$2.00 a share. WOW that was fast.

As I said a couple of days ago, the volatility in the next week or so has the potential to be unprecedented. The speed in which events are unfolding at this time is unparalleled to anything I have ever seen in 25 years. Bear started this off in June of 2007 and maybe we might finally get the panic selling we need to mark a tradeable bottom on the Bear news of 2008 coming to an end. Sad story, but the markets don't care who you are or what company you are. And if you are in business one day and out of business the next, the market will keep on trading without missing a beat whether you have just gone out of business or not. Right now, preservation of capital, as I have been saying, is very important. You have to be extremely disciplined in this market if you are trading in and out. Longer term, it might be time to start to nibble at these levels. We will eventually come out of all of this, but it's going to take time.

We haven't seen a big currency intervention in years. It's almost time. Last Thursday and Friday, Israel was in the open market buying dollars against their currency. The risk with the central banks intervention in the currency markets is if it doesn't work. If they intervene, it better work and sentiment had better turn around, or it's going to be a temporary blood bath as everybody closes out positions regardless of price. Currency intervention, in my opinion, will have gold and oil and other commodities crashing down if it works. Opec last week said world oil demand is not going higher for the next year, so a lot of this bull market in commodities is dollar driven.

However, the extreme quickness in how events are unfolding could also work the other way. The down move could just as easily stop and turn around and we could melt up. Who knows, just watch and stay nimble and trade within your means. As I write this at 9:30 P.M. Central on Sunday night, S&P futures are trading at 1255. Who knows, they could be up on the day tomorrow. This entire down move of the last 2000 Dow points has been very orderly and not the type of action that marks bottoms. Maybe today will be different. We will have to wait and see, but so much damage has been done that it is going to be a while before we get a recovery that is going to hold up. Individual equities can still perform well. Just do your homework and there are always stocks that will perform well in all types of different markets. We will try to find those at this time. Good luck to all and trade within your means.

Scott Snyder

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