Welcome to Your 2008 Bear Market

So much for the bounce. That lasted all of a day and a half before the bulls were utterly annihilated.

It's safe to assume that every index has broken convincingly through key support. Welcome to your 2008 bear market. For anyone not paying attention, we are already in a recession. Not technically, but if you were to use real inflation numbers instead of the government's bullshit numbers we have been in a recession for awhile now.

Ofcourse, having made so much so fast on the short side I'm wracked with anxiety. The bounce I allowed for off of the lows can now be expected to take place from a lower level. My expectation is that at some point probably soon we will test the key support levels from below. A failure at that point (should it play out that way) could present the shorting opportunity of a lifetime. No exaggeration.

My advice to you (again). Take cover.