The above article appeared in Globe and Mail of Canada
Once the folks that flocked into safe-haven assets such as the long maturity US treasuries notice that funds like TLT are dropping and they are not so safe, they will try to buy anything that is going up which would be the equity funds. Then watch out because the rally can get exacerbated.
We may still have one or two more panics before the dust settles and it is too early to tell, but it looks the sellers are done selling because they just could not handle the thought of another 2008. Keep an eye on the fear index VIX. It never surpassed its August 8th high of 48!