Well, folks there you have it.
The bottom just happened, hopefully you didn't take their advice.
we have had a whole bunch of down 200 or up 200 days. but the earnings season may up that ante a bit. Gotta love the swings though, traders best friend and worst enemy
The yahoo finance page headline saying that fear Europe will dent earnings is causing 200 point drop is kinda misleading. The biggest factor on earnings day is forward guidance. Since many are predicting that Europe is headed for a recession, the big multi-nationals will be hard pressed on the guidance going forward.
Bloomberg has been reporting after the close today that the Russell 2000 has crossed the -10% official correction number. [more]
This could all be just a bluff to scare people into selling their stock holdings because it seems that when stocks start a downtrend we get a flurry of bad news to hasten the downfall or the news in itself is just a self fulfilling prophecy. [more]