17/6/2011 1:20am

US markets fell after lunch into the negative zone after news of Basel likely to increase bank capital surcharge for large banks to 3.5%, due to fears of another financial collapse. Bank stocks are down. But it could just be that investors are taking profit. I mean, the US market have been declining almost everyday, so if there's a chance to get out, then they're going to take it. On the technical side, the Dow Jones (currently at around 11.9k) is heading towards a support level of 11.8k. And it seems like the Dow has a support area every 200 points or so, at 11.6k, 11.4k, 11.2k, 11k. But if it goes below 11k, then it's going to drop fast, technically and psychologically. Under 10k and we'd already be in another recession. Yawn.

Hang on to your cash.