No doubt the media has continued to play into the global crisis melt down theory. These same people orchestrated the global warming nonsense about a year ago. I don't mind because the naive are pulling money out of quality stocks in expectation of the tide reaching India. I like bargain stocks and the media is helping to create more of them. I often wonder besides me who is pulling their strings? I'll make ridiculous comments so that the market reacts to them all the while I am doing the opposite financially. This is the power of my position of course.
Some American twit decided to pontificate on the global crisis and if it would affect India. His analysis is surprisingly sound and if it reaches India's shores could cost me some money. Fundamentally the India growth story can't be stopped. Sure if the pinheads in Delhi start moving us back into the Indian Financial Stone age we could end up in a wreck, but I don't think the politicos have the courage. They are also making too much money skimming off the top.
However, I venture the media will quickly create more maelstrom and thus more and more of the day traders will continue to sell. I have been screaming "bear market" - "bear market" for a month now and thus getting stocks at bargain prices. I won't be at Forbes #1062 for very long.