Looks pretty much like the market is pricing it at the worst...

Looks pretty much like the market is pricing it at the worst case scenario. Ive been the optimist until this happened, but the chart's sudden fall was the warning.
I dont know whether it was listening devices in boardrooms etc. or inside knowledge.
Whatever, everyone is conserving cash like mad. The black spot is Spain. When the pall of gloom lifts a bit, there seems enough potential for a substantial price rise from this low level. With the Euro headed down what hedging positions are in place? Any info anybody?