Monday, April 19, 2010

Reverse Course

Notice that the DOW did an amazing about face today. Futures were down 140 to 150 points and the DOW closed 70+ points above Friday's close. That's quite a swing in one day. This is unusual to say the least.

Reuters is reporting a similarly amazing reasoning for the change based on how the SEC determined to bring a case against Goldman. The vote was 3-2 along party lines. Every single America should know this fact especially Tea Party folk. The idea here is that it was not a 100% determined case and so that is cause for optimism.

Even as a light observer here, the jadedness is astounding.

Reuters: Market lifted by profit hopes, Goldman jitters ease
Market watchers attributed some of the strength in the market to a Bloomberg report that the U.S. Securities and Exchange Commission had split 3-2 along party lines to approve an enforcement case against Goldman Sachs, citing two people with knowledge of the vote.


"The fact that the vote was close has been the proximate cause for the stock's rally. This means it wasn't a clear cut decision by the SEC..."

3 comments:

Glynn Kalara said...

The Big Banks and Brokerages are run by criminals. They make they're money the old fashioned way..they steal it.

Jim Sande said...

They are stealing it from you and me as you know. The middle class is the place to establish swindles to steal money and direct it to the wealthy. We see the middle class as people, they see a pig roast.

Glynn Kalara said...

LOL!! So were just cattle are we? I guess they don't call us the sheeple for nothing do they?