Well, I called it yesterday "by the end of 2008" and it is here today.
I got to admit, for the first time since this whole debacle started, I am scared.
I do not believe this is the end of delevering either, the shadow banking beast is continuing its epic run. The Hedge Funds, the regular funds are all facing massive redemptions and are barfing in the markets. You know when you are really drunk and you just barf and barf and barf sitting miserably by the toilet? wishing you were dead?
It cannot go on for ever. I am sort of ready, I was joking at dinner with friends that if it gets to 8500 i would go back in... then it hit 8500. I am going to leg back in and see what happens to my leg.