Bloomberg had a story on about small investors being gun-shy about coming back in to US equities, and then we had today's news....
-- MF Global transfered out $200 million of restricted customer funds into its accounts at bank before it went under. The CEO earlier said he knew nothing about any improper transfers. An e-mail was released today, mentioning that the $200 million transfer was authorized by someone, coincidentally with the same initials as the CEO. Ooops.
--- Bloomberg said investors were not coming back to equities because of fear of flash crashes and high speed traders. As if to prove the point, Apple dropped 50 points in a flash crash, resulting in a trading halt on an electronic exchange.
--- And if that's not bad enough, the same electronic exchange that had the AAPL glitch canceled its own IPO today because of trading glitches, including its own IPO. Which opened at $16.00, then flash crashed to 3.8 cents then 0.02 Cents ( a value play right there.)
-- Not a stock, but I blinked and oil was up $3 then apparently back down again.
Okay, Mr & Mrs America, it's safe to put your retirement savings back in the market now.
Just my opinion
Suggested musical interlude for MF Global and Bats: "You've had a bad day," by Daniel Powter....With this line dedicated to the small retail investor: "They tell me your passion's gone away."