Tuesday, February 27, 2007

When A.F. Greenspan speaks...

...people listen. Remember that E.F. Hutton commercial from the '80's? Well, I digress...Surely we can't attribute today's correction to one measly speech by the Ex-Fed. Chairman, can we? Similarly, we can't really expect the DJIA to ramp up 15.9% in 7 months and not make more than a 2.0% correction. Granted this 3.29% "correction" happened in only one day (worst 1-day dump since 9/11/01). Actually, when you break it down the majority of this correction happened in the course of only 10 minutes. Another train of thought....surely the Chinese market was due for a "correction" as well? This article called it 6 weeks ago. Maybe the masses just needed a catalyst, and Mr. Greenspan seemed to give enough fodder. I'm anxious to see what'll go on tomorrow. Currently the Hang Seng is consolidating after a large gap-down. The Nikkei225 doing nearly the same.

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