S&P "back where it was on Sept. 10"

[Jordan Hayes]

Ok, so the S&P 500 is back where it was before the attacks.

Does that mean:

1) The curent market is on crack?

   Clearly "something happened" over the last month

    - earnings are going to take a big hit

    - unemployment is skyrocketing

    - more than ever, people are convinced we're in a recession

2) The market was undervalued on 9/10?

Discuss?

/jordan