Quote:
Originally Posted by fotze
http://www.thisislondon.co.uk/news/a...res/article.do
The stock market was in meltdown today as nearly £60billion was wiped off London shares.
A combination of poor economic figures and the worsening global credit crunch sent the FTSE 100 plunging.
At one stage the drop was the biggest since 9/11 in 2001, although the index of Britain's biggest companies later clawed back some of the losses. At lunchtime the Footsie was down 250.1 points to 5647.8.
Stocks getting killed today, good thing the US market is closed.
|
"When the blood is running in the streets, that's the time to buy." - Old Wall Street saying.
Is the blood running in the streets?
This is "only" about 17% from the top. Not huge as far as these things could go. When it's 25%, it's getting serious.
The one's that go straight down, like this one, tend to be followed by straight up.
It's the ones that drip, drip, drip on a gradual decline through a year or more that tend to break your psychology.
Have a nice day!!!
Cowperson