A bad attempt at butchering Tennyson's famous quote
The famous quote from Tennyson is "'tis better to have loved and lost than never to have loved at all".
In markets, it's flipped.
The dip in equities early today followed by a big rally looked like a bottom, or at least a temporary one. The failure to hold onto a gain today after a long losing slide is more damaging to the market psychology than no bounce at all.
We're 1.2% from the highs and are in danger of equities falling into negative territory once again. The S&P 500 is up just 4 points at 3242 after rising as high as 3278.
