Japan earthquake, day of rage, falling stock market, when do the locusts come out? Actually, I am suprised the futures are not down more, we are only down about 3 handles from the close after an earthquake in Japan, ahead of the day of rage, and European financial woes. If I was Alfred E. Neuman, I would feel quite comfortable.
I think we are close to a short term low, and would not be a seller today. Remember, the history of natural disasters is that they are quickly forgotten in the marketplace. This is the same situation no matter how much fear is brought up on the news networks. I would be buying any morning dips because we'll like shrug off these woes and traders will likely be staring at a gap up on Monday morning.
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