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There was a smaller drop yesterday.  Both of those drops have pretty much erased any Monday gains.  Thus, we are about back where we were last week.  Not really a surprise, because even positive volatility is still volatility.  And the market hates volatility.

 

8,577.91  -733.08 -7.87%

Previous Close 9,310.99 Volume 374.35 Mil
Open 9,301.91 52 Week High 14,118.52
Day's High 9,308.76 52 Week Low 7,882.51
Day's Low 8,530.12


We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls.  The only thing that really worried me was the ether.  There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke

It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...."  Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson