Doug, I would argue that this sort of insanity is proof that the financial crisis continues no matter what the Down-Jones is at.
It reminds me very much of what I used to see at Monticello Raceway in the 1970s when I would accompany my odd couple friend Eli Moskowitz, who was heavy into gambling and massage parlors. At the start of each race, you'd see the tote boards going up and down. "Lord Sammy" would start at 8 to 1, then go down to 5 to 1, then back up to 11 to 1. You'd also see the amount of money that had been put on each horse, which would help you make a betting decision. At the very last minute, Eli would go to the window and bet a couple of hundred dollars. He would also check the racing sheet carefully to see how Lord Sammy did in his last few races. He'd also make a decision based on an entirely non-statistical basis. For example, if he saw that there was a horse with a name similar to an old girl-friend, he was just as likely to place his money on that one.
Louis Proyect
(http://www.panix.com/~lnp3/marxism.html)