The only tip off to today’s financial meltdown that I noticed, was the extreme weakness in MER, LEH and BSC, that showed up beginning last Friday when persons in the know apparently started to sell the investment bankers. The GMI is now 1 and the GMI-S is 25. There were 52 new highs and 64 new lows in my universe of 4,000 stocks. Even the IBD growth mutual fund is now negative. When these mutual fund managers cannot make money, neither can I when trading growth stocks. 0-1% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes rose, the worst I have seen since I began blogging 2 years ago. Only 33% of the Nasdaq 100 stocks closed above their 30 day averages on Tuesday. This is no time to be brave, and it would be wise to stay in cash until things settle.