Market Stupidity

The big market decline today is a good example of market stupidity.  There is tremendous worry over corporate earnings, with Alcoa reporting after the close.  Now did anybody really expect Alcoa to post good earnings?  The fourth quarter was horrible, but I thought the market was all about looking to the future?  Is Alcoa going out of business?  I think not.  Will other big name companies be packing it in?  Probably not.  While I am not bullish, today's reaction is just makes no sense.

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