Hedge fund client letter:
"There are [bonus] times when an investor has no choice but to behave as though he believes in things that don't necessarily exist. For us, that means being willing to be long risk assets in the full knowledge of two things: that those assets may have no qualitative support; and second, that this is all going to end painfully"
New weekly lows for Transports, Energy, Shipping and Resources. Revenueless Biotech got whacked...
Skynet pulled out all stops to keep this clusterfuck from imploding. Using a handful of mega-caps to hold up the entire market...
NYSE Highs - Lows:
Deja Vu 2008:
All of the up volume is in the largest cap stocks...
Up volume / total volume
One more leg to the stool
Dollar / Yen (red) aka. "Overnight risk"