Has the end of the rally arrived?
Reuters: Wall St falls on financials' weight; S&P off for Oct
"Those that had these huge gains may have a finger on the trigger, locking in some of those gains."
Friday, October 30, 2009
Drop
In the noon hour, the DOW is dropping fast, down 226 points. This is a larger drop than the gains made on Thursday after the 3rd quarter GDP numbers came out.
Has the end of the rally arrived?
Reuters: Wall St falls on financials' weight; S&P off for Oct
Has the end of the rally arrived?
Reuters: Wall St falls on financials' weight; S&P off for Oct
Subscribe to:
Post Comments (Atom)
3 comments:
Here's my take on what's starting to happen out here. The %3.5 rise in the GDP is being looked at in contrast to this weeks rapidly increasing new unemployment claims and it's dawning on many people out here that the powers to be are cooking the books again. the markets are trying to use our tax money and a whole new set of scams to reinflate things again! Why not? Did anyone go to jail or even get slapped for taking down the World's economy? NO, HELL NO! Instead, these same arrogant vultures and predators were REWARDED! So what's to STOP them from just doing it again? Tim Geitner? Obama? Larry Summers? NO WAY!
We know that Goldman is at the center of much of this activity. The GDP numbers were the first estimate, and I wouldn't be surprised if they are later on recalculated and found to be lower. That has happened in the past.
No one from that bunch will ever face anything for this recession.
We used to call it kiting the market.
Post a Comment