Doom and misery thick on the ground.

Dunno about all this bearishness. Looks overdone. Blogs around the place are heaping on the misery … very doom and gloomish. I had prepared a post earlier in the day about this, but it turned into a bit of a rant (a huge bit of a rant, actually).
In summary, though, the bearishness looks overdone.
A lot of the indicators I look at have stabilised somewhat (TED, for example). To be fair, though, not all.
Also, the market is short, short, short. If anything there is buying to be done.
Might be some downside today, but if so it will be limited.

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