Friday, 7 May 2010
Stock Market Collapse, wooww?
Yesterday, the market collapsed withing seconds by almost a thousands points or 10% , a phenomenon not see since 1987 . While it recovered most of its loses, intraday, one cannot dimiss the importance of such event.
Either it is trading error that cascaded into a "heavy sell" snow ball effect or is it in any case selling and getting out of the market as soon as possible after a very powerfull rally.
In all cases, the economical situation in Europe and globally does not warrant complacency and the risk of a deterioration both economically and politically has never been so high in the past 20 years or more.
Taking huge debt in this situation, at the current moment in time... is just foolish.