Wild Market

I think that was probably a huge fund that liquidated their positions and program trading took it down as the bids disappeared. I would have to say that this is pretty much a panic bottom, although the issues in Europe still linger. The effect of today will last for a few weeks, I think the risk premium just went up substantially today, and that could affect trading for tomorrow. I would expect the market to get back to more normal conditions next Monday. There should still be some jitters tomorrow if we stay weak, which is a definite possibility.

We have gone from a ordinary selloff to a confidence shaker.