$77 Oil and DOW and TSX both down 600 ptsWhat a blow to every stock on the DOW and TSX and worse for energy stocks who are getting it from both sides, Oil is dragging the SP down, and the stock market sell-off is also adding to the downside pressure. What we have here is a major market correction this week. The DOW lost 1600+ pts and the TSX lost 1100+ pts this week and Oil has lost $8 from $86 so this is definitely a meltdown week and Billion$+ has been lost in market value.
We knew the risk of investing in Sept and if Oct turns out as bad or worse or we have a market crash then we need to understand that the probability of that happening is looking to be more realistic. Don't forget about the Europe energy derivatives crises in the Trillion$ and the government has said that there will be no bailout and this crisis can easily come to our shores one can only imagine how much money from North America is in their markets. "Buyer Beware" is the 2 famous word in any purchase.
Traders will have the weekend to think about this week's action and hopefully cooler minds will prevail come next week and the markets will return with a positive outlook to finish off the month.
Stocks don't climb forever and sell-offs don't last forever.