Monday, 23 July 2012

FTSE down by 1.72%, Dow Futures down by 1.19%, what do we do?

Dear Friends,

Yes, it is that Euro problem again.

From Marketwatch:
Spanish government bond yields picked up where they left off Friday, soaring to another round of euro-era highs. The yield on the 10-year benchmark ES:10YR_ESP +3.00%  traded at 7.45%, a rise of nearly a quarter of a basis point, and well above the 7% threshold widely viewed as potentially unsustainable in terms of long-term government borrowing costs. The two-year yield ES:2YR_ESP +14.00%  jumped nearly 0.90 percentage point.

So what do we do now?

My suggestion is not to press the panic button now. At this moment, we shall see how the US market react today and 2moro. Let us see how the Dow Jones will be after the opening. If Dow Jones manage to stabilise and recover to within 80 points, 2moro the Asian market might stabilised.

Of course if Dow still remains 100 plus points down today, Asia market might still drop.

If Dow manage to recover 2moro after 2day's fall, it means that market is still strong and today's fall is a ploy by the BIG players to enter market buying.

Let us wait and watch.

Rgds
Daniel
www.danielloh.com

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