COLLAPSE!






And it won't be pretty either like this old bridge collapse newsreel. This is what's going to be like today with the markets. The dow ils likely to open with a 10k handle and the years lows are likely to be taken out today as we head for 10,250. Who knows. we might be there by days end...or sooner.

And there is no way we seperate ourselves from this. We're going down. Last weeks 243 low should get tested pretty quickly if not taken out at the open. This is one of those events where trying to figure things out is pretty much a useless ordeal.




The only thing that could at least limit the damage this morning is a fed rate cut. But i wonder if even that prospect would be the equivilant of trying to stop a bleeding artery with a paper towel.

Stock futures are falling off a cliff. And on the energy side of the equation we're seeing huge drops in the energy complex this morning as well. Crude down nearly 5 bucks. Gasoline down nearly 20 cents...Hurricane Ike didn't disrupt the system as feared.

MLPS are already showing stock for sale below Friday's close. We'll find out soon enough what the impact will be to the Lehman held mlps which i posted about yesterday. Those of you following all this in depth should check out Memmorandum.com which will limk you to latest news developemets and other blogs where all this is being discussed.

Try to remain calm as the building burns. Think clearly about making decisions in all this turmoil. Its easy to make a mistake on a day like this.