The stock market has STOPPED trading and futures are limit down. The circuit breakers have kicked in and they will continue to reconfigure as the market sells down. If the market were to drop 10% today it would stop trading. World markets are imploding with no exceptions.
The global recession is in full swing and the doubters are now paying the price, a very big one. I will do my best to blog and twitter today so I can telegraph what I am seeing and doing. Many feel the first hour will be the worst part, many of the roaches will come out the woodwork and call it a bottom. It may be a trade but nothing more. I will keep the pundits on mute as usual, we are going to 6000, not today, but we’ll get there.
The mutual fund and 401k statements hit mailboxes next week. What do you think will happen?
DON’T BUY THE PUNDITS !!!!!! Good luck today.
P.S. Guy on CNBC says stay calm, thanks for that.