T minus 5 minutes and counting... But we already have some indications from the spot FX market.

And that was the last shot in the GZ. And they gunned it right up. For now.

And there's the new LOD and low for the move.

And there's the acceleration, as expected, just not until they tried to stop it, and shake all the weak hands out first.

Well, I suspect everyone is locked out somehow, as I don't think we've ever had a day with zero posts. I haven't gotten any e-mails, though, so that seems unlikely. Bizarre, to see unparalleled market action, and zero posts... Just, well..., bizarre.

my excuse.... physical therapy.....all day.....

Thanks for the reply, roofer, at least I know everyone isn't locked out.

Here's a frustrating thought that crept up last time we melted down, and I think this time will pass. The market gets pommeled, and they need scapegoats. HFT will be a prime scapegoat. They are talking on TV right now about the transaction tax, and how that would stop the HFT's. No HFT's, no market drop (Hah!).

I can't see any way they don't enact one if we melt down, which I think we will. But, as previously discussed, they will exempt all the big banks from it, so you and me, we go out of business, and the scum keep doing what they do, and the market will go down anyway, probably faster.

Unfortunately, I think that although the volatility leads to perhaps great trading opportunities, in the longer-run I think it puts most of us out of business. Quote vendors go under, brokerages, all our infrastructure, all wiped out. Laws, taxes, and regulations that kill us.

Home-based traders, I fear, are a product of 'The Great Expansion', and won't be feasible if we do indeed deleverage with 'The Great Unwind'. Let's hope I'm wrong, I don't want to go out and get a minimum wage job (the only kind I think will be available soon, with 10,000 applicants per opening...).

Yes, I'm extremely negative. Not pessimistic, in my opinion, just realistic. For those that are positive and optimistic all the time, and think this will all work out, talk to me a little bit down the road, and I'll ask you how that's working for you...

My only suggestions are to make hay while the sun shines right now, and get prepared.

Futures selling off nicely. Watch the GZ here. Maybe 65 off yesterday's high isn't enough for it.

BTW, gold just took out that 1801 all-time high, again.

And then right back down into the close! Too funny.