Monday, September 15, 2008
financial markets for tomorrow and Tomorrow's price action (Monday, September 15, 2008)
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1. Bank of American is buying out Merrill Lynch.
2. Lehman is on the verge of collapse. Chapter 11 may be next.
3. Asian markets are closed.
Tomorrow's price action: Dow futures are indicating a gap down of 300 points on the dow (which is around 2.5%). If the gap does not close, it should signal deeper correction.
Insolvency fears are hammering indexes in asia. Gold soars. The dollar is being hammered, but it is just a rally before it start strengthening again as the dollar showed a lot of strength over the last few weeks (up 2000 pips vs. the euro which is huge).
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