The market started getting worse just after I posted. :)
Let's hope for a recovery today. They seem to have managed some downward momentum in the broad market.
I wonder how much the change in the short-uptick rule (July 07) has to do with this. I heard that there is an article on this in the WSJ today but I have not read it.
If coordinated sells start to hit the market at certain times, any market will break down. I think the probability is high that this has ben happening a lot after the change in the rule.