Quote from joeyata1:
200 da ma around 1448. this is setting up like1987. three 200 pt down days last week and 150 today. once we cut threw 1448 we head to 1400 fast as panic sets in. there's $200 billion of mortgages at risk right now with more by the day. you ask why this matters. hedge funds are selling stocks to meet mortgage fund redemptions. It's truely a perfect storm that was set up by eyars of greed and overleverage. now that leverage is being reversed and with it comes pain.