As a rule I try to give links to commentators who I think say things better than I do. My comments usually reflect how I see things based on many blogs and reports I look at and my personal experiences. I have been very accurate for the last few weeks which does not mean I will be accurate in the future. My trades - right now EUO is my only position - reflect what I think and do.
Right now we see Europe fall to pieces. The rest of the world is not far behind. The best cure would be to press the re-set button and cancel most of the debt - this will not happen because it will wipe out the banks and the politicians.
This link http://www.zerohedge.com/contributed/mf-global-repo-maturity-and-large-bank-obs-exposures shows the next worm hole we are uncovering and there are many more. The ONLY way the current 1% can protect themselves is to bail out the banks. It will not surprise me if we see more liquidation tomorrow and perhaps on Friday but then the US will get involved via the IMF and print money and credit to bail out the US banks via .
For now I will hold my EUO position but if we get a huge sell off I will be looking to reverse my position and go long stocks or gold and silver in the expectation that over the weekend the "IMF" will ride a white horse to the rescue. This is a market that you should avoid unless you can turn on a dime .