Asian markets tanking right now

[Celebration]

http://www.cnbc.com/id/26727113

Asia Gets Mauled as Markets Shed 5% to 6%

[lapfog_1]

1. The real question is how many cycles does this go around the globe?

I expect a further sell off tomorrow on Wall Street. We punched through the support level of 11,000... so under 10,000 is now possible (but not in one day).

Black Mondays are usually followed by Black Tuesdays.

Nothing has been announced that would serve to halt the Bears.

[upi402]

2. Thailand led the last crash. Inflation is high there and with the coup, the ousted PM

and the Muslim seperatists in the South Ismuth of Kra, it may destabilize the region again. Their currency is tied to the USD too.

Doh!

[anigbrowl]

3. Thailand's a bit player. Their influence will be marginal best.

More significantly, the Nikkei is off 8.5% % (!) and China has announced a cut in interest rates. More details at http://www.bloomberg.com/apps/news?pid=20601087&sid=aHhtaYZ_NzVI&refer=home Tomorrow is not going to be good here. In fact, I'd venture to say this whole week is going to suck like an out of control vacuum cleaner.

[upi402]

4. I put my hands on my maple leafs today.

Remember when I was getting called "pretty gold-buggy" for buying gold, even here. And I put all my stocks in a managed 100% international fund a couple years ago... looks like nowhere is safe except gold in hand now.