Stock market blues are so last week

Remember the media panic and hyperventilating over the big stock market declines last week? Everyone was convinced that we were staring into the abyss. "The uncertainty surrounding the stock market's volatility has penetrated our psyches, causing many to feel antsy and disheartened. ... it can create a psychological maelstrom," USA Today reported, its pulse racing. Oh the humanity! And Obama of course was now totally screwed for 2012, this time for real, the pundits declared. After all, it's totally all his fault. As of the market close yesterday, here's the straight dope: The Dow Jones Index is up 213.88 points, or 1.90%, to 11482.90. Moreover, it's been up three consecutive trading days. Up 762.96 points, or 7.12%, over the three-day session. Up 7.12% from its 2011 closing low of 10719.94 on August 10. And it rose 11.46% from 52 weeks ago. In other words, last week was a great time to buy stocks at the market bottom (and trust me, the "smart money" did). So how come the media isn't popping champagne over the turnaround? Why aren't they bombarding us anew with all those breathless "breaking news" spots like they did last week? Oh, I forgot. It if doesn't bleed, it doesn't lead. Because bad news is our name and calamity is our game. No wonder America is close to a nervous breakdown.