and he seems to forget that a mere drop of about 13 percent or so hardly qualifies as having even a us recession priced in, given the prior drop to about 12.00. of course the Fed could cut the discout rate to about zero, oh wait, they already did back when they dropped rates that were about 4 percent.
he also seems to forget that neither the DOW, nor the SPY at the May highs this year came close to the highs of October 2007.
but that's Wally, all is always alright with INTC, and zero trading skills.