Tuesday, February 27, 2007

Sinking Dow

The Dow has plummeted now over 300 points and a lot of people are saying: "I told you so." The VIX was up over 60% after being at a historical low.

“If you want to believe that some bureaucrat in China changing the margin requirements for local speculators as the cause of the US selloff, then go ahead,” says Barry Ritholtz, in a comment today. “Me? I prefer to believe what is right before my eyes: Decaying economic fundamentals, a complacent market that is overbought and way overdue for a correction.”

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