Turmoil In Asia Rocks Global Markets As Crude Oil Plunges And Gold Surprises
KingWorldNews.com
Sept. 1, 2015
On the heels of massive selling in Asian markets, including Shanghai, today two of the greats in the business sent King World News fantastic pieces that warn the turmoil in Asia rocks global markets as crude oil plunges and gold surprises.
Heavy Selling In Asian Markets
September 1 (King World News) – From Art Cashin’s notes: “Overnight And Overseas – Markets are in turmoil again. Shanghai closed down the equivalent of 215 Dow points despite reports of active “mystery” buying in the final 45 minutes of trading. Hong Kong, where there is no rescue team, was down twice as much. Tokyo was down the equivalent of 635 Dow points. European markets are also getting pummeled.
Most commodities are getting whacked with oil falling 2%. Gold in the odd man out, rising 1%. The Euro rallies against the dollar and the yield on the ten year dips back to 2.17%. Dow futures look to a 300 point loss on the opening.
Consensus – Bulls failed to do anything important with the opportunity they bobbled yesterday. Now the ball is clearly back in the hands of the bears. Watch crude carefully for signs that the upside reversal is over. Morning may bring more ETF pricing problems. Stay wary, alert and very, very nimble.”
The Rest…HERE
