What is your prediction: are the markets in the middle of a correction, or will the markets be heading substantially lower?

My opinion is that this massive sell off we are seeing is more than a correction, I believe the markets are heading significantly lower. I see NASDAQ bouncing between 2100 to 2200 for 2-4 weeks. I do not think NASDAQ will hit 2000, but breaching 2100, in my opinion, seems possible and likely.

NASDAQ 2 Year Chart:

Dow 2 year Chart:

S&P 500 2 year Chart:

What is your prediction regarding the market action we are seeing around the world right now?

I have also created a new forum thread at the Enhanced Trader Forums: Prediction: Market Correction or Big Market Decline? Share your predictions and thoughts about the action we are seeing in the stock markets.

I was reading a news aggregation website, reddit, and came across a blog article regarding Google buying Sun Microsystems.

Logically, I could see this rumor coming to fruition. I think part of me would like to see Sun, a company I respect, purchased by Google, another company I highly respect.

Google and Sun are (supposedly?) working together to create Google Office - an online suite of software to challenge Microsoft Office. Sun is known for it’s excellent server hardware and the Java environment. Google is constantly and perhaps exponentially growing in its need for data storage and processing power. Google needs more computing resources. Fast. Google may also need more human resources, another advantage it would gain from buying Sun. Sun Microsystems engineers and developers consistently produce high quality software and systems.

My question is: What could Google possibly gain from purchasing Sun Microsystems? True, Sun has the hardware and people that Google could use. But does Google really need Sun Microsystems?

The only possibility I can think of is based on another rumor: the GoogleOS.

Has anyone else heard this rumor of Google planning to buy Sun?

Read the original article: It looks like Google’s Buying Sun After All.

IMPORTANT UPDATE:

A stock trader friend linked me to an article stating the “Google Buying Sun Microsystems” rumor is completely false and the rumor is being used to manipulate Sun Microsystem’s (NASDAQ: SUNW) stock price. This article contains background information regarding the rumor’s author and the rumor history. Read the article: Digg is used for Sun stock manipulation.

It appears this rumor has been verified as being a completely false rumor.