Thursday, February 19, 2009

No Trades, Just Popcorn

While the Dow made a new 6-year low today, the S&P 500 is still above its November nadir of 741 and the NASDAQ-100 is quite a bit north of its 1295 November bottom.

Don't watch the Dow too closely now. Even if Bank of America, General Motors, and Citigroup went to zero tomorrow,.....due to its price-weighted composition, the Dow would only drop about 50 more points.

And, of course, if those turds doubled tomorrow, if they went up 100% apiece,'d only raise the Dow about 50 points!

For my last trading update, click here.

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