Why did it get so high? Bernake Bucks??
The Dow is overvalued, anyway. There is no recovery. A few events might cause this charade to unravel. A cascading effect if you will. The economy is nothing more than a house of cards and the stock market nothing more than a game of 3 card monty.
Interesting thing to me is that the Dow is now bucking the Euro. For the past year, it had floated with the Euro, for reasons I still don’t understand, but it seemed to be reliable. Today, the Euro was up $.009, about a penny, which is a moderate move, but the Dow was down about $100 most of the day before recovering to -50. Gee, how did that happen.
It is interesting how history sometimes rhymes.
If you’ve never seen the story of how Jesse Livermore made a killing by going short when the San Francisco quake happened, find it. It is an interesting story in light of recent events.
Why? There can’t be anything serious going on in the world. I just saw our leader golfing, yukking it up with his jourbalist buddies, eating $100/lb Wagyu steak w/lobster and partying like it’s 1999!! Surely he wouldn’t act that way in a crisis!
It's not about reality...it's about perception.
Glenn Beck was on the money again today.
NHK just had a live conference. Radiation levels as measured at the plant gate have now dropped dramatically to a level not harmful to humans.
Could the events in Japan be the catalyst for a world wide economic collapse as foretold by Stansberry & Associates Investment Research? I am sure many of my fellow Freepers have watched the video at the link below:
www.endofamerica46.com
I wonder what the world wide economic impact Japan’s earthquake will have in the months ahead?
Get ready to loot.
It’s going to be a very bumpy day on Wall Street. As of this posting, Japan’s Nikkei 225 closed down 10.55% (after losing 6% on Monday,) The Chinese SSE closed down almost 2%, and UK FTSE 100 is currently down 2.6%, and the German DAX is down 4.7%.
Look for the Dow to plunge on the open, the recover most of the losses during the day.
It doesn’t have to be the nuclear problem, its the entire State of Japan. Its a mess. Manufacturing is screwed for a few weeks at least. I mean, this is Japan. It is going to effect the world economic markets.