The true worst-case scenarios are not even close to priced in this market yet.

I think we're at a fairly exaggerated level. The market is considering worst case scenarios.

wants the dreadful, wants to stare down the human race's worst-case scenarios.

We're still struggling in a fog of volatility that may obscure the fact the market is, or may be close to, bottoming,

It's not a buyer's market, but we're close to equilibrium.

The switch is not going to be that smooth. Within the next 14 days, I think we are going to see prices steadily climb.