Greedy traders are worse than greedy associates

I saw that the stock market reacted fairly negatively to the rate cut. Everything is hunky dory and then, KABOOM.



Obviously a lot of people are upset. But give me a break. MSN has this as their lead quote: "Stocks tumble as investors see the central bank's interest-rate trim to 4.25% as way too small, putting the economy in danger of recession." Isn't this sort of sell-off more consistent with a mob mentality than actual reason? Who wants to bet that tomorrow's going to close a hundred points higher?

I guess this is the sort of thing I'm going to have to deal with on a more personal level next year (or as I'm sorting through boxes of papers dealing with such tumbles' aftermath. Fun stuff.

Tags: stock market drops