what the ?

Who Is Jerome Kerviel?

I think I see a trend:
Jerome went long on futures; Amaranth was bullish on natural gas;
Long Term Capital was bullish on Russian bonds; Yasuo (Sumitomo) was bullish on copper: A L L banks were bullish on ABCP, CDO, SIV,etc BUT only Goldman went short and profitted. Even they were not that smart, GS just had better risk controls.

The trend is : too lose big money go long in a bear market.
Seem like we're in the mother of all bear markets.

David S. ---- I think you may see it correctly; this week's drop is only a false bottom caused by the too quick unwinding of the french position.
Unfortunately it could be just a precusor to bigger problems.