Fishtailing Market

--- 2007-08-01 ---

Watching the stock markets of late, it really seems like after the DOW hit its crazy highs of 14000 it then went rapidly into a chaotic fishtailing mode - as if it had reached some precarious level of instability, like a car with a badly aligned wheel entering into a speed wobble at just the right speed.

I've witnessed a car fishtailing in front of me on the freeway before. It proceeded to spin out of control and end up in a nasty accident, with the shaken up and disoriented driver crawling bewilderedly out of his vehicle that had come to a rest against the freeway's side railing.

It seems very much like the charging bull has charged, obliviously, right into the patch of oil slick that is the subprime mortgage fiasco, and now it's aslippin' and aslidin' as it tries desperately to maintain its balance and not go flying right onto its bully ass.

Are we about to witness a nasty "car crash" for the stock markets?

Wall St shaken by late-day market surges