NEws

• China Cuts Interest Rates as U.S. Financial Turmoil Adds to Global Risks
• U.S. Industrial Production Fell More Than Forecast as Automakers Slumped
• World May Face `Japan-Like' Stagnation Amid Credit Crisis, GIC's Tan Says
• Industrial Production in U.S. Fell More Than Forecast: Table of the Day
• Greenspan Says Crisis May Be `Once in Century' Event, More Firms Will Fail

Economic progress became worst, shown by US data and China rate cuts. Whats more are words of 'wise' man appeared to bring fears into a new level.

Time to turn away from the market? Nope, watch closely. Every movie have a peak, a moment of intensity. Margin calls, shortist, cut loss, fear... all will bring about an accelerated plunge, which if occur usually never fail to bring about a technical rebound.

Asian bourses are closed today, giving shortists another reason to remain short. Curious as to why there was hardly a rebound in STI today? Traders expecting poor opening in asian bourses to bring additional drag to local markets.