The market has been murdered, and yet traders are still latching on to the belief that a coordinated global rate cut will give them a monster rally to sell into. Now, if a lot of people are thinking this, and from the looks of it, that is the case. Just like the bailout plan passing, there is a high probability of a sell on the news reaction. After that, then we will probably find a bottom, not during the buy the rumor stage of this bounce.