS with his THOUGHTLESS UTTERANCES........................
Hopefully we will get back on track by close on thursday.......no thanks to former/RETIRED fed chief.
Dow & S&P gave up all the GAINS plus <.11% & .12%> while Nasdaq gave up GAINS plus <.42%>..................If you ask me that is not a bad close considering wall street is paid to PANIC & create conditions for MORE COMMISSION ie sell,sell,sell on anything.
I hope Shanghai does not react to an ex fed chief VIEW of what Chinese Markets should or should NOT DO !!!!
I do KNOW that Mr Greenspan is not an EXPERT on Chinese version of GDP GROWTH of 11.1% or Chinese STOCK MARKET which has been UP for 2 years in a BIG way......I wonder why it is UP......maybe it has something to do with Chinese Economy GROWING @ 10% for next 10 years.
AH NTAP is the disaster of the day DOWN 7+.
Good luck on your due diligence.
BLOG does not give BUY or SELL.
Saleem
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