Despite what you may be hearing in the mainstream media today, there has been NO Wall Street "meltdown".
The stock market is actually now only down amounts that are fairly typical of a number of the individual bad days this year--no meltdown. In fact, the stock market has only retreated to the bottom of its trading range, and is bouncing up. Barring a reallly bad ending to the day, it looks like the stock market will not even close at new lows for the year.
In short, as with the economy as a whole, the stock market is weathering the news on Lehman Brothers, AIG, and the rest (Merrill Lynch being GOOD news, for the most part, since the worry of problems there was removed by the Bak of America purchase)--weathering the news pretty darn well.
Yep. AGIAIN the speculators on Wall Street seem to be able to avoid PANIC better than the hysterical types in the media. I would worry about that if I were a "journalist", but they are not smart enough to understand their own irrationalities.
No comments:
Post a Comment