Ugly day

While stocks are cheap if you take a 35 year view, 14x earnings is a fairly expensive P/E given that we're 10 years into a secular bear market and probably looking at another 5-10 years of it.

I have thought about buying more, but I am waiting for P/Es on oil stocks to dip to 3x earnings, reserves to sell for $4/barrel at $95 brent, and dividend yields to exceed the value of the annual trading volume. I feel like some of the ridiculously cheap prices are going to keep getting more ridiculous until it is physically impossible for them to keep doing so.

the central planners will ramp it close to flat by day's end. look for the move around 11:30EDT

ah uncle melvvvar never lets you down

Europe is irrelevant. Buy more.

How do you know this, Melvvvar? Market is approaching flat...

From my lame market psychology view point, it has to do with the people that get scared sell in the morning, and the rational thinkers start buying up deals as the day progresses.