Looks like we're up the proverbial creek now. We'll see slow and...

Looks like we're up the proverbial creek now. We'll see slow and steady downward trends across the broader market as institutions begin to unwind their positions into cash. There's no doubt about it we are in a global recession and have been for quite some time. Be prepared for a protracted turn to the down side.

We're already seeing the strategy unfold which is strange because this time the institutional money is late out of the gate providing retail with some chance to exit with a little more than usual.

My prediction is we see a gradual trickle down to the 3-4c mark and hover there a while until some serious results come out which really shouldn't be too far off. The sell side is loading again and it's looking like someone's going to smack it down pretty quickly.