Closing em ugly

I talked a little about the fact that the market needed to take out the January lows on a closing price to get me pretty excited about the downside. Not only did we do it and do it with gusto today, but we also have some fear back in the streets with volatility doubling today in one day’s work. I mean today was pretty aggressive selling, I don’t care whether you are a bull or a bear, there is no denying today’s downside strength. We were at 6 to 1 Advances over Decliners most of the latter day. Trend day down all day, even if you sold the gap open down and held until the end of the day, it was a pretty good day to the downside for short sellers.
Every talking head the last hour of the day came on and said we are going only 2-5% lower and you need to buy em. This is garden variety sell off, blah blah blah. I am not so sure of that, with subprime taking down the XBD and the BKX in a way I haven’t seen in literally years, I am excited to see the volatility back and the fear back. Will everything, all assets continue to move up and down together as we have for the last few years, or can we get back to some normal markets where relationships matter and we aren’t run by liquidity and hype? Time will tell, for me a crucial exciting juncture is here for this market. I am reinvigorated that some fear is back. And fear is a great thing for traders.