[currencia]

Any rebound towards 12,6xx is likely a reasonable place to short as I beleive a precipitious drop is imminent and 12,720 may not be reached again.

The fundamentals of it are simple. Four more airlines filed for bankruptcy last week. Those airlines that just got out of banckruptcy are losing lots of money even at 100% occupancy. Expect flights to be cut by 50%, ticket prices to double, and surviving airlines to merge and further reduce employment by yet another 40%. Banks and airlines are about the last two remaining industries in America and the companies in these American industries are losing $1 billion per quarter, each. Meanwhile, the US government is losing more than $1 billion per day in Iraq alone. With less than 45% of US high school students ever graduating from high school, these are very troubling times that will not be rectified easily nor overnite. The Kitchin Cycle says that there is trouble between 2002 and 2030 and this cycle has not failed yet.

A drop in the DJIA to 11,000 will not be the end of the fall. Look for a trip to 10,000 soon after the market is finished from being propped up for elections. The worst of it will likely start to appear within 6 months after the next president takes office.

A bleak picture indeed. Save the silly comments about a bird and the sky falling if you are so inclined to be a blissfully ignorant eternal hopefull. I am here to trade what I see.