Reply #21: Another ugly day

[Mike03]

This is probably the result of China saying it is fed up with holding U.S. denominated equities and treasuries, and GM's admission of a 38 billion dollar loss, as well as $100 a barrel oil.

I don't think a 1000 point drop day is out of the question. So much leverage and devaluation needs to be squeezed out of the system. I just really feel bad for common investors who are in mutual funds and ETFs that are going to get hurt. It's not good news for anyone, but in a sad way this is totally inevitable--if that makes sense.