Posted on 05/21/2010 6:57:36 AM PDT by Mad Dawgg
NEW YORK (Reuters) - Stocks fell at the open on Friday, extending Thursday's steep declines, as concerns over the euro-zone debt crisis and U.S. financial reform fractured investor confidence in risky assets
(Excerpt) Read more at finance.yahoo.com ...
Currently +20....
I’ll see your Bad Moon Rising and raise you a Black Friday:
When Black Friday comes
I’ll stand down by the door
And catch the grey men when they
Dive from the fourteenth floor
When Black Friday comes
I’ll collect everything I’m owed
And before my friends find out
I’ll be on the road
When Black Friday falls you know it’s got to be
Don’t let it fall on me
-Steely Dan
Starting to fall again....
176 million shares traded already....
This is definitely a Roller Coaster ride today, UP, DOWN, UP, DOWN...
Anyone know why the Nasdaq is getting pounded today?
Because the PPT can only manipulate one Index at a time...
AAPL seems to be up (delayed quote). Now there's value!
Its bouncing like Tigger on Steroids...
-8.01 right now.
Keynesianism never works.
....I expect the real proof of the pudding will happen in the 3-4pm hour...lots of trading programs kick in then.
p.s. thanks for the Credence video link...I’d forgotten how great they were.
We’ll see if it can hold above the Flash Crash level...and then there a few more points of resistance. it will be interesting either way.
Keynesianism never works...
it does when its consequences are what we see today. Neither does extortion as practiced by the robber barrons at multinational banks. The financial speculation engaged in by the major western banks has led the world to the brink of the abyss with worse yet to come.
The solution they propose is a world wide system of control...what they wanted in the first place.
The Federal Government is equally or more at fault than the financial institutions because the Communtiy Reinvestment Act started this ball rolling, Fannie Mae & Freddie Mac approved and bought any mortgages regardless of the applicants credit worthiness and the government kept pushing home ownership. Then they allowed the financial institutions to leverage 60 to 1, instead of the usual 12 to 1 — this is where the fianical took the ball and ran with it.
The government should never have loosened lending standards as much as they did and back-stopped every one of Fannie and Freddie loans.
AGREED!
We are dealing with the most corrupt political apparatus in history if one judges by the world wide effects of this debacle.
A good reminder of the origins of this perfect storm catastrophe.
I like the short and to the point explanation
1 hour to go till the start of your 3-4PM time slot. Up 80 on the Dow right now and up 25 on NASDAQ.
Gold is down under 1180 BTW.
Here is hoping we hold at this level.
Good Luck all!
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