Reply #25: 1:30 - sideways at the bottom of the pond

[mrsteve]

No real rise seen since 10:30 climb off the day's lows -

Dow 9,535.13 -109.69 (-1.14%)
Nasdaq 1,876.28 -29.42 (-1.54%)
S&P 500 1,021.78 -14.53 (-1.40%)
10-Yr Bond 4.289% +0.127

Yahoo Finance Analysis:
"1:00PM: Market seems to be spinning its wheels in negative territory as investors' attention remains focused squarely on stocks' lofty P/E multiples... Journalists have cited the dollar's plummet in the aftermath of the G-7 conference, but the real story remains the heightened levels of the indices - all of which were around 52-week highs prior to today's action...
The beginning of the September preannouncement season, combined with what has been a seasonally weak period for stocks, has increased the tendency to sell...
As such, a round of upbeat economic commentary from Fed Governors Bernanke and Guynn has been dismissed..."

Ha! "...upbeat economic commentary from Fed Governors...has been dismissed". Welcome the real world, boys.