Bl: market is crazy!

http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aCgQ.Md6Xq7M

In October, the index rose or fell at least 3 percent 13 times, more than half of the 23 trading days during the month, including six moves of at least 5 percent. This month, the S&P 500 moved at least 3 percent on 10 of the 16 trading days, including eight moves of at least 5 percent.

Only November 1929 overshadowed October 2008 as the most volatile month for the index, according to S&P analyst Howard Silverblatt, citing moves of at least 1 percent on 86 percent of last month’s trading days.

Investors are paying $9.24 per dollar of operating profit forecast in 2009 for S&P 500 companies, half the two-decade median of $18.10, data compiled by Bloomberg show. Stock valuations suggest S&P 500 profits may decrease as much as 42 percent next year amid forecasts for the worst recession in more than two decades.