The permabulls have been taken out. This market is grinding down the dip buying bulls. Ground beef. In the past, it was a swift execution. Scary, but minimal pain. We haven't seen anything like this. This is Chinese Water Torture. More pain to come until the Fed plants a seed in the media that it is doing QE3. And it better be a big one. I'm sure Banana Ben will beat expectations by a few billion, and hit the "whisper number", not to disappoint Wall Street.
G7 today, ECB tomorrow, Fed on Thursday. We probably bottom on Friday.
(member)TLT is down It seems we will get some reallocation into equities
ReplyDelete