The market rollercoaster has picked up momentum. In our last missive I said: “I am not an alarmist, but the people telling you that these are not very serious times are either ignorant or lying….I’m not implying that the market might crash, but we certainly have all the ingredients”. Well, the market certainly crashed. The Dow opened at 10,322 the day after our commentary and hit a low of 7,773 just 5 days later for a drop of 24.7%. It has since bounced around wildly including the largest one day rally since 1932 which occurred just two days after the 7,773 low. The 1,000 point rally got us right back to where we were the Thursday before! The rebound was mostly due to the extreme actions of the Federal Reserve and European Central Bankers over the weekend. Governments in Europe and the USA have agreed to inject huge amounts of capital into their banks while guaranteeing all inter-bank lending.