“The GE earnings miss and guidance revision last week highlights how the increasingly weak macro environment can quickly sneak up on even the most diversified and well-run of industrials businesses,”

I would actually be buying calls in specific industrial names and have Honeywell (HON) and Union Pacific (UNP) calls on my book for the past 2 weeks.

Don Dion, the publisher of the Fidelity Independent Adviser family of newsletters, pointed out the PowerShares FTSE RAFI Industrials Sector ETF (PRFN) as a potential safe haven for during this turbulent market. Not everyone has the time or the understanding of the markets to make wise investment decisions and this might be the answer for those people.

Excerpt from the Hussman Funds' Weekly Market Comment (2/19/08):