Posted on 06/09/2010 12:22:56 PM PDT by blam
Rally Fizzles, Bulls Blowing It In Final Hour Of The Day
Gregory White
Jun. 9, 2010, 3:02 PM
Update 3:15: Losses for BP (14 year low, according to CNBC) and Anadarko picking up as the day goes on:
BP down 15.05%
Anadarko down 9.86%
What was once a rally is now toast with all indices having moved significantly lower in the last few hours.
DOW up .09%
NASDAQ up 0.25%
S&P 500 up .08%
To give you a little perspective, here's the DOW showing the gains we've lost on the day:
[snip]
(Excerpt) Read more at businessinsider.com ...
Looks like the PPT snuck out for a long lunch today.
Ah, a demonstration of the “Obamaloon effect”.
Note: To demonstrate the Obamaloon effect, take an airplane and establish trimmed level flight at a selected altitude.
Shut off the engines.
Watch the altimeter.
That’s the “Obamaloon effect” which will happen anytime the Kenyan idiot comes close to anything requiring an operational brain. The loon is close to our economy - hence the effect.
The rumor that BP will skip the dividend has sent a shock into the price. The UK investors, mainly institutions are taking a huge hit. The UK Gov will also take a hit because they won’t pay out some 3B in dividends..no tax money.
The pronoucements of Chavez Hussein hasn’t helped. It will hurt in the long run if BP isn’t able to pay for clean up..if they loose the ability to borrow and they can’t sell more stock it won’t help the effort.
Yup... could be some job openings.
I was thinking this morning that the daily orders were to keep it above 10k...that ain't happening!
I’m thinking once this oil spill mess blows over it’ll be a great time to pick up some BP stock.
I’m poised and ready to buy. But I must be patient, and let it get worse and worse first.
Happy to see it. FCX needs to drop some more but I’m starting to drool a little.
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