Acrapalypse Now

I hate waking up and seeing this ... the 30-yr bond is below 3.9%, the European markets are getting torched, and the U.S. futures are pointing to something like 6% declines.

Now, this could all change throughout the day (or in an hour), and we could end up positive for the day ... but I don't believe this.

This is the point where it starts getting demoralizing. I think (hope?) we might be in the so-called capitulation phase -- that point where clients are making GMO ("get me out") and GMTFO calls -- but you never really know when you're in the middle of it.

No way am I making the "that's it ... the U.S. market is finished, sell all of your stocks and buy gold" call. That's nonsense. We'll get through this and we'll be back to the stock market as usual somewhere down the line. I have no idea if it'll be a five-year period to recovery or a 25-year period (we've seen both in American financial history), though, but I have complete certainty that nothing fundamental about the markets, or its investors, has permanently changed.

I realize there isn't really any insight here, but part of the point for me in this blog is to both log and record the pieces I write for others ... and to occasionally opine on topics that I can't (or don't want to) write up for other sites.

To that end, it's just demoralizing to wake up to the feeeling that you're in for a really rough end to the week. Heck, I'm beating the market (but still down a lot), but today is going to be another blow to the gut.

All I can say is to just stay alert to opportunities and take care of yourself -- get your sleep, stay up with the exercise and so on. Driving yourself crazy because the market is knuckling under to the collective panic of its participants does no good. Believe me, I've tried.

Good luck to us all!

s