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MONDAY MARCH 10
Market Volatility: You Ain't Seen Nothin' Yet

Geez, folks, I hate to sound like a broken record, particularly when I have nothing to offer but another regurgitated blog bite about how sucky things are, but I feel that I should go on record to say that this is a VERY dangerous tape. The trends discussed in the last edition of the Left Tail Report are still by and large in place, which means that I don't see any hope for a sustained rally, until both: a) There is full disclosure of losses in the financial sector; and b) The market has squeezed every last bit of rate cutting out of the Federales that is humanly possible.

By: Ken Grant
March 2008

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