Tuesday, November 1, 2011

Turrbul Tuesday?

12:46 am (Hawaii) Some Halloween. I stayed in, hardly any trick or treaters came by and it was couch potato night instead of wild partying. This is what happens when people get old. Late nights and bad traffic and deafening music add up to a non-necessity. But this is interesting: Dow futures are -150, S&P futures are -22.50 and Nasdaq futures are -40.25.

Asia tanked overnight: Nikkei -1.7%, Topix -1.25%, Hang Seng -2.5%. Europe is far worse: Stoxx -3.9%, FTSE -2.5%, Dax -3.8%. So much for Sarkozy and Merkel and all that bullydoodoo talk last Friday. Don't mean squat now. It was all vapor.

I'm all cash so this doesn't hurt or help me. Okay maybe it hurts a little that I didn't pick up some FAZ at 35-36 even though I had HOPED it would fall to 35 when it was hovering at 42-44. I'm just weak that way sometimes. FAZ was 39+ at the closing bell yesterday and 40+ afterhours. I suppose it'll start trading premarket at 42. Still a long way back to 81 and even further to 100. I don't know when that happens. It just will. We could see a retest of 35 this week. All Sarkozy and Merkel have to do is start another ballroom dance to get the markets titillated again.

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