Judging by the Fed Asset sheet, preparations are being made for Armageddon. I can only assume its derivative fallout. All the options they wrote are now coming due and nobody knows whats gonna happen. Multi-trillion dollar blow up. Thats my best guess.
Nice turnout from "american dream state" into the 7th circle of hell! I still bet, that S&P will touch 500 - 550 till the end of 2008. At least i dint see at least one point to go long neither on NYSE< neither on my RTSi russian market tho.
Weakness in the futures after the coordinated cut made me nervous. Got out of the two positions I had (just now...better really fucking late than...later), saving what little cash I have left. I hope that's the right move, or at least the smart move.
I agree, there is too much volitility for this to be a bottom. Around 7500 Dow is coming soon. Reality hasn't hit everyone yet, clowns on "the street" are saying hold for the long term. Yeah right clown!
The day I saw my old high school drinking buddies who were in the mortgage business driving new AMG 55's I knew we were in trouble. I didn't know it would be the end of civilization!!