It was just about at this time last year, actually mid July 05 when the london train bombing occurred. Now what happened, a plot to blow up some airlines, so what can we expect in July/ August 2007. If the market closes up that will sure give the wallstreet monkeys something to crow about. Look folks not high oil, rising rates,war in the mideast can bring these markets down. especially when we have the index futures to manipulate price and minimal cost.
The operation was ongoing last night when the US was still open. Maybe that is why the dow kept going lower?
It's hard to find an analyst now with a bullish view. I remember just after the correction there were plenty shouting "it's nothing to worry about, the bullmarket will continue." I even got an email from some report saying the Dow will reach 40,000 over the next few years. Now everyone is saying it's going downhill. Quite interesting. Everyone is trying to justify it, but nothing major has changed really - nothing that has ended a bullmarket in the past. The mood seems to be changing, and that is what will probably drive it.
Well... unless you interview every trader/stockholder in the market, you'll never really know "why" it moved in a certain direction... It's like a wooden dresser, I see a pile of firewood and will offer $1/lb. Another guy sees "antique" and offers $10/lb. Which offer do you think will be accepted?