As to the stock market, here’s the way I see it. By the end of last week, the market had become ripe for a powerful bounce. That bounce began yesterday, and continued today. The correction, which had the indexes down 14.5% at the bottom, was sharp, swift and accompanied by plenty of bad news, including a volcano (now two), a massive oil leak, continued high unemployment, a troubled euro zone, and more. All that is pretty normal for a correction. But what was unusual was the action of leading stocks, many of which simply refused to participate in the...
