My introduction to this market crash came from Mr. Fed's YouTube channel CrashOf2008.  I saw Mr. Fed's video of six months ago forecasting this crash and explaining forces behind it.  His emphasis on hyperdeflation and the End Game was very interesting to me.  Mr. Fed hasn't made an update for 5 months. 

http://www.youtube.com/user/Crashof2008

http://www.youtube.com/profile_videos?user=Crashof2008

Mr. Fed recommended the Financial Times (of London).  I subscribed because I knew the FT to be so far superior to all brainwashing gobbly gook U.S. financial publications (no insult intended to WSJ and IBD).  The FT website has been very useful to read in the morning from my laptop in bed in the morning.  http://www.ft.com/home/us

Karl Denninger's YouTube Channel "kdenninger" has been extreemly useful and up to date.  Karl has been covering this impending crash, and giving daily video updates lately.  Karl Denninger uses more colorful language and drama than Mr. Fed.  He is a little more emotional and doesn't spare the gloom and doom.  He seemed very activist encouraging viewers to contact Senators who don't care about financially destroying a nation.  Snowman's last Blog repeats some of Karl Denninger's statements.  So I know Snowman is a viewer.

http://www.youtube.com/user/kdenninger?ob=1

A million thanks the great people of the TradeKing community like Snowman, BigDog, and RetireOnTime and everyone else! 

My 401K is up $9,676.00 since last Friday.  Tomorrow my position is increased to 100% of an ultra-short mutual fund.  I don't know if JPMorgan will survive long enough for me to spend any of it!

Oh, my.  I just saw Karl Denninger's last video.  He says it is probably his last video he will send out.  Karl thinks the treasury ran out of money on the AIG bailout and Paulson ordered the printing of money.  He thinks this practice will lead to hyperinflation and destroy the nation.

Karl Denninger is asking us to contact our Congressmen, Senators, and President to stop this.

http://www.youtube.com/watch?v=kqtAzRNhTTY

Running, there is only one "US based" website "In which I trust" - everything else I don't even bother to read http://www.minyanville.com/  ( ctrl+V popup drives me nuts)

DavidDT

Minyanvill.com is great!  I love Hoofy and Boo!  Their cartoons are great.  Glad you mentioned them.

Isn't Fox owned by an Australian?  ;)

I feel like I have chased myself to butter and my 401K is as real as my UpDown account!  Even if I get out of my ultra-short with a profit JP Morgan will never let me have the money before they crater.  I feel like I don't know the value of anything: dollars, houses, shares, shorts.  I need to spend a night on my sailboat and have some beers.

It seems to me everything is going to be unstable.  We have a sitution wherer there is massive insolvency.  The government is giving liquidity to insolvent entities.  At the same time, it is threatening to modify the system at every evening/weekend.  Debt is to be redefined.  Money is printed.  Short selling may be eliminated.  As far as I can tell the per-capita bailout is more than I ever made or ever will.  As far as I can tell bailout costs have been more than the bad debts.  I am very confused.

Minyanville keeps mentioning debt destruction, but I haven't seen a description or definition.  All I see is more debt creation! 

I think the price swings are going to get more violent as the system is changed.  This may give people oportunities to get out at extreems that may suit them.  So I suppose it is best either not to play or have positions that don't expire or shake you out.  It might be smart to exit at the first profitable extreem that you meet.  Short ETF's come to mind as a way to avoid being shaken out by a margin call, but the ETF might be shaken out.  

If shorts are illegal, the negative feedback loop will be removed from the system.  Open loop systems have positive feedback, are unstable, and go to extreems.  http://en.wikipedia.org/wiki/Feedback  If there are only longs, price appreciation will cause more buying until there is no money left to buy with.  (The government may print money forever to keep prices going up, but they don't give me any.)  This is positive feedback to the extreme of no money left to buy with.  (Just like the housing market.)  At this point sellers wanting to take profits will see prices drop, prompting every margined long to sell to no buyers!  With the instability of positive feedback and the removal of negative feedback, if you can wait, you will see an extreem to exit at profitably.  What the dollar will be worth at that point is anybody's guess.  Maybe they will print so much money until all debt is insignificant.

Negative feedback from short sellers wanting profit will prevent prices going to zero because there will be people wanting to buy to take their short profits.

I haven't gotten a raise.  Prices going up a lot can only happen with more debt fuel.  I think we just have to sit back and watch it explode.

I just caught this post today, did you put everything into the ultrashort today?  How did you fare?

I exited my UYG position about 9% up, wich I felt pretty good about seeing as how it was down something like 35% at one point.  I'm trying to move into cash until I see something worth bottom fishing... maybe when this "rally" topples I can pick some up really low.  There's still money to be made on this financials trades, I'd just rather wait until the drop again and make it on the long side.

Congratulations RetireOnTIme!

I put everything in the ultrashort day before yesterday.  I wish I put it in today!  My 401K is so restrictive, only mutual funds, so it takes a day to move anything.  I don't want to look, but I am pretty sure I am down 10 to 20 K today.  However, if I have to be in the position of having my retirement captive to an institution that has refused to release my funds, I may as be in the position the industry has made it as hard as possible to be in.  If I have to be in the pen, I don't want to be the sheep with all the other sheep.  I'm hiding.  Bahhahah.

That's the only place they are going to let you make money in the financials now.  Long.  The SEC has removed the negative feedback (short selling) of the system.  It will be interesting.  If institutions are still running the same old trading algorythms they will be broken now.