The smoke was everywhere on the Networks News shows this morning.

[ITAL]

11. Yeah, the 1987 crash was made up pretty fast

One, and even two day drops can just be noise. Really loud noise, but noise.

Even in 1929, the initial crash of October had a recovery. We learn of the Depression famously starting at those first to days dropping 25% or so, so Black Monday and Tuesday are what are remembered. That's only sort of true though. Things sort of stabilized within a couple of weeks. The bottom really didn't fall out until the months that followed. From April of 1930 to July of '32 the market lost something like 90% of its value.

If big drops continue past the next week or two, then we really will worry.