RE: Zinc down 4.67%It is not only panic but the results of a little known fundamental change in the stock market. In June 07 (during the bull market) and unknown to the herd, SEC eliminated the uptick rule that had been in place since 1938. Without the uptic rule a bear market will now and for ever be 100% more volatile giving the hedge funds and shorters a licence to steal. Today is the first real test for shorters buying without having to wait for an uptic. IMHO I believe it was the big hedge funds who swayed the Bush run SEC to make the changes for a payback. The original rule was put in place to prevent running stocks down to zero...I never quite understood how that could happen.
Although TAM was the in the top 5% worst performers today...all stocks got hammered regardless of their quality or fundamentals.
Best to be in cash unless you really know the ins and outs of shorting.