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TUESDAY OCTOBER 07
All In A Day's Work Appallingly, overseas markets are attempting to do their best imitation of yesterday’s hideous action, which, if you didn’t notice, witnessed the biggest one-day percentage decline of the FTSE100 since Black Monday, Russia’s suspending trade after a key index fell to its lowest level since the 1998 default, Iceland hoovering up its banks and, oh yeah, the Dow enthusiastically tanking below the “psychologically riveting” 10,000 watermark. Bottom line, the world’s financial tourniquets are not working. Congress’s $700 billion bailout package is merely a drop in the subprime ocean. Traders who were breathlessly sinking money into commodities and the so-called “frontier markets” just weeks ago cannot get out fast enough. And where are they all going? Some real-life stories from the edge. October 2008New User?Sign up to get free access to TraderDaily.com
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