Will Thursday be a Horror Show?

Everyone’s first reaction to the Moody’s warning was “Look out below!” and the futures plunged.  But you know what?  They actually recovered a bit. 

Tomorrow is going to be interesting.

My first thought earlier that with the market volatility lately, any plunge may be kind of interesting.  Tempting.  You know?  I still think the market heads to the bottom of the trading range, though.  But there is some distance between here and there, and the markets tend to fluctuate and all.

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I’m sitting on lots of cash, some low beta stuff, and some oil.  We shall see…