This post originally appeared on RealMoney on April 28 at 9:10 a.m. EDT. To see Ron Insana's post's in real-time, you can click here to join RealMoney.The Mamas and the Papas thought, some four decades ago, that Mondays could not be trusted. They sang about how every other day of the week was fine (yeah), but not Monday. And we know why: The weekend was over. It was back to the grind, the salt mine, the office. But in this secular bear market, that all changed. In the last year, Sundays appear to be the riskiest day of the week, for Wall Street if not for Main Street. In the 25 years that I have participated in the financial markets, I can't recall a time that the "day of rest" was so fraught with risk.
Author's note: Who on God's green Earth thought it a good idea for the FAA and the Air Force to stage a photo-op with a blue-and-white 747 buzzing Manhattan skyscrapers while being "accompanied" by F-16 fighter jets? For those of us who survived the collapse of the twin towers, pulling a terrifying stunt like that without making it clear to Mayor Bloomberg, the residents of New York City and the media that the event was staged is not just thoughtless and crude, it also mocks the terror that all of us in New York and around the country suffered some seven and a half years ago. The terrorist attacks of Sept. 11, 2001, left an indelible image on all our hearts and minds. Those who evacuated the buildings of lower Manhattan on Monday deserved at least some notice that the terror they experienced in 2001 was not being repeated.
Know what you own: Insana mentions banks and homebuilders. Companies in these industries include Wells Fargo (WFC), U.S. Bancorp (USB), Hovnanian (HOV) and Pulte Homes (PHM).