posted on Sep, 18 2008 @ 03:03 AM
reply to post by Agit8dChop
European markets open soon. That will also give us some indication of what US markets will do today. Its chicken and egg territory with the markets.
US drops yesterday, effects Asian markets, both will effect European markets and then both Asia and Europe, cause reaction on US markets today. This
is one of the problems of the reach of globalization, everything is connected now and no market is insulated from the other.
Its hard to make predictions about the US markets, more buyouts, bailouts and financial troubles could cause it to drop further but sometimes the day
after a huge drop you see investors bounce back and start buying because everythings is low.
If I had to guess, I would say that there will be slight gains in the Dow today(18th) and if there is more news on more financial giants, you will see
huge losses tomorrow to finish the week with the Dow under 10,000.
Oil prices will continue to drop due to lack of growth and failing markets. I would guess by the end of Sept, oil will be ~$80 a barrel and gold will
be over $1000/ounce.
My market advice is buy food, medication and basic necessities.