Look at the action. Sarkozy and Merkel huddle. An olive leaf (pun intended) is extended on debt monetization if austerity measures are enacted by Italy and Spain. Burlesconi and his Spanish counterpart agree. Then S&P downgrades the rating for U.S. credit. Do you think these actiona are unrelated? If you answered "yes" to this question, you need to exit the equity market, immediately, and proceed immediately to the next Coinstar machine for protection.
What's coming next?
IMHO, it ain't going to be for the faint of heart.