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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Secret_Agent_Man who wrote (353085)1/10/2008 4:45:48 PM
From: Secret_Agent_Man  Read Replies (2) of 436258
 
The worse the news gets, the more the DOW makes like a rocket when it is down for the count. The DOW was due sharply lower this morning due to stinky US retail sales numbers.Then, it rallied sharply due to rumors of a Fed rate cut, fell apart again, only to go up almost 200 points on word Bank of America was going to bail out Countrywide.
The DOW finished up 118 to 12,853 and the DOG gained 14 to 2448.

It's nuts. Planet Wall Street bulls have pointing to the US jobs numbers and vibrant consumer to keep their party going. Yet both are quickly deteriorating. The only thing moving this market to any degree is the PPT, who attracts the momentum crowd. One big Dog and Pony show.

The news is BAD. The only fix is more and more bailouts and a dramatic cut in interest rates which will kill the dollar and fuel inflation
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