The Plunge Protction Team may be in business tomorrow, barring an attack, reducing or reversing the drop. There is a lot of momentum to the downside, but still many thinking that it is a good time to buy, and a lot on the short side who would cover rapidly, I think (let's find out who has been shorting this market). A positive tilt could bring us a sharp (bear market) recovery.
A second (third, forth?) attack tomorrow morning would take advantage of the huge negative momentum built up in the past three weeks, demonstrate that the US government has not done anything effective to deter the objectives and potentialities of the terrorists, and bring on political and economic chaos. Note that the slope of the DOW is very similar in September to that of the preceeding few weeks (10320 to 9605, 8/20 to 9/10; 9109 to 8019, 7/1 to 7/19).
If the planners believe that the market will continue to fall, as you think, they may wait for signs of a bottoming (Monday, 9/10 seemed to be a bottoming or reversal day). But weeks like last week, and days like Friday are rare, the odds are that this comming week will not be as bad, and may even be a reversal. We passed a technical trend line that could become a bounce, or a significant signal for a drop to 6500 or 5000 on the DOW.
All pure speculation, of course.
Peter Fisher..and his renouned band..Exchange Stabilization Fund with good ole "Easy Al" Greenspan on the drums..will have things well in hand...
What? you think..Money grows on trees? ..at least this kind does...crank up the presses.......HAHAHAHAHAHAHAHA
If there WERE an attack on the market their target would HAVE to be the computer programs that protect the system.... THAT way once the attack begins and the market plunges the government would not be able to regain control of the markets by employing the so-called circuit breakers.... thus allow the market to plummett even FURTHER!!!
To be honest My only thought is why SHOULDN'T the market collapse to the 3000 or evn 2500 point level.... given THAT we MIGHT find out who the real scondrel are in this market... and thus we can weed out the bad apples in this bunch....