as of this writing, S&P future is frozen due to downside limit. Looks like the credit crunch has been spreading to Asia, (most notably Korea and Japan -- off to 10 year and 5 year low) and possibly other South America countries beside Argentina could be in danger too. unfortunately, there is a good chance the next shoes to drop is the world currency. bluntly speaking, even the cash we are holding on could be worthless pretty soon. Dont forget the market has not priced in the upcoming stagflation and hyper-inflationary period.
Therefore, this is the good time to snap up some physical gold and silver to hedge against further meltdown. at the end of the day, you have something leftover instead of nothing.
At this point, you may throw out those technical support points for all market because we cannot prevent irrational folks doing panic selling at this moment. DO IT SOON. before it's too late.
This is not a financial tsunami. this is black hole where something must give to calm this crisis.
GOOD luck!!
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