Nikkei (Tokyo) market is tanking this morning: down 11%

[JCMach1]

European stock markets were lower Thursday after Japan's Nikkei tumbled more than 11 percent overnight amid mounting anxiety that the world economy is plunging into a deep and protracted recession.
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The latest bout of selling in the markets was stoked by a record percentage fall on Wall Street Wednesday after weaker-than-expected U.S. retail sales data and a downbeat assessment from the U.S. Federal Reserve indicated that the world's largest economy is already, or about to fall, into recession... http://news.yahoo.com/s/ap/20081016/ap_on_bi_ge/world_markets




ummmm JOE who?

[ChairmanAgnostic]

1. dow to drop to what, 7800?

yikes.

[ProdigalJunkMail]

2. premarket is showing some modest gains

however, i would expect, given the history of the last couple of weeks, that the market will be pretty boring until the last hour of trading and then the bottom falls out again...maybe 8100-8000 today...

but the way things have been...who knows? i think no one.

sP

[ChairmanAgnostic]

3. my exwife once showed me modest gains, once, too.

the hedges are collapsing. that will drive it down like a Disney-tortured lemming off a cliff.

[ChairmanAgnostic]

4. at 8300 now, with trend lines going down

those hedges are really nasty.
a classier one admitted to losing 22% of value this morning. They are selling. Period.