Dow down 500 points, nearly 5%. Korea down 6%, Taiwan down 4%, Shanghai 5%, Hang Seng 5%. The capital market world is coming to an end. Or so it seems.
Too many sellers, too few buyers? Earlier there would be a Bid – the price someone was willing to pay for a stock and an Ask – the price someone was willing to sell at.
Last year it was a Bid and Demand. People wouldn’t ask. You just had to pay. Prices were going up.
Sometime this year, when prices fell like, well, elephants (I’m not good with metaphors as you can see) it became a Bid and Request, because you couldn’t quite ask.
At this point it’s a Bid and Plead. You can picture the buyer in a little crown sitting on a throne and the sellers kneeling in surrender with their hands clasped, begging for mercy.
Man, this market is getting to me.
