ProShares UltraPro Short S&P500 (SPXU)

[str8_chuter]

OK, the Fed has now shot its wad. They've already begun tapering (Treasury purchases down from $300 B per week to "only" $75 B per week).

We had our Lehman-like failure over the weekend with Singapore's Hin Leong Trading collapsing due to massive fraud. The company owns one of the largest crude oil storage facilities in the world and now the ability to store at its facility has been suspended. Just one of the reasons why crude prices crashed today.

And now come the waves upon waves of credit defaults.

Fed is powerless to do anything. This isn't a liquidity crisis, this is a solvency crisis. They cannot print cash flow. Step aside and let the bankruptcy courts sort it all out, as they should have done 11 years ago.

Short at will. The real drop is about to get underway.