19 August 2011 (pre-open)


Overnight, major European stock markets were down 4% – 6%, while the Dow Jones ended down 3.68%. Asian markets just opened and as of this posting, the Nikkei is down just over 2.2% and the KOSPI is down 4.7%. Gold is pushing record highs $1,831 an ounce now. Sound familiar? A new wave of negative sentiment is approaching our shores. Just how “decoupled” is the PSEi from world markets? We’ll know in awhile. Be careful, Traders.

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