Susan - My girl friend was in Dubai a couple of months ago (she works for an air ambulance service which transports people around the world). She mentioned the skyline was filled with cranes (construction, not avian) that had just stopped. It was obvious that they had run out of money. So now it's official.

Don't know what the effect will be on the overall market. Because of the thin markets, they may try to take the dollar up, and gold down - probably their last real chance. I don't think it will last more than a few days, so I'm not changing my strategy.

That said, I sold my EVG today (looked like a short term peak yesterday). If it pulls back, I'll buy it back and hopefully do a better job of trading it. KMK may be on the verge of cracking. I still have a half position, so I'm watching it closely.

PS: I really don't like eating flies, either.....