Hey Everyone,

Rough Market this week. Hope everyone had their stop-losses in place. Unconfirmed, but KRY second appeal news should be soon. KRY sp doing fine in this Market so far.

Can you say downside? What a Rough and Tumble Market, and if Friday didn't get your attention, you've been busy doing other things. Tuesday dump was because the signed US Budget does pretty much nothing to correct the ongoing, "kick-the-can-down-the-road," problem of continued spending and Debt accumulation. There are some baby steps in the US Budget, but following through may be an issue.

The Thursday dump was about the EU and their attempts to fix what may very well be unfixable. CJR - S&P's downgrade on Friday was coming as they had issued warnings, actually a while back, which Fitch and Moody's have only done recently while affirming the AAA rating. Anyway, Thursday the ECB's head, Trichet, announced establishing a non-standard six-month credit facility for EU members with credit problems. Wow! This is admitting the (obvious, to some) problems with EU member debt, as I have posted before. Since the ECB, by charter, cannot loan money to the EU members, Bonds are printed so the ECB can buy them to keep this mess all propped up. Talk about junk bonds. These ECB/EU guys are in trouble and all the posting here, a while back, about the Dollar being supplanted by the Amero... Well the Dollar may be around longer than the Euro, because the Euro ain't lookin' so good at this point.

Friday Market trading was hilarious. Opened up big on a Jobs Report, wherejob seekers gave up looking for jobs so numbers look better. The Jobs report is notorious for being adjusted down later when no one is paying attention. Plus, Consumer Borrowing data indicates more consumers taking credit. More Debt is good? Then reality kicks in and Market dumps big. But, wait there's more. ECB announces buying of Italian bonds. Market recovers big to positive territory. Wait, on more Debt? No wonder it faded to the close. Look out Monday, especially with this S&P downgrade.

Toss in the Middle East's ongoing tensions, China's near out-of-control inflation of 2-4% (that's Per Month), Japan's problems, continued shenanigans of the EU and ECB and,... well, it just does not look good just about everywhere you turn. Reason why I (Chicken Little) had previously posted, on numerous occasions, about the Market turning. Is this the big one? Technicals show we are already well into correction territory. It will take a while to play out, fortunately, if it does happen to be the big one. So, time will tell.

Posted the head and shoulders indication a few days ago, Wednesday, here:

http://agoracom.com/ir/DoubleEagleHoldings/forums/discussion/topics/494169-degh-flat-market-may-turn/messages/1579263#message

A little while before CNBC broke it here:

http://www.cnbc.com/id/44005971

(Apparently the CNBC article was updated to show a Thursday date, but it was originally posted Wednesday, a few hours after my agora post)

GLTA