Not yet even a third of the way through, August is already the most volatile month for stocks in over a year, now on track to have the most big daily point swings since late-2008 when, for a couple of months, 200+ point moves were the rule, not the exception.
The period of last August until two months ago – when QE2 was either anticipated or underway – was a veritable walk in the park compared to what came before and after it, all the more reason for the Fed to crank up the printing press sooner rather than later.
