Dubai woes roil financial markets

Futures down over 100 points London Stock Exchange shares down 4.2%


Dubai woes roil financial markets
Stocks fall and government bonds rise on flight to quality..

Perfect timing for the announcement. Black Friday is looking Red. The Dubai economy was just a mirage in the desert.

Nice aquarium though.
http://www.youtube.com/watch?v=OYnZ4E6YAuo

TSX is down close to 200 points today watch out tomorrow is going to be a blood bath.

Looks like the exhaustion gap from Monday on the Dow has now been confirmed with this news and reversal. The intraday gap which is a very rare occurrence on stock indexes got completely filled with yesterday morning's initial push up to 10,479 and then reversed ending slightly lower. As long as the Dow stays beneath this 10,479 level (intraday high 10,495 is really close to it too) I'm extremely bearish. It looks like the Dubai news was the popping of the intermediate term asset bubble since March. I expect us to quickly venture down to the March lows within the next 2-3 months. If this indeed marks the end of the rally it will be pretty remarkable that it retraced 52% in exactly 50% of the time, common fibonnaci ratios (not the 52, but close enough!).

Buy the dips been working all year, chinese stocks on sale in pre and bargins imo. Good luck