@cnn - I'm looking at that NSE print and my jaw has hit the floor! That is a massive 127pts and 3.48% drawdown! And with 3600 giving way with a thud, all the fast trade setups are cancelled! I will keep tabs on cheap bluechips as the haircuts continue as per the list I gave. The panic selloff is leading to dreamland price disconnects aka fat tails. I like this very much for when the bull returns in the future a lot of millionaires will be made

@youcant - that is what I meant when I said NSE will flip down today between 3 - 4%.
When I started this thread I said if another round of GFC shows up, wait for the US Fed bank signal of printing money to oblivion. Since the US rating downgrade is such an outlier, I expect this to be a global coordinated affair. This will be the signal.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!