Looks like this Greece thing is blowing up the financial systems. Not sure euro can handle it. Today's market activity is a little troublesome. Any time there's a precipitous drop like that it means that people are scrambling for the door, not running valuations. Reminds me of August 2007, when all of a sudden and without warning, the market just spontaneously dropped.
I guess we've had easy money for a while, so that's to be expected. Even though the market did bounce back up (perhaps from short covering), these types of drops are not momentary. They signal a fundamental weakness in the confidence of investors, and possibly foreshadow a lack of liquidity (everyone cashing out no matter what the price).
Would not be surprised if we head downhill for a while.
Scary stuff!
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