Following the panic mode on Wall Street (and in other financial markets around the world), it is anybody's guess how far down the market will go and if there are more crashes ahead.

Meanwhile, cruise stocks are down dramatically and are seesawing with the market, responding to the loss of jobs, falling home prices and diminished spending. There is a growing realization that the Western world is either in a recession or moving toward one.

Among the many question now are to what extent short-term speculators will buy again, just to sell as soon as they realize a profit, thus driving the market further down, or whether the many smaller investors will jump ship once they see their stocks recover.