Our “Batten Down The Hatches” call proved timely as the market sold off by about (10 percent) before staging a partial recovery

Third-quarter earnings confirmed the worst-case scenario — plunging oil prices are whacking almost the entire industrial sector. The theme is hardly new, as the pattern of our headlines has revealed over the past fifteen or so months:

Third-quarter earnings are confirming the worst-case scenario, i.e. — not only are energy related end markets in a downturn, but conditions continue to worsen.