"Tick-Tock": Hartnett Turns Apocalyptic, Says Carnage To Accelerate With "Max Pain" And "Exit" Waiting Below 4,000

One week ago, just when everyone thought that he couldn't turn any more bearish, BofA's chief investment strategist Michael Hartnett, shocked everyone when he told his readers that while the mood on the street was already dismal, relaying the the Heard on the Street line was "Im so bearish, and even I'm miserable", he warned that even though everyone was bearish, redemptions were just starting, and the real selling was only just beginning.

Well, one week later - and much to the embarrassment of JPM's in house permabull who a week ago said to take the other side of the trade and to buy stocks - Hartnett has again been proven right, with the S&P tumbling and the Nasdaq suffering its worst month since the Lehman bankruptcy.