Kaboom!!!

Buyers had been warned repeatedly!!! Stay with the bears for now or take a holiday! Dow fell a whopping 387pts. Europe fell about 2% each. Needless to say, the Asian market will tumble today as well. This drop is only the beginning of a very deep fall in global markets. The fear is spreading and the selling is expected to accelerate this time round.

Just remember that fear is a much stronger emotion than greed. So markets tend to fall a lot faster compared to when it is climbing. It is just like rock climbing - it is a hard and difficult climb upwards to the peak but the time taken on the way down, it is almost always be a lot shorter.

KLCI & STI - bubbye for now!! If the 1,285 gives way, the KLCI would likely head back to 1,197 (its 38% Fibo). The 200-day SMA at 1,225 may offer little support. STI should see 3,100 (its 38% Fibo) next should 3,300 gives way!