Good news…the S&P only needs to rally 40 percent to get back to all-time highs of just three weeks ago!

I have a bunch of thoughts to share as the market panic continued today and showed some signs of selling exhaustion.

First though I want to get to today’s most excellent ‘Panic With Friends‘ podcast with my friend Brian Norgard. Brian was most recently the Chief Product Officer at Tinder and my son Max’s favorite friend of mine.

I talk and text with Brian almost everyday the last few years about investing, the markets, startups and products so it was a no brainer to call him up and have him chat with me for this series. In this podcast we chat at length about this panic, the spider senses and memetics, the long upswing that preceded this panic, startup investing and decision making.

You can listen to the episode here or head to Spotify and search my name or Lindzanity or head to Apple podcasts app and do the same.

Now to the craziness of today’s markets and why we might be at some sort of panic and selling exhaustion.

Brian did say today that ‘no one alive has ever seen a market like this’. I believe he is right.

Here are some of the incredible numbers of the day in tweets from Ryan Detrick and more Ryan here, here and here.

Financial stocks have now given back gains going back to 2016. Fat Nixon always takes down his banks. The NYSE has dropped back to June 2016 BREXIT lows, and the British stock market – the FTSE – has given back all its gains back to 2012!

Oh and that ‘gig’ economy which was helping juice the markets and economy has imploded for now because of Corona Virus – take a look at Uber.

The CNN ‘Fear and Freed Index‘ hit 1 today which is cray cray scared.

Finally, the Stocktwits sentiment also reached an extreme I have never seen tonight with what I call a social VIX reading of 2.5 (It has averaged between 4-7 for years and years and not something we publish but hopefully will someday soon). Stocktwits message volume also reached all-time highs today.

What a day of selling and fear and possibly greed (by the shortsellers).

Thank goodness it is Friday the 13th (The Dow has been down seven Friday’s in a row).