BETTE DAVIS WARNING!

Get set for some biblical wailing and gnashing of teeth this morning as markets world wide are selling off hard. One bodes well to listen to Margo Channing.





And make no mistake with stock futures down nearly 15 points pre market it isn't going to be pretty for MLPS either. If i could map out the trading pattern today it would be a very hard down open with followthrough where we make a climax low around 11am-12noon and then turn em around after lunch. MLPS can take em down to that 262 March low which quite frankly i never thought we would see. One saving grace for me in this sell off is that i am long the Double Short Oil and Gas which was up nearly 2 dollars yesterday and it should at least open higher this morning and is helping to cushion the losses on this end. Since we are at the point that everything is going down we just have to hang on and wait for the turn.

This is an early post so i will update things this morning as headlines break.