^^And the DOW finishes tomorrow in the high 7000 range....
Unlikely in one day, but if so it'd probably be the final capitulation and the buying opportunity of the century.
Canadian equities look lots more vulnerable now than US stocks. Look at the fat yields on some world-class US companies right now, they're getting very attractive... 12% yield to own GE and Citi? MS and IBM, etc. Canadian equities have a LOT further to fall because there's no yield. Plus the commodity bust isn't over as oil going to $80, then $60, maybe $50, natural gas could drop 50%, and many energy projects in western Canada will be cancelled due to low commodity prices and tight credit.