The Worst Storm In 20 Years?

The afternoons sure have been interesting lately. After we chopped around following the jobs report, it was bombs away as traders decided to get the hell out of Dodge.

Prompting the end-of-week flight out of equities was Bear Stearn's CFO who boldly admitted that it is weathering the "worst storm in financial markets in more than 20 years." Now that's saying something.

The market's inability to hold recent support areas technically put us in a worse position than we were at this same time last week. That's not good. If the bull market was still in fine shape we should have seen at least a decent oversold rally based on the extreme readings across the board. But, we simply didn't. Perhaps Uncle Ben and his crackpot team will come to the rescue next week or at least calm down credit fears. To be sure, those who haven't sold yet are certainly counting on it. If you thought this week was interesting, just wait until next week. :)