Who Is Cheap Now?
The weekend sunshine and great weather for baseball was a temporary respite from the fact that there's been an ugly mood in the markets the past couple of weeks.
Even the much-heralded Facebook (FB) IPO could not lift its spirits (although it may have demonstrated that valuation still matters). This is nothing. Six-straight negative days for the S&P 500, yet there were just three trading sessions in the past month with losses greater than 1%. How quickly we forgot the volatility of last August/September, when the index closed up or down more than 1% in nearly 2/3 of the 44 trading days. Included in that two-month stretch were 18 days of moves that were plus or minus at least 2%. I'm not relishing a return to that type of environment, just putting the current environment into perspective. ...268 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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