[overnight]

HPH stated that the event could be anything, and not necessarily something BIG and obvious - merely that an event will occur that will precipitate future hardships.

If we look closely, a few noteable events did occur today. There was the Fed getting into the OTC derivatives business. This actually prevented an imminent world wide meltdown but will actually make things alot worse down the road (hyperinflation, anyone?).

Bernake was also seen on TV today, saying basically that everything sucks and we're all going to die. Or something to that effect. As soon as he got his ugly mug off the screen, the Dow tanked and tanked hard. Investors are even more afraid now which will impact near-future market events.

Iceland is about to go bellyup. One of Iceland's banks has today denied its customers in the UK any deposits or withdrawals. This could be the catalyst that bring the UK down, as many of us have been hearing of. Additionally, there is some scary news just now about the LIBOR rates and how that is going to affect bank to bank lending in the UK.

Remember, trick is to keep watching the next few days, weeks and see if these events are indeed going to spark something much much greater then.

-O.n.