Markets preparing for large losses again; if you're still in mutal funds, it's your own fault and greed

Futures on the financial markets show large losses today for investors, as the Dow drops even closer to 7,000.

That's remarkable, considering the Dow was double that number and value a year ago. People who have stayed in the market have now lost 50 percent of the value of their holdings.

The flight to Gold resumed today, as the per ounce value of the metal approached the psychological ceiling of $1,000. It will probably crash through it for the time being.

For those people still in mutual funds, your chance to get out and save money has probably passed. I've tried to warn you repeatedly to get out and put your money in cash. But so many people, including very educated people, have declined to protect their assets.

They believe the markets are going to bounce back fast. They won't. Their financial advisers have convinced them to stay in because their profitability is geared to their assets. Greed still rules too much.

The continuing fall of the markets is going to create even more victims. This time, however, it will be their fault. Plenty of us have been warning them to get out.