The DOW is below 10K for the first time since 2004. While I think it ultimately might settle in around 7K, that could take a year or so. In the near term, the panic phase will probably subside and we'll see some sort of rebound.

Houses in OC hit a high of around $630K in late 2007. They're currently at about $450K, and I expect them to go to $300K before we see a turnaround.

My MCFTX hit a low of $5.23/share last Thursday. The flood of high quality assets seeking cash is playing havoc with otherwise conservative investments. The recent crash was initiated by the bankruptcy of Lehman. Things seems to have turned a corner and I'm hoping for a bounce back up to around $5.60.

On a positive note, yields in tax free muni money markets are though the roof as nobody is interested in tying up short term money. The tax free yield is up to almost 5% from 1% last month. This money is even safer as it's par value is now guaranteed by the US government. (If the money was in the account as of September)