The stock market is unbelievably oversold. According to Bespoke research the market has never been this far below its 200 day moving average. Fear gauges are soaring and full on panic appears to be setting in as treasury yields approach zero. We are approaching very important technical levels on the Dow as we near the 50% retracement level of the 25 year bull market. 7350 represents a full 50% retracement of the 1982-2007 bull market. I would not be surprised to see a bear market rally at some level close to here. I am not wildly bullish as I still believe we are in the middle of the most powerful deflationary force the world has ever seen, but I am not afraid to put 25% of my money to work down here.