Wow, look at this:
-BP capped the leak in the Gulf.
-The SEC to make a significant announcement (likely about Goldman Sachs).
-Fin Reform passes.
Stocks made up all of their losses on news of the above.
These are the salad days of summer, the days we will look back upon quarters from now, with a wistful mix of bittersweet nostalgia for our naivete and youth.
If only we knew now what we are going to know then . . .