More Like 5:0 To The Market...

I've been off for a few days and lo and behold, the "fakeout" I talked about in my last posting has developed into a full-blown rout!! This is MORE serious than just a "healthy pullback" -- that's right, this may well be the start of a much deeper correction, which would eventually take us down to below the 1,200 level in the SPX (which would make it a 10% correction -- as I surmised earlier -- from the highs just above 1,330).

We have seen capitulation and liquidation of all profitable (consensus!) positions out there -- from $ and bond shorts, to commodity and equity longs!! It's fast and furious as well, so don't try to catch a falling knife, please - you've got macros and long/short funds in real distress here, pushing this thing down...