Dow down 366, Oil near $90

Oct 19, 2007

The Dow Jones Industrial Average is down 366 points, or 2%, on Friday. This has been attributed to lower earnings, oil prices close to $90 and general recessionary concerns in the US.

Note: the media will blow this out of proportion over the next two days.

Stil, I wish to caution you that if we fall like crazy on Monday, it may be a reversal that prompts action. My suggestion: Don’t do ANYTHING on Monday, if you’re not a trader. Wait for the closing and then decide. Don’t use stop losses intraday as life will be extremely volatile.

Just a note to say this is quite serious, but don’t panic.

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