Don't know.
It would seem the world of investors doesn't think Armageddon is at hand. Perhaps the tens of millions of investors that make up the worlds stock markets,believe the problems, very significant problems I might add, are manageable, and that by this time next year, most of the economic problems will have been dealt with.
The roller coaster rides are surely not behind us for the next 8-12 months but if you are a long term investor, as I am, these big swings are nothing to be concerned about and, in fact, might just make good buying opportunities. I don't much care about tomorrows market gyrations because I truly believe that all these economic problems can be solved. Plus over the long haul, there are very few options to the stock market for rate of return.
Besides, I made a few good moves when the DOW was about 11,000 so I'm playing with "found" money. If it dips that low again, no loss to me. I'll just hang in there until the DOW hits 13,000 once again. When? My guess is by mid 2013.
Ed.
The optimist