Horrorshow

What a scary trading day today has been. I have been up following the markets since I saw the asian markets taking yday. Is the carnage over? I swear I have no idea! There are strong support areas in the dow close but still almost 500 points below current levels. See the oil drop? But it's still being supported by the dollar drop and we are entering the hurricane season. When those are gone, then what?

Till now, it's mostly been a financials led story. The consumer recession has not even started yet! That will be the real tale, which should happen sometime next year. I keep trying to tell myself to take a longer term perspective but it's very difficult to do with trader fingers. Hope this info helps some of you stable minds out there.