What\'s given can be taken away

Are market participants mostly rational and logic?  probably yes, but most of them are so narrowly focused  on near term event that sometimes even something obvious can be easily missed.

It has to take a full night for the whole market to realize that the Dollar over-corrected, pricing in a whole point cut instead of 3 quarter, thus, the greenback went up against other currencies, suddenly all dollar denominated assets suddenly become cheaper, thus the collapse of the commodities.

Also, the brazil, the australia,  the russian and even canada, those economy depends on the export of natural resources went down as well, and so does other emerging market. 

Sounds like  paradise lost ?  

Well, the interesting question is where all those "hot" money will go next ?  Will the pendulum finally swing back to us equity market?   only time can tell, but an interesting thoughts nevertheless. and I will definitely keep in mind to look out.

In the meantime, the reality is harsh and thanks for my busy work today, I only watch the eupherism melting away from my office desk. Sometimes, you have to thank your boss for making you work harder, even though the consequence was not intended :).

Good luck