s & p downgrades us debt , page-3

i can't see how this downgrade was a known known. very few would have expected this, most would have assumed the rating agencies would do what ever the us gov/fed wanted and tow the line. especially after finch and moody backed their aaa ratings.

i'm sitting back(70%cash) and not putting anymore investment $$ into this market until it puts in a decent bottom. might trade the bounces a bit.