As ugly a day as I've seen in a long time

Pull up a chart of almost any home builder ... any broker ... any bank ... any mortgage lender. Look at what's going in the credit markets (junk and corporate spreads ... mortgage derivatives ... CDOs). It is ugly with a capital U out there.

I said a few days ago that "something stinks." And I said at the end of June that a lot of signals were pointing to chaos ahead. Looks like that's what we're getting -- in spades. Ironically enough, the day I wrote my June post was another one in which I was pulling kid-watching duty, working on and off from home. Maybe I should just go to office every day to avoid jinxing the market.