No, I did not expect a -9% down day. I was looking for a -3/-4% day. That late day selloff was absurd and it fueled round after round of massive panic selling. Meredith Whitney obvious added some fuel to the fire (thanks!). However, this slaughter is not over. We may get a nice bounce or reaction rally, but that means nothing unless the SPX gains back today's lost -80 points (or close to it), and this must be done tomorrow for the market to even have a chance....