So! These were the headlines that greeted us a short time ago when we exited the Time Summit and were able to check the state of world affairs. Looks good, no? Market is up. Websites are running pictures of smiling stockmarketers. Phew! Or is it? We checked in with Clusterstock‘s John Carney to see what was what, turns out (not to be glass half full) up is not necessarily better.
FBNY: So, is it good that the Dow went up so much?
John Carney: No. It’s just as crazy as the huge sell-off at the end of the week. Crazier, in fact. If last week was panic, today was mania. A bi-polar market is no healthier than a bi-polar person