C Words

"This is it! I'm telling you this is it!"
--John Tuld (Margin Call)

Domestic markets were splattered today. The SPX was down about 4%.

The Dow closed over 1000 pts lower and was down 1500 intraday. That's the first time the Dow has lost 1000+ in a session.

Carnage continued after hours, with major indexes quickly approaching their 200 day moving averages--a level that seemed so far away just a short time ago. Nikkei futes have been indicated about 8% lower.

This bring to mind two c-words. Crash and contagion. They are not unrelated.

no positions