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To: Bid Buster who wrote (376197)10/10/2008 3:54:45 PM
From: Terry Maloney  Respond to of 436258
 
Yep.

Whatever else, these are interesting times ...



To: Bid Buster who wrote (376197)10/10/2008 5:12:07 PM
From: Terry Maloney  Read Replies (2) | Respond to of 436258
 
Only 128 points in the end ... almost an up day. <g>

We didn't have any real capitulation, but I've got a feeling bears of all stripes could get reamed next week, after reading this ...

"But on Wednesday the British government, showing the kind of clear thinking that has been all too scarce on this side of the pond, announced a plan to provide banks with £50 billion in new capital — the equivalent, relative to the size of the economy, of a $500 billion program here — together with extensive guarantees for financial transactions between banks. And U.S. Treasury officials now say that they plan to do something similar, using the authority they didn’t want but Congress gave them anyway."
nytimes.com

If this is what 'world leaders' agree upon over the weekend, the markets will explode (along with our taxes, but the market wouldn't care about that at first). It would also explain why gold got whacked today. <g>