Over the weekend, the headlines were screaming death and destruction. When the headlines of two national papers start carrying headlines like this, it's time to pay serious attention! What's with the sudden excitement? It's not as if it suddenly happened. The STI has already been declining for months from the last high of 3500 earlier this year. So 3,000 is perhaps just a psychological number, which was otherwise of no significance? At 3,200, we were already effectively experiencing a correction (-10%) and we had already gone past that. By 2,800, we would officially be in a bear market (-20%). In fact, some of the emerging markets had already reached bear territory in recent weeks. On, 24 Aug 2015, the local market seems to have collapsed. The board was a sea of red. Mumbles of "Black Monday" was heard. The VIX was rapidly reaching the 30s while the STI had reached ......