Today's stock market action--rising fast on good news about oil, then failing to sustain that rise, is not healthy. Particularly after last week's drop.
The market has been due for a huge 1-day drop for a long time. Several have started but been actively circumvented by Fed action (surprise announcements during trading hours, the Bear Stearns weekend agreement) but they can't hold the dam back forever.
Tuesday, September 2, 2008
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