The rats are leaving in waves off the High yield bonds ship, chasing yield ...another ship to board, which one? The harbor is empty. Cash is king, other currencies
devaluing big time, panic mode, and since I believe the Eurozone chiefs won't agree on how to genuinely QE
to save their buts, well... The short term safe haven is out of stocks
and into cash? But not for long. What really scares me about this issue is... aside from more headlines that are not good that are just waiting in the wings to have their 15 minutes of fame... if you stay close up with your charts, the MACD
looks like it has bottomed, oversold, and ready for a bounce. BUT, and its a BIG BUT, if you pan out to 7 years, look again, the indicators have room to run much lower. So, regretably, the big picture may be in play here, and we could be going much, much lower. We are right at key levels of support here, on many levels, and if we break the and close under... a couple years from now when you wikipedia search the word "panic selling", may refer to October of 2014. lets all hope I am very wrong about this chart I posted over a month ago.