Why do people keep saying the market has already priced in the bad news? We havnt even had the bad news yet and look what happened to the market when the Scottish bank announced its record low profits. They stripped 48% off it...Like i said in another thread, if that happens to every stock with a profit downgrade, you can take 30 - 50% off the dow over the next year. Look at how badly Leighton has been smashed? And why? Because they announced somthing that was "already priced in to the market"....yea right.
