I remember writing a very similar headline a few months ago as the student body was running at almost exactly the same pace. 7.9% in 9 sessions annualizes over 250 market day to about 225%. I assume at some point we'll have another down day in September... if one is not taking any chips off the table here they are being greedy. The one thing that never ceases to amaze me is how quickly fear turns to greed and vice versa in the market... never gets old, even after all these years.
We now have 2 distinct gaps to deal with in the chart, one from this morning at S&P 1110.9, and one created between Sept 2nd and 3rd at 1090.10.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows