Remember when the Dow Jones crossed the utterly artificial breakpoint of 12,000? My, but there was much rejoicing in Lower Wankerville, what with the wingnuts popping the bubbly and pulling out the good cocaine. Yessir, good times, good times.
Of course, it wasn't clear what all the fuss was about since, as you can see, it's not as if the market suddenly exploded upwards in an orgy of profit for all:
More like just a slow, steady increase but, what the hell, still reason enough for an orgy of back-slapping and "I told you so" smugness.
Of course, when the TSX takes a sudden dump in the course of a single day, well, yeah, you can just guess what's coming:
Ok, is it just me or has the MSM just jumped the shark? I mean comparing the loses on the TSX yesterday, which by the end of the day were less than 3% of total value, to something like 'Black Monday' is just absurd. I mean what day was it when the TSX lost this amount in a single day two and half years ago? There was some market fallout, but as you can see by the graph below, there was only a small percentage difference by the end of the day from the Income Trust announcement and a whole lot of general market decline for the Stock Exchanges in the Americas.
Seriously, when it comes to the Blogging Tories, it's always fun to guess who's going to show up -- the original blogger or their evil twin, Skippy. I should start a pool.