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This market is so gimmicked that I'm afraid to buy in anymore, long or short. Too many big boys playing too many games with the markets.

I'm with you on that. The market is kind of like a casino, which may be why so many people just can't seem to stop playing it. It is just so clear to me that it is being manipulated, yet any hint of a rally and people can't help themselves and pour more money in.

One of the big "x factors" in the current market is the sheer number of people who have their IRA's and the 401k's on autopilot, dutifully investing more money into the market month after month. If that money goes away then the consequences are obvious.

The single biggest thing I've been looking for is fear on the streets. Real fear. Tearing at your hair and screaming "it's the end" fear. The kind of fear that results in near-total capitulation. I've been waiting for it for quite a while, and we may yet come out of this without having to go through all that. But I doubt it.

Another sign of the financial apocalypse: Cisco traded below $10 a share today. They closed at something like $10.05 and I understand they are down in the aftermarket. If Cisco ends up below $10, and stays there for any length of time, they are going to end up being removed from a lot of portfolios. This is one of the signs I've been waiting for, Cisco at less than $10 a share.

It's getting really interesting out there.