Credit bubble.

Large institutions that are overexposed to U.S. subprime loans are back to haunt the market.Wall Street is also celebrating the Hungry Ghost Festival - A traditional festival from China
The lingering effects of the crisis mean banks and brokerages need ``massive'' consolidation because of the glut of lending worldwide.
In fact August marks the 1st Anniversary of the subprime rout.The financial market is again held at ransom by these market hawks.They are the tactician versus the technicians.
Hold on tight to the seat belt as they bring another roller-coaster ride the financial market worldwide.
Tracking the Dow on 12/08/08.Tuesday.
9:30am--80.0 points gap down.BEAR
A shaven top.Another wave of writedowns and other troubling news from the financial sector,a ground breaking ceremony.
10:30am--3 Black crows withe bottom spin.
First session low,buy for technical rebound to hour's MAV.
11:30am--Shooting star.
Take profit,sell at near MAV.The candlestick is still bearish shape like hangman.
12:30pm--Bearish graveyard doji.
News of losses at UBS (UBS), JPMorgan Chase (JPM) and Wachovia (WB), as well as a downgrade of Goldman Sachs Group (GS), set the stage for some profit taking after the market's recent rally.
1:30pm--Bearish hammer.
A glimmer of positive news in the U.S. trade deficit, which narrowed unexpectedly to $56.8 billion in June, from $59.2 billion in May. The new figures suggest the U.S. economy may be growing more quickly than previously believed.
2:30pm--Shooting star at day's bearish candlestick.
UBS reported $5.1 billion in losses and writedowns from the second quarter. The Swiss bank had already reported $37.4 billion in writedowns in previous quarters, many from assets backed by U.S. residential mortgages.
3:30pm--Day's low set.
Safe to make a long position.Goldman Sachs was downgraded by Deutsche Bank analysts from buy to hold. Oppenheimer analyst Meredith Whitney cut her third-quarter earnings estimate for the investment bank to $2.15 from $3.54 and trimmed her fiscal 2008 forecast to $14.32 from $15.75 a share, citing customer volumes, overall weak global equity markets and weak advisory and underwriting revenues.
4:00pm--Hangman + bullish spin.
Sell,short to close position.
Tuesday's bear is trying to give a full tight slap to Friday's bull.The shaven top bearish candle signifies bears not giving up its onslaught.