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Black Friday looms as Far Eastern markets follow the US down

05.09.08

There has been a storm brewing this week, and yesterday we saw major selling on the US markets, which was followed by heavy falls overnight in the Far East. It goes without saying that short positions are recommend today in London, with a 50 point fall to open.

We saw a big fall in US equities yesterday after unemployment data and weak retail sales, with dole claims up by 15,000 to 444,000 in the week to 30th August, while the running annual total
hit 3.44m, a near five year high. The FTSE 100 index dropped sharply near the close and there have been big drops overnight in the Far East. It should be another very good day for the bears, and more short positions are recommended.

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