Wednesday, August 10, 2011

Breaking: THE BOTTOM IS IN !!!

- by New Deal democrat

Both the King of All Doomers and the Pied Piper of Doom have triumphalist pieces up this morning.

If their past performance is any guide, this means that the bottom of the stock market correction was yesterday afternoon after the Fed announcement.

This has been a public service message. I now return you to regular progammed blogging.

UPDATE: 30 minutes after the market close. Yes, I was being sarcastic, but on the other hand, even though we had a bad day today, yesterday's intraday low was not breached. It is still the bottom.