I should really turn off CNBC, as it’s shaking my brain into Jello, but Zachary Karabell just said something I liked:
Unless you believe the market’s going to hit zero in 25 days, we’re not going to have days like this every day.
But what if you believe the market’s going to hit -10,000 in 50 days?
Update: The Dow ended up dropping 508 points. It would take less than 19 days to get to zero at that rate! What I’m waiting for is when it hits 3,600, and James Glassman and Kevin Hassett reissue their infamous book with a zero lopped off the end.