I am not looking at this from where the market was and where it is now. I am looking at this from a stand point that economic data has been much better. Things here in the US are not falling off a cliff. China is also doing better then most people thought. They sure look like a soft landing is happening. Then you have companies out there with huge cash flows. Then you also have companies running leaner then they ever have. Earnings are growing. You also have tech spending coming back just look at CSCO's and INTC's latest Q's plus their guidance was very good. I think this market is being ran by fear and thats it. Take the EU out of the picture and where is the dow and nasdaq sitting with the latest rounds of economic data. You also have retail sales that have been better. Then take into account that housing data is actually showing signs of improvement. I know last friday the latest numbers on new building permits was actually up. Things are turning around and the world is not falling off a cliff.
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