My Gut Never Fails Me

Asia and world markets are seeing heavy selling.The Carlyle Group hedge fund is on the verge of collapse,the U.S. dollar is below 100 yen (bullish for oil and commodities) this morning and futures are down significantly. Nazz futures down 23, S&P down 18 and Dow futures down about 160. I think other hedge funds are going to have big problems as this onion gets peeled. If we can turn that would be bullish, if not look for new lows in coming days. I’ll check in later. I will be watching the financials with interest today, especially the ongoing drama at Bear Stearns. Also SKF as a potential hedge if things get worse.

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