Dow - The plunge has to wait for a while.

Marc Faber, "There is a chance that this market could behave like 1987 ....."

He was talking about the 19th October, 1987, the famous 'Black Monday' when the Dow plunged 22.6% on that day. 

If Dow were to plunge 22.6% from its current level of 15,400, we are talking about Dow dropping 3,480 points in a single day to 11,920 level.

To me, we are lucky if the drop is 22.6%. With today's computer driven 'high frequency trading', when Dow collapsed, it is going to be very much worst than that.

But it won't come so soon. Thanks to the US$80 billion per month money printing. Dow has to complete at least its wave (vii), (viii) and (ix) in the next few months. The return could be very juicy during the last euphoric surge before the plunge. 

  

Dutaland

Buyers came in very strongly in the afternoon to push Dutaland to close at 54 sen level. If the uptrend can continue tomorrow, the next up can be the mini wave vii.

Failure which, it could be a higher degree sub-wave (ii) correction that can take another 3 to 5 days to complete. 

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