Wow I was right about the X Factor. What a day it was, pretty much every market took a hammering and the Aussie market dropped about as much as it dropped on 9/11.
if you look at the big picture, the economy is doing great, unemployment is at its lowest, exports are up. So over all the pillions holding up the economy are doing OK, no cracks there. Once the jitters about the US sub-Prime mortgage settle down, I am expecting the market to rebound.
Keep an eye for stocks that are defying or resisting the downtrend. These stock will definitely take off once the market returns to its normal uptrend.
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