THE PHENOM

Hard to believe how one guy could be so responsible for so much lost market value so quickly. Cramer comes on CNBC at about 2:50 EST and top ticks (CLICK ON CHART) the market by announcing he is bullish on the markets and would buy financials.

It was a few moments later that the markets lost about 235 DJIA points and about 3.4% in the financials. Not sure when he became the trading phenom but it is what it is.

Anyhow, markets heading lower in the after market and tomorrow - no clue again. Funny how this market turned right at resistance of 1,385 and not how GS turned tail right at the 50% retracement of 205.

Also impacting the markets, bond insurer downgrades - Bill Ackman and sell the rallies mentality.