Uh Oh

But remember last time I posted the futures on here? The market opened down hideously and then proceeded to bounce for the next few days.

I shouldn't really say "uh oh" because I'm currently in bear funds, and by the look of things we may be setting up for another meaningful down leg in the overall market (so maybe I will get out of this whipsaw hell that I've been in over the past few months)

My overall take is today some major support levels will be breached, which overall means that this market has lost confidence in our government's ability to bail them out to their satisfaction.

The only game in town currently appears to be gold:


But I think gold is very vulnerable here, as the other deflation indicators are flashing impressively:





Plus YIELDS ARE RISING. This is DISASTER for the Fed.



OK? so my thoughts? Cash good; bear funds good.

Take Care