About a month ago I wagered a friend that the DOW would hit 12500 before it hit 14000 again (it was at 13200 at the time).

It was very sad to see it bottom at 12501 this afternoon before skyrocketing back up several hundred points. Though I still think I’m going to win that free lunch. I can’t think of any economic news that could propel the market back up against all this downward momentum.