The Quick and the Dead

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For me, one of the big appeals of down-markets is that they are really, really fast. Most of you know the Nikkei got absolutely slaughtered last night (can you imagine waking up to a Dow that was down over 1000 points? Oh, the glory!)

The chart below captures it nicely; twenty days of bulls mincing, prancing, getting their hair done, and picking out furniture together – – – all laid waste in a single session. God bless our bearish brethren.