We see mass exit from all markets today. This is all about confidence. Confidence has been shaken badly and will take more then what is currently on the horizon to be restored.

NOT may be able to pull a rabbit out of the hat with Windfall, to at least stop the bleeding. We can only hope not to loose too much at the moment. Support levels do not mean much in this environment. I hope we will see a small bounce this afternoon. 

Hedge Funds will be hurt by this meltdown and more Banks will have to come clean with much more bad news. The Fed will have to act fast and it might be getting too late.

At the moment profits will be taken wherever possible, especially in Europe and Canada from the US, since these currencies have appreciated nicely.

It appears NOT will close above 3.00 

Back to lurking.