Hi Everyone,

It certainly has been quite a crazy market, but I think that we are hitting bottom soon. Volume has been so high, the end of the day trading yesterday was so panicky, more than even in previous days during the past few weeks. Volatility is extremely high, which shows extreme fear. What we need is a closing on the up side for more than one day. I do think we will have a snap back, but I think we might then stay on a certain level for a while. A 20% snap back would get us back to about 10K on the Dow. Another sign that we might be close is that is the interest rate on the short term government papers actually went up yesterday, so demand for these is going down, and LIBOR went down, so banks are not asking that much interest among each other.

Anyway, these are just some thoughts, only time will tell.

Patrick