With Friday's breakdown in the S&P, we worried that today would bring another surge of general liquidations where everything with a bid...and especially with a trading gain...gets liquidated in order to avoid margin calls in other sectors. And here we are.
And it's far from over. Oh, of course there will be sharp, oversold rallies within the general equity downtrend. But Former Goon Dudley warned everyone four weeks ago that The Fed was intent upon "inflicting pain upon equity investors". They have and they're not done yet.
This has implications for all other "...
