Stock Market Major Trend is Still Down

Yesterday, Dow Jones and S&P gave up all their gains since the rescue of Freddie Mac and Fannie Mae due to the uncertainty facing Lehman Brothers. The market experience continuing selling pressure until near towards closing. This morning, STI followed and give away over 3.1% to close at 2541.  At the rate it is going, I won't be surprise if it hit below 2000.

Market is expecting more troubles to come and Merryll Lynch has been siad to be next in sight. With such market sentiment, it would be safer to stay at the side line for long term investors. This is a day-Traders'  environment. You need to be fast and nimble. No time for careful thinking if you are playing the market now.

Today, I am expecting US market to have some further selling.