Selling Today?
I will never understand short-term trading mentality.
A flock of starlings seems to have more brains than the yo-yos trading the market sometimes.
A month ago we were told it was lack of demand that was holding back the world economy. Now we have a big disaster that will force some major spending and stimulation in one of the worlds' biggest economies, and the moaning and groaning starts a self-fulfilling sell-off.
I'm betting Japan is now actually in a stronger position to stimulate growth, not weaker. And since one has to bet on some outcomes, I'd say the nuclear reactor situation is a "news-pumping" event - where Anderson Cooper shows up, you are one step closer to Jerry Springer giving you the news IMO.
Over-blown appeal to fear and emotion to glue more eyeballs to CNN and whatever dreck they are advertising - which seems to mostly be anti-cholesterol, anti-anxiety and anti-impotence drugs, to counter the effects of sitting on the couch watching and believing too much of the CNN dramafest.
Disappointing to see a 12 cent drop in our SP even if the volume is trivial in the scheme of things - looks like foolishness to me. But we'll just have to wait and see.
Long and strong.
CG