I got this link from Ugly’s del.icio.us links and find the map of the global correction very enlightening. It seems that foreign markets have been hit the hardest, relative to the US markets, since the highs on July 19th. Based on the map, the worst hit regions of the world were portions of South Asia and Brazil.

I’m glad I rotated money across the board in my 401k’s that day. If you signed up for my S&P500 volatility signals (sign up here), you would’ve received my email around lunch time on the 16th where I told readers what I was planning to do.

Methinks that the rest of the world is going to get squashed if the biggest economy in the world goes down because of the subprime mess. Even China is now backtracking on Mr. Xia Bin’s comments, because they’re not stupid.

What’s in store for the future? Who really knows but I think we’ll be stabilizing around these levels for a while. If Ben cuts the rates in a few weeks then we’ll see a rally for sure.