Dow Jones Industrial Average Performance
- 5 days: -18.16%
- 1 month: -23.61%
- 6 months: -31.52%
- Year-to-date: -35.32%
Straight up carnage.
And, as Agoracom notes, Gold absolutely spiked in the last hour today. People who are scared flock to gold during market extremes. Fear is here for sure.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBIJd3J6BIBEcKzuRaz6P6A5bYhHnl5E9Ks6o_1kJrIADrCYAUWTs4G3hWCmMGxMhJQF5oBCbBBDfYOvuuwu0MCIc1aEKkgXq03-e42DccVb9HcuTun9eDxXQ0Qgly8aYf_Ayf4ETjn_M/s400/gold.gif)
And how about the volatility index (VIX)? Ridiculously high at 64. The highest we've seen in I don't even know how long. But, as we've seen, the VIX could still certainly go higher and the markets lower. But, I'm going to say that this looks like a place to start positions on the long side. Make sure you're always hedged and you're not trading large positions; keep it small. This is starting to get ridiculous. I fully anticipate the deleveraging and hedge fund redemptions/liquidations to continue. But, as we all know, there's no way to pick the exact bottom. I will happily pick up some of their belongings at fire-sale prices and will continue to reserve ample dry powder should more opportunities arise.