June 20, 2008
– Comments (2)
Just one word: wow!
Really, it was amazing to see this drop below 12000 based on nothing but rumors, speculation and option expiration volatility. Picked some RTN, ALV, AIB and some other cheap goodies like TKC. Let's see what happens next. The Fed is meeting next week. Zero interest rates, anyone?
Or it could just be capitulation to the fundamentals of inflation, earnings, unemployment, macroeconomic factors and destruction of hyperinflationary credit derivatives.