Surprise!

This is how the day started: http://www.bloomberg.com/apps/news?pid=20601087&sid=ap28Nu0.7e1M&pos=2

Surprise! Suddenly the world is looking at the EU, and if it can manage the debt (printing money as we do), and hesitating, with futures down over 100 points by 9 a.m.
This allowed us great opportunity to enter to our call

"Technology has spurred changes in trading mechanism that likely contributed to Thursday's Market Meltdown," screams Barons this past weekend. Answers and fixes, they want.

And then sometime we'll get back to the faulty financials with companies and governments that started it all. And we believed in accountants and bankers.....hmmm?

By 3.15 p.m. the market had moved to negative territory, but still held near our 10,746 retracement.

It is important we all know this. There is no trader or trading system in the world right now that can predict what will happen. We are just starting to decipher "the 20 minutes" and opinions are just starting to flow. We repeat: Downturn like this is possible, and we could repeat our lowest lows; conversely we could have higher lower and a mild move up, or catastrophe.

And, no one knows.