Bears International

Just to record today's record breaking bearish news around the world.

Japan

GDP Growth data came out - lower than expected.

China

Shanghai Composite Index down 23% from 52-week high point - officially entering the bear market territory.

Korean Peninsula

South Korea has officially accused North Korea of sinking the war ship with a torpedo - saying they will submit the case to UN Security Council. North has responded it would be all out war if UN put more sanctions because of that - causing tensions in the region.

Thai

Another riots and violence have happened again in Bangkok and no one knows when it will end.

Australia

Government said they won't budge on 40% resource super profit tax. Fortescue Metal has shelved 15billion worth of future projects because of the tax implications and stock was hammered 7% today.

Dubai

Dubai world has announced they will restructure their debt. Restructing is essentially a soft bankruptcy.

France

France Finance Minister said Euro dollar was not in danger while German Chancellor Merkel saying it was in danger. France declared they would not ban short selling while Germans calling for more European wide expanded ban. Essentially, they are giving mixed signal and causing more uncertainty in the market.

Germany

German Lawmakers will vote on whether Germany should contribute as part of massive 750bn Euro bailout package. If, for some unfortunate reason, the vote fails, Euro will go freefall.

Greece

Wouldn't be perfect without Greece story, would it? Protests have started throughout Greece. Police are ready with tear gases.

Last not but Least - US of A

At 10:30pm Sydney time, 8:30am US Eastern time, weekly jobless claim data has just come out. Estimation was 440K claims but much worse than expected 471K came out. Financial Reform Bill another voting will take place today and that is expected to hammer banks' future earnings.

Summary

Sharp market fall is expected and it could be the beginning of the next bear trend. This could be THE opportunity of 2010.

Happy Massive Shorting!