Rossiter has watched the Asian collapse since it began in Thailand in July and raced across the region like rolling thunder. No one thought Thailand's market could fall by more than half. Then investors start looking around at other countries they thought they understood. After Monday's plunge, Wall Street has surged back in the busiest day in its history. Then it's Hong Kong's turn.
Tomorrow is another matter.
For months, Mays has been telling his brokers Hong Kong was due for a correction. Rossiter is not so sure. A quick check on interest rates shows they are still high out of fear that speculators will again try to knock Hong Kong's currency off its peg to the U.S. dollar. Then he watches for trades from Europe, where markets will open just after Hong Kong closes. Two orders arrive, and both are on the sell side.