Thanks for posting that. I had an interesting thought while listening to it, that when no one has an answer to why something is happening in the markets, blame it on the computers. But there are to many moving parts to this whole scenario for me to think it to be so simple. My personal opinion is that the big money has been going to cash for at least the last year, and all the volume now is from computerized trading, and automatic pension fund and 401K contributions. Other than that, there is so little buying, there is little support.
When you have an oil industry that has been such a major contributor to and supporter of world economic health contract so quickly, what's going to pickup the slack? What's the difference between this and the collapse of the housing market in 2007? There are so many parallels that it's mind boggling that one could follow the other in such quick succession. The only possible reason this could happen is that our economies have become so saturated and dominated by financialization and financial engineering that there was no other recourse than to create more financially engineered bubbles to continue to give the illusion of economic growth through the expansion of ever more debt.
In fact, the world is so awash in debt it surely must be reaching it's limit and it must be obvious to anyone paying attention that most of it will be impossible to repay and will never be repaid. How long can we continue to extend and pretend? How much longer before it becomes obvious to even the average person that the central bank experiment has failed miserably and it's time to exercise common sense and end it?
Like it or not, we are seeing the start of a global deflationary downward spiral. Great for holding cash in. Not so great for holding hard assets.
Trading/investing without chart analysis is like bringing a knife to a gunfight.
