Some very long-term landmarks are in sight. Right below Dow 7000, not 2% down from here, is a point at which half of the entire rise from the 1932 Depression low to the ultimate October 2007 high will have gone away. That's explainable given the low-double-digit Dow of '32, but losing half of 75 years worth of upside in 16 months is . . . quite something.
-Barron's Mike Santoli