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August 5, 2007
Overseas Markets Bouncing Around Lows
Overseas markets almost all fell on the open, but some have now stabilized somewhat. The Nikkei is currently off "only" 0.9%, while the Hang Seng is off 2.4%. The Shanghai Composite is actually up 1.5%.A number of people I spoke to Friday seemed convinced we would see a plunge on U.S. markets tomorrow, and most of those people wanted to buy it, if it happened. That is usually, en masse, a recipe for no sharp broad-market decline at all. And that is, so far anyway, the way things are playing out.
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