Stocks, Currencies and Van Halen all come crashing down

Stocks today led by China overnight have come crashing off. The Shanghai (China Exchange) was off 8.8% on the back of restrictions put in place to stem hot money flowing into the country. This has caused a spill over "panic" to the Western Stock exchanges which came under intense pressure. The Bovespa down 7.3%, Bolsa down 4.4%, Nasdaq -3.75%, the Dow down 3.75% and the list goes on and on. Couple this with Emerging Market currencies coming off (hard) and you have the makings of a melt down. I am getting calls from alot of people asking me "What do you think?". I think you are caught just like me and all the rest of the Yield Monkey's. I cut all of my spot risk (actually stopped out!) but I continue to run my interest rate risk.

Hold on this ride is not over yet and with the calls I am getting there is going to be more blood on the street.

This and the Van Halen tour has been canceled.

Can't we all just get along ?

FXTRADINGIDEAS@AOL.COM