A most unusual day. Lots of testimony on the Hill providing all sorts of headline cross currents. Bottom line: there is no bottom to the amount of money both the Fed and Treasury are prepared to throw at the problem. The last few minutes turned …
Month: March 2009
Am I nuts feeling sorry for Bernanke while he gets grilled by the Senators? Leave it to our US Senate to make the Fed Chairman a sympathetic figure. These pompous bozos think they are asking the tough questions but they are only grandstanding. Do you …
Links
I find this guy unsympathetic. Despite his loss. Hank Greenberg: I’ve Lost $2 Billion In AIG’s Collapse Our greatest investor may not be. Buffett’s Stock Picks Are Flat! If the world’s greatest car company can’t cut it how can GM? Toyota workers face 3-day week …
Pre-market futures are up as fear and despair are replaced with momentary avarice. Whether we get a couple of hours or a couple of days of green remains to be seen. Given recent market days one would expect reality to set in with traders taking …
That was close……
The market was down from the opening bell but by noon it was stuck at S&P 704–708. Rally attempts were made all day but especially at 2:40pm and 3:40pm. Many were waiting and watching for 700 to be broken; next stop 687 or another 200 …
On the Cusp
The averages have remained in a narrow band for the last two hours. The Dow is down 240 to 6823 or 3.5%. The S&P is down 29 or 4% to 706. Should it break 700 in a decisive way we could have a hellish afternoon. …
Averages off their lows as S&P comes dangerously close to 700 at 708, off 3.5%. Could we get a bounce at 700? Oil off a whopping 10%. GE under $8/share. Tech made a run of it earlier but was overwhelmed. Sold my TWM inverse ETF …
World markets are all down 3%-4%. The Dow was off more than 150 points earlier; if it were to open now it would be down about 130 points. That would give the Dow a six handle and a significant psychological barrier broken. The latest saga …