Wednesday, July 16, 2008

NEW RULE

Nervousness is incessant.

On Monday morning, Washington Mutual was worth $5.13/share. On Monday afternoon, Washington Mutual was worth $3.23/share. The rationale? Investors fear an IndyMac mirror. Washington Mutual’s essentials are irrelevant. Investors are anxious. They will remain anxious. Unless the market ascends.

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