I took almost all my investments to cash on Wed. Amazing that over a 10 day period, I lost about 66% of my gains over the year, but hey I’m happy with what remains. I felt like a complete panic monkey on Thurs when the market jumped 100 pts, but now, barring action by the Fed, I just don’t see how the markets can rise or even stabilize. Equity owners will take it on the chin as hedge funds sell into rallies to pay off insanely monied investors spooked by the fixed income market craziness.

I really hope the Fed moves on Tues and makes me look foolish. But if the Fed just changes its language, then look out below.