Today's trading session in Asian equity markets saw huge volatility with Asian stocks opening 4-8% higher and then after few hours shedding all the gains, some of them even closed slightly lower. Volatility is the name of the game with markets completely ignoring U.S. Fed's yesterday's rate cut as Bank Of America anouncing almost 6 Billion U.S. dollars of losses due to subprime mess writeoff. Markets expect more such depressed anoumcements from more financial giants and hence behaving very volatile with weakish bias. Also, markets expect another rate cut by U.S. Fed this month in order to give a major boost to sulking U.S. economy. if history is anything to go by then markets may try re-test the lows it made this week. However, not everything is not lost for equity players as valuations have become resonable and any sharp correction will be bought into immediately, thereby limiting the damage already done. Prudent thing for stock players is to maintain calm ignore rumours, strictly avoiding any kind of panic and thus a distress sale.