Futures are way down accross the board this AM.....
Reasons are many and they are listed in no order:
-GM announced another huge $39 billion writedown - a non cash charge... reversing tax loss provision.........
-Oil @ all time high.....
-Gold another high...
-US$ has fallen to new low....
-China announces shift away from US$...to diversify in other assets..like Euro,Gold etc
-Nervousness about crude inventory report today.....
So what all this means to us as investors & traders.........
This gives another chance to buy strong stocks @ sale price.....
If you are not buying ...then stay put and do NOT sell in this AM panic.....
Markets will stabilize by close...another sign that this market is in bull mode.
Stronger/firmer close will give boost to investors confidence.......
US markets has to go UP because lot of foreign money is buying into US cheaper asset..like stocks listed in US.....another way to get rid of falling US $....
US markets will compensate for losses in US$ by bidding the US stocks UP......
So buy with conviction in a diversified mode.....do not worry about day to day gyrations...alway's look @ the big picture...which is as "bright as the sunshine"
Good luck on confidence building moves $$$$.
BLOG does not give buy or sell.
Saleem
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