A followup to my posts on hedge fund problems here and here, I see that there are more news headlines such as Hedge funds on the brink as US Federal Reserve cash fails to ease crisis. This market is not likely to make a definitive bottom until some dead bodies (literally or figuratively) start to float to the surface. We are starting to see the bodies.
In the short term, however, there could be trouble. The Yen has strengthened against the US Dollar through the 100 level. As I mentioned before, this could portend a panic selloff.