Stock Market

[dalakhani]

Nasdaq opens at about 7% down.

This is going to be ugly.

[dalakhani]

Now the market jumps almost 1000 pts...for no reason.

They will be talking about these last two months for centuries.

[SCUDSBROTHER]

Originally Posted by dalakhani

Now the market jumps almost 1000 pts...for no reason.

They will be talking about these last two months for centuries.

Nothing happens for no reason.

[dalakhani]

Originally Posted by SCUDSBROTHER

Nothing happens for no reason.

Yeah, of course not. Everyone knows the fed is going to loosen another 50 bps and after the last couple of days, obviously there were some shorts to cover...and then come the lemmings and voila...bear market rally.

Its recession time.
Its just hard to figure if the market has adequately
assessed the recession severity. I think we go down more.
These job loses and companies closing are not tangible enough
yet.

[SCUDSBROTHER]

Originally Posted by dalakhani

Yeah, of course not. Everyone knows the fed is going to loosen another 50 bps and after the last couple of days, obviously there were some shorts to cover...and then come the lemmings and voila...bear market rally.

That's quite a rally. Election is a week away.

[-BT-]

rate cut tom. let's see how much the kick the sh!t out of it this week

and for the record, i wouldn't put too much faith in todays rally. Anyone remember what happened 2 weeks ago? highest ever 1 day gain, gone in 2 days

invest wisely all

-bt-

[MaTH716]

The swings this market makes is really amazing. But there is so much money on the sideline and once the market gets going in a direction (usually down latley with today being an exception) it is like a freight train. There is no liquidity/resistence so stocks run. I think today is an exception and we will go lower again. Things are still very crappy in the country.