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View Full Version : Stock market down 215 today....



wgadget
03-04-2008, 01:48 PM
:confused::eek:
newbitech
03-04-2008, 01:50 PM
nah the PPT is going to kick in the last hour of trading. Gold and Oil sold off to fund it this time. The rope is thin.
robert4rp08
03-04-2008, 01:58 PM
nah the PPT is going to kick in the last hour of trading. Gold and Oil sold off to fund it this time. The rope is thin.

Is that why silver is down $.40?
newbitech
03-04-2008, 02:03 PM
Is that why silver is down $.40?

yeah lots of commodities sold off today. Its the big money stepping out and taking profit.

The spiral is getting tighter. It won't be long now. Watch the Asia markets this evening.
wgadget
03-04-2008, 02:14 PM
May have had something to do with Bernanke suggesting the banks lower the principal amount on certain defaulting home loans?

Wonder if I can get a discount too?
newbitech
03-04-2008, 02:22 PM
May have had something to do with Bernanke suggesting the banks lower the principal amount on certain defaulting home loans?

Wonder if I can get a discount too?

Helicopter Ben is stuck between a rock and another rock. Nothing he says can be viewed as a positive. Every time he or Whitehouse open their mouths, the market will sink lower.

The "catalyst" supposedly for the end of day buy backs from the lows of the day is apparently the CISCO CEO talking positive about long term growth. There was steep resistance at Dow 12200, which broke earlier in the day. What you are seeing with all these late day rallies is govt intervention. These are the shadow banks squeezing every last penny out of the Mutual Funds (401's IRA's) before the market goes belly up.

The noose is closing. I look for another emergency rate cut before March 18th meeting. Look for 50 basis in the emergency cut and a less panic worthy 25 basis at the March 18th meeting. Rates are going to 0% before the end of summer.

Don't be surprised if the feds start promoting actually paying people to take loans.
Cleaner44
03-04-2008, 02:25 PM
And my inverse funds go up, up, up...
newbitech
03-04-2008, 02:28 PM
Ah now AMBAC talk heats up again to bail these guys out by none other than Citigroup. Man this stuff is getting so transparent its ridiculous.
Sarge
03-04-2008, 02:40 PM
Citygroup might want to read the news today,

http://money.excite.com/jsp/nw/nwdt_rt_top.jsp?news_id=ap-d8v6pa2g2&

And they want to bail out AMBAC?

They might want to check with their middle east investor's, who sound like they are getting cold feet.

It is more insane each day.
LibertyBrews
03-04-2008, 02:45 PM
PPT to the rescue, hoorah.
BIG_J
03-04-2008, 02:47 PM
What the hell is with the chart today!? An hour left, and people start buying like crazy...SURE.
michaelwise
03-04-2008, 03:27 PM
Is that why silver is down $.40?All comodities sold off because of the unwinding of the Yen carry trade when the Yen fell below 103. Hedge funds getting huge margin calls must sell everything to meet margin calls, including their valuables such as gold, silver and oil. Thanks to the Plunge Protection Team, the market was rescued today. Can't have all the huge asset classes plunging at the same time, that spells Depression.