It is truly amazing. The market is acting very, very stange these days. Today for example,the market started to sell off after the Fed held rates steady but there was a short covering rally into the close because of the AIG situation. Despite the futures being up, I think we get a spike at the open tomorrow, followed by a sell off. It looks like there is a lot of day trading going on both long and short due to the incredible volatility, which of course just adds to the volatility. Did you happen to see the volume on the dow today…9.4+ billion shares…that has got to be a record. I personally think the market will go down {a lot}, but I see the catalyst being 3rd and 4th quarter earnings season. I agree with other posters, the average Joe just thinks that “stocks are a good long term investment”…”buy and hold”. Kinda reminds me of “real estate never goes down”. People just swallow what is fed them from the media…pretty sad.
