This morning's healine prior to the opening was : Dow to open up because the Feds will increase investments in Citigroup and probably BAC.

Opened up 70 points and it's been downhill ever since. Right now down over 2% at 7195.

Looks like the market doesn't agree with further Bailouts or investments or call it what you want.

Today can gey much uglier. There is still 3 hours to go. Wouldn't be surprised to see the Dow break the 7,000 barrier or wind up very close to it.

Till then expect the US$ to remain strong (relativley speaking) . The fact that GOLD and SILVER are so bullish is very indicative of the next stage.

Once the Dow settles at or near a new low (my guess app. 6,000 to 6,200) then watch the US$ tumble and money start enterring the JPM market.

Still this week is very important given options expiry. So far, so good.

Later