“‘The fact is people are scared and the only thing they’re doing is selling,’ said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research. ‘Investors are cleaning out portfolios and getting rid of everything because nothing seems to be working.‘” And on the first Monday of that October, the Dow plunged 800 points…I know I spend more time than most contemplating the 1920’s, but I can’t be the only person out there for whom this is all starting to sound eerily familiar…
Update: Hold those dismal historical analogies just yet: Thankfully for everyone, the rally monkey roared at the end of the day, bringing today’s losses to only 370 or so. Still, it’s safe to say things are looking a tad, er, erratic on Wall Street at the moment.
My husband is shitting his pants…..
In times like these you must…
Sarah Palin, although a mere vp candidate, seems a historic figure in the sense that she has already eclipsed her running-mate in the public eye and, you should forgive the expression, heart. Is there any U.S. historical figure that you would compare her to? After yesterday, she is starting to remind me of Sen. Joe McCarthy. Not quite Fr. Coughlin . . . yet.