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Monday, October 06, 2008

And The Final Bell Has Tolled

Bovespa! That's it. Down 15% right now. Trading was halted this morning for a while when it went into free fall.

Act 2 of the energy traders' apocalypse has opened with Brent Spot dropping to $85 and change. Crude inventories and refinery utilization in the US rebounding, and coal exports at Richards Bay still dropping. No support in sight.

All assets fall in coordination as money is withdrawn to cover other losses. Right now people are running to yen, but that is unsupportable.

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