Lose Control For No Reason

[rock88hard]

I have had a '99 986 for about 2 weeks. I already notice much wear on the back tires. I can't smoke the things because I don't know if there is traction control or that it can be turned off. So I figured the alignment was bad. I think this has something to do with the following.
I was driving in the rain today and actually doing the speed limit of 65 mph. Out of nowhere the car started swerving left and right. I thought I was going to lose control and do a 360 with cars behind and beside me, the wheel was going all over the place. I slowed to 50 mph and still had problems. It didn't stop until I hit 30 mph. I think it has something to do with traction control, but I don't have a manual so my guess is as good as the next.
If I were not 25, I would have had a heart attack. I had a line of cars behind me when this happened and the whole way home cars were passing me also. All the while I am trying to keep the wheel centered.
ANY IDEAS?!?! I am scared as hell to drive the thing again.