Philly Fed Oct factory activity crashes.

What kind of reasoning would you suggest that indicates a quick "V" shaped turn around.

The market is slowly pricing in that the V shape is out, and that the economy will continue to slide, and hedge funds continue to liquidate, including a surge in redemptions in early December.

The market is headed lower no doubt, and a closing price that is below 7000 at this point would make sense given the changes to the economy in the past 2 weeks.

The only reason the markets are not sinking is because there are still losers who keep calling bottoms including losers that said buy FCX last week.

I am looking for an XLP at about $ 15 per share. At one point the XLP will drop faster than the DOW index, just like the RTH did last week. Then it will slide 25% in a week.