A bloody Monday for financial markets

Rumours are flying over Greece's impending bankruptcy (again) and Germany's politicians shouting their mouths off over what Athens will or will not get (concessions, extensions, more money, more time...). Spain is banning  to go short on equities. China's economy  is still slowing down, oil prices fall and the USD goes into overdrive.  All that jazz while Yahoo!Finance is frozen stiff, stuck on Friday's figures, not revealing to us ordinary folks the damage being inflicted right now.

With the bad stuff piled up suitably, the 'news' of old news, in the meantime, has created a bloodbath in the market streets from Sydney to Frankfurt.  It is 10:00 p.m. in Singapore now, and the losses amount to -4%.  Efficient markets my foot! The world was a piece of cake till Thursday last week.  Now we're going through probably the worst day year to date as far as I recall.  But what will come of it? 

Mercury retrograde, is a time when you should not trust any so-called reality, fact or news.  Sure, we feel battered for a while  (those of us that are invested) but this surely must be recognised as a purely impulsive market action, one without immediately obvious reason other than fear that these rumours could become fact imminently.  But will they?  Why can't we wait?  By the end of the week things will probably look quite different.  At least, we will then know what or who spooked the markets, - and get on with serious investing.  So I hope. 

If things turn out differently from what we expect in the coming 2 days,  I will comment on the likely path by Wednesday! And will of course take action on our portfolios, too, if necessary. 

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