Main Street Fear.

Our local news channel has set up a tel-a-thon where operators are standing by to discuss 401(k)'s, credit card debt, mortgages, etc. They even have a ticker running reporting on layoff numbers, plant closings, unemployment data, etc. Then they flash the daily market performance and talk about the extreme market volatility. While their intentions are good I think they are fueling the fear! I can only imagine the calls they are getting and what the subsequent advice is. Main Street negativity is peaking as indicated by massive Mutual Fund outflows. One positive sign for the market in my view.

Definetly fueling fear.