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Where next?

It feels like the long awaited correction is starting to unfold, the Non-Farm payroll number was certainly the last nail in the coffin. The markets succeeded in reversing some of the earlier losses of the pre-market and opening hours during the trading day and eventually closed around the middle of the day's range (SPX 1,025.21 -4.64).

In my opinion, the sell off is inevitable, the only question is going to be how much and for how long?

The massive rally that we witnessed since March was partly a reaction to the oversold market conditions and end of world forecasts and partly due to improving economic
conditions, with the central banks around the world literally giving money away to keep the spending and consumption process from breaking down and setting us back to the dark ages

I am not a bearish person by nature, even if I started my career in the markets in February 2000, right before the all time highand experienced two one-in a life time bear markets :)

I think it is time to head for the exits. I am going short the markets as well as crude.

Let me know what you think and meanwhile I will try to make my case in a more scientific manner......

over and out.....