There is a panic going on that is being mostly ignored in the US. I say mostly because if you work at Morgan Stanley $MS you are sending out your resume (from an old fax machine) and are under qualified to work the mail room at Facebook.

I don’t see how the US markets won’t completely panic.

Italy, Greece and Spain are in meltdown mode ($EWI $GREK and $EWP). Nice places. Thank goodness I have been there. These countries care enough to start hating on each other, but there is no real leadership and there is so much financial decay.

It’s not like the price action has not give you enough warnings.

In a panic I could see $AAPL in the low 400’s and I would be buying, but big woop as it was in the 80’s in 2008.

You need to understand the price action of today and appreciate the context of historical prices.

I have just enough experience and paranoia to have that ‘woosh’ to the downside feeling in whatever is left with a good bid.

It’s exciting if you like car wrecks.