Over the last dozen market crises situations, I have developed a system to tell just how bad it is. It is foolproof.
In the afternoon, I tune in CNBC and pay close attention to Maria Bartiromo's hair.
The flatter it is, the more serious the problem.
Here, all is well:
(http://photos.exposay.com/Maria_Bartiromo/maria_bartiromo_0kNtr.jpg)
Here, is a serious market dip:
(http://www3.pictures.gi.zimbio.com/Meet+The+Press+QBWuhAdC5cxl.jpg)
Here is a meltdown:
(http://www.webwiseforradio.com/site_files/244/Image/MariaBartiromo.jpg)
Here is Doomsday:
(http://farm1.static.flickr.com/34/136525576_af14d6f0d4.jpg)
Don't know Peter it looks like there is more dip showing in the first photograph ;)