A quite dispiriting day for bulls; we are now testing yesterday's lows. If those break, it could be a quite ugly closing hour.
Still waiting for any sense of panic or despair... a flush out morning sell off would be healthier in the long run that our nonsense premarket magic.
I threw some June 112 SPY puts on the fire (as mentioned yesterday May's expire at the end of the week), although we have a ton of cash and are shielded from much of this damage.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows