The currency has collapsed, banks have gone bust and the market closed down 77% to a level of 678.4, its lowest levels since April 2006.
The reason I put this chart up, is to remind readers, that no matter what THEY tell you, despite reassurances about how everything is undercontrol, you must be aware of some simple facts.
Excessive Speculation coupled with leverage ALWAYS ends in a collapse! yes always!
Deleveraging with counterparties spread across the world is complicated and will take time to run its course.
So, do not try to call a bottom in stock markets at the moment, and consider your risk profile and investment time horizon before jumping into the ring. Don't Invest in anything that you don't understand!
For those that are ready to catch falling knives, intermediate rallies and dead cat bounces will provide exit opportunities, and expect things to get volatile (read: crazy) as the earnings season progresses.