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What a difference a day makes! Stock markets around the world have fallen on the average of approxiately 3% as Dubai, which many believes carries around $80 billion in debt, is seeking a delay in repayment until May 2010 thereby sparking fears of a credit crisis not unlike the 1998 Asian Currency Crisis and also sparking fears of a rekindling of the not yet dead current credit crisis. Credit default insurance rose as did the dollar, sending oil and gold lower.
U.S. stocks close early today at 1 p.m. and, generally, we will most likely remain onlookers to trading today rather than very active, waiting to what news the weekend brings.
As an aside, this is exactly why we say that investing is evolutionary, similar to a motion picture, rather than static, like a photograph.