Please Make It All Right

A week that the “Bulltarts” will definitely want to forget.  Why?  Let us count the ways.

1.     DJIA lost 760 points. Worse week since October 2008.

2.     Worse week for gold since 1987!  Silver is right behind gold.

3.     Financial stocks have no bidders.

4.     Europe has no bidders.

5.     Rumor has it that German banks have $1 trillion in hidden losses.  (Sounds like our financial system, since we did away with “mark-to-market.”)

I continue to marvel at investors who are now complaining about the market’s watershed; however, these same investors were not complaining in any way whatsoever when the Fed totally manipulated the market’s rise from March 2009 to May 2011.  It is almost like investors have an entitlement mentality that stocks must always go up, up, and up.  (Get over it.  The worse is still to come.)  We are starting to see the negative ramifications of thirty years of debt expansion growth that exceeded income growth, both from consumers and governments at all levels.  By the way, it is just not the United States, just look at what is happening in Europe.

Please excuse the above mini-diatribe. 

Currently, I do see downside risk in the S&P 500 to around 1030.  At which time, the market should have some form of a relief rally before resuming its downtrend.

Since all my Bulltarts out there need a lot of “Lovin” after this week’s massacre, I thought I would play a great song by Crazy Elephant entitled, “Gimme, Gimme Good Lovin, Make It All Right.”