MARKET

Markets: WTF???? Nobody really knows right now. Some things within the Exchanges went wrong. A program at Dow Jones wasn't programmed correctly so people sold in a panic with the wrong information, but this only accounted for fifty or so points. The damage happened at 45 minutes before the close. The jerkoff Bush appointee at the SEC (William Donaldson) did not reinstate the rule that you could only sell on an uptick; without that rule you can have an uncontrolled fall; all stocks are now traded like the commodities markets. He hasn't done a thing to investigate and control all the hedge funds that are always shorting the market and once a decline like this starts they pile in with billions.

You will hear stories that this was caused by fear of a Democrat win in '08....total bullshit, nobody knows that for sure; and nobody can know. It's also a cinch that we were due for a correction and with the Dow at 14000 a 500 point decline is only 3.5%; corrections are 8 to 10 percent. So look for another decline today. The fundamentals have nothing to do with a 3.5% fall in the market. I think that the smart guys figuring we were "due" had as much as anything to do with this along with program trading which traded on faulty data. There ain't no villain. Just systemic risk. .

BTW: The stupid women at CNBC are slobbering their ignorance all over the tube. IT WAS CHINA!!!!! Bullshit. The global economy is very strong. China has only acted to deflate their market bubble. Only to the stupid TV slugs. Don't pay much attention to this.

Buying op? Don't violate your rules.

Add at 4:29 PM PST: Cramer got on CNBC and told the truth (same as above except that the computer error was somebody entered billion instead of million on a trade) and as soon as he got off, those stupid women went back to hype. He is also a buyer of the brokerage stocks (investment bankers).