Monday, Sep 22, 2008
Can not blame the shorts now!
Yahoo: DOW Down 360
Explaination: You can blame it on shorts. Blame it on the rain and ban the world.
Till the time you fix the source problem it will fall. ie. House Price Bubble
Posted by deepak @ 08:57 PM (941 views) Add Comment
10 Comments
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1. paul said...
It's not down by much though is it. If it keeps going, well that's another story.
And I think it will.
2. layers said...
Closed out at -375, which is a fair bit. Personally it's the volatility in the market over the past 12 months which has been far more telling, akin to the final death throws of an organism. It also shows that even with the biggest financial intervention event in history which socialises ALL US Financial corp debt, the market is still dying. There's nothing that can now be done to improve the situation and we all know there's a sh*t load more bad events that will occur.
This truly is the 911 of the financial markets, and we all know how times have changed since that 'one day in September' - so think things are going to get better now that there's no money available?
Is America's destruction now assured? And what are the ramifications for the Globe over the coming years?
3. Teddy Bear said...
Maybe the should blame it on the boogie...
4. planning4acrash said...
Remember that the markets went up and down like a yo-yo prior to the Great Depression. Time to pile up with silver and gold.
5. plato said...
I'm thinking along exactly the same lines layers. Be interesting to know how many of the intuitive among us are thinking the same way. My feelings are that it would actually be 'denial' to argue against this observation.
6. last_days_of_disco said...
America has an enormous standing army, it is indeed something to ponder. They have to be fed, clothed, equipped.
7. sneaker said...
I know it's crazy ... but ... the bear market in stocks is ... OVER
the down-side has been illegalised
the upside is now enshrined
hyperinflation has been legislated
mis-allocation of resources has been embedded into our system
8. Stevie Dee said...
Oil up $25 dollars in one day.. to fund this plan..
9. Fingerbob69 said...
I think, hope, that what has just occured on the Dow/Nasdeq and the oil markets is the third nail in the coffin of the Poulson Plan. The first is the plan's own Article 8 which puts Poulson above and beyond the rule Law, in sole control of $1trillion of US taxpayers money. The second is Poulson's stated intent to pay ABOVE market value for the toxic waste of Wall St. He intends to give Wall St fat cats $700billion and call it 'Saving the World'. Small town USA ain't happy and the plan no longer has Mcain's or the Democrates' full support.
The question is if the Poulson Plan is so singularly obvious in it's failings what is Plan B?
10. wiltshire said...
It's pretty amazing isn't it? The DOW Jones "surged" on Friday after the US government announced the $700 billion bail out. The "surge" was a 3.3% increase. The next day's trading (today) and the market drops 3.27%. So the market has just shrugged at the prospect of the bail out. What can the Federal Reserve/US Government possibly bring to the table now?
I've no idea what this really means but can the US avoid another Great Depression? If it can't I cannot begin to imagine how bad things might get because the place is a powder keg at the best of times.