Bloody Sunday

It was a Sunday to remember.

• Lehman Bros apply for Chapter 11 bakruptcy.
  
• BoA buying Merill Lynch
• Everyone wanting the Fed to guarantee toxic loans. Well, the Fed already had 5 trillion of added debt. That was politically acceptable. To guarantee a Wall Street takeover this close to the election wont be.

Asian markets were sharply lower, I am guessing the European and US will start sharply lower too. Gold was sharply higher as the markets flew to safety. I am guessing bond prices will be higher too.

One more thing, I think panic selling like the one we are about to see is probably a good thing for a true bottom. That being said, I do have a small short position in DECK. I am hoping it breaks through its triangle pattern tomorrow :-) , ON THE DOWNSIDE.

Will Bloody Sunday be followed by Black Monday?

Let the games begin.....