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Walter, a friend and trader, writes:

Did you know that immediately preceeding market downturns specifically, and in general, just bad economic times, the color pink becomes extremely fashionable?

I noticed this in Australia in 2003 - all these guys in pink shirts.

I thought it was funny.

But it has only gotten worse. It is everywhere.

Didn't seem so bad in the states when I was over there, but noticeable (especially when you are looking for it, like I am - always).

Basically pink is a color that we are attracted to when we are in debt. It is a soothing color. Makes everything ok.

I remember wearing a pink tuxedo as a kid, as a young professional magician and then a few months later – Black Monday.

It turns out that throughout history pink experiences a great increase in popularity – and then the economic bad times come about…

I can't believe how leveraged people are now, scrambling to buy homes in Australia, and then going out and buying pink clothes with the second mortgage they have taken out on the home.

I can't help myself, but I love asking people in pink how many credit cards they have.

I wonder if it is a bad sign that the CFOs in the US are wearing pink ties?