Thursday, January 29, 2009

Asian markets plummet; Dow takes back all gains

Asian markets led by Japan's Nikkei Index plunged Friday after a record drop in Japanese industrial production, bad corporate earnings and worries about Wall Street.

And the Dow today took back all its gains from the previous day and more. With the Asian markets down, the market floor of 8000 may finally be pierced for good tomorrow.

All the bad economic news and layoffs must finally weigh down the market and force it down for a long period of time -- a year or more. If you're still in the market, you risk much. But you've been warned repeatedly.

The short rally in financials is over.

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