Are we there now? Shaky markets mean?

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So are we there now? On the precipice? On the way to new and dangerous times? Markets have been monkey crazy this year and impressive gains have been made. Despite ongoing worries about the US housing market, the tense international situation and climbing oil prices, they've zoomed upward. The TSE and Dow Jones have both participated eagerly.
I guess most folks believed that silly old saw that the markets anticipate the future. Looks like the future has got a helluva backhand. Triple digit plummets are becoming the norm this week and suddenly folks are saying: well, I guess we knew this was coming.
So is it time for Cassandras or are we just witnessing markets digesting their gains before renewing their flight to Mars? The answer might be one a lot will care about by fall.
Before it goes back up there are a lot of people who have to sell low.
Now is the time to snap up the bargains. Many stocks will be over-sold because of hysteria.
You both could be right! But we are overdue for some soft markets and a soft economy. It is amazing to see how the housing bubble and crash has been sloughed off until now. A lot of people could get hurt if the key markets continue to slide. But that's how the big boys make their money. And maybe the current market highs have been their most important prep work to date.
So where's Toro on all this? This is his specialty. I hope his boat doesn't have a leak!

The markets are shaky and yet little fallout appears to be arriving in Canada yet.'s that's an interesting word.
I thought Toro would have posted on this thread. I think the current market gyrations are made for him. Maybe he's too busy counting his profits.
In Canada we're too complacent. We could be pushed into a major recession quickly if the US continues to fray economically.
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