Looks like everything is getting back to normal and the credit crisis is behind us, Boy I’m glad because it looked a little scary there….NOT. This thing ain’t over, there is a whole bunch of bad paper out there that has not been realized. This is a market where you see shorts gather and just get clobbered, did you see HB’s and lenders today….Man there are ouches going there, same thing happened last year about this time with the HBs, this year the financials are included in the mix. I anticipate some wild trading days ahead in the next couple of months. The next downside will be with the midmonth hedge fund marks coming out on Aug. 15. I have a feeling it will be ugly. You have some big players out there looking at big losses and they are going to throw everything and the kitchen sink to minimize those losses.
