DJIA went up 100+ points last night, and STI opened with 27+ point gain, then it still ended the day with close to 60 points down. The Fed's bailout of the insurance giant AIG didn't seem to impress investors much, not even giving them much assurance.
Looks like the market is entering the panic stage. STI is technically into a zone where a rebound is imminent, but then it has not happened yet. People are still dumping their shares.
It will be interesting to see what will happen in the coming days.
Something sad for me. I am still making S$1000 loss per day. And also heard that the biggest loser of the collapse of the American financial system is not really the Americans, but the Chinese. The Chinese holds a large portion of the Lehman brothers' debt. Poor Chinese.
Wednesday, September 17, 2008
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