Thursday, November 20, 2008

Apocalypse Now

Major collapse in the markets the past 2 days. Down 12% in 2 days after today's 444 point disaster to close at 7,552.

S&P 500 is at an 11 1/2 year low. It is down over 50% from its high a year ago. The bull market of 2002-2007 has been evaporated.

All of my positions have been obliterated.

Citi is on the verge of going under and has lost 50% the past 2 days to close at $4.71.

Nobody has any idea of how much lower the market will go.

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