Few days ago I posted the above note, saying that I didn't think the Dow and the S&P 500 had hit their bottoms. As what I had anticipated, both indices continued drifting lower following my posting, which preceded the disappointing US jobs report -- that I had also predicted back in September 2007. The Dow has now retraced more than 1000 points.
Now, I would like to take this opportunity to say that I am currently speculating the possibility of a collapsing Chinese stock market. Let me stress that this is still a speculation, as far as I am concerned. There is some homework I need to do before I could elaborate on my thinking further.
to be continued...
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