Today the markets tanked again, losing 2.5% in the day session. The gains from the FED effect are gone. While I believe that the real effect of the FED facilities should start on March 27, meanwhile, I think we are in for the another drop. The FED have one more real bullet or 2 little pills and after that it is printing presses time.
The signs I am looking for before I call "fat lady singing" are a slow-down in the rate of hedgies going pop-pop, another bankruptcy like Bear (or a close-call), a dollar stabilization, the commodities burst, one more scary drop in the dow and a final, FED action.
Buckle your seat belt Dorothy, because Kansas is going bye bye. Welcome to the 21st century.