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Stocks markets – possible force selling on the cards

Posted by Adrian on February 20, 2009

Markets are on a knife edge. The global economy is looking even more dire as the UK and Europe grapple with continued bank losses and growing government/bank debt in Eastern and Western Europe, reporting that the UK government debt barometer is between 70%-100% of GDP. As discussed in Market rallies flop into new year January 2009. Big sell soon on the Australian Dollar, I didn’t see prolonged stock rallies into 2009. I was correct. In fact the main indices could be breaking through any supports they had in the last 3mths; which could mean forced selling could occur again. Any serious event, say complete nationalisation of UK banks, or Irish banks, or Ukraine, Austria, Poland going broke. Confidence in the US banking is completely gone and systemic fear in the US banks will ensure that indexes will collapse further.

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