What is surprising me the most about the market is the price for a company that produces nothing. I'm out of the market and will stay out. Not getting back into commodities either.

Some perspective using other crashes:
Oct 24 1929: -11%
Oct 28 1929: -13%
Oct 29 1929: -12%
Oct 19 1987: -22%
Those are just single days. The overall decline of the stock market in the Great Depression was around 90%. Having a 50% collapse over a year does not seem out of the realm of possibility. I've already lived through the 1997 crash, the dot-com crash, and the subprime mortgage crash. The basis for the current run-up in valuations is flimsier than the one that drove the dot-com era. I have become very pessimistic.

I totally believe it. At the end of December, Warren Buffet reportedly dumped ALL his Intel stock & significantly sold most of his stock in Proctor & Gamble, Johnson & Johnson & Kraft foods. Perhaps he knows of something ahead most don't?

I have noticed the markets acting strange of late. Going up on bad news and reaching new highs for what seems like no reason. I have been expecting a crash for some time but the timing is always hard to predict.