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| Subject: Re: Greedspan is a great name for him . MOre on banks | |
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Author: jw |
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Date Posted: 18:39:01 03/18/08 Tue In reply to: Bev 's message, "Greedspan is a great name for him . MOre on banks" on 11:29:47 03/17/08 Mon This article appeared in some of the local papers today, tuesday. It looks like dick cheney's trip to saudi arabia produced some results, someone pumped up the stock market scandle today, even though the fed did not lower interest rates as much as wall $treet hoped. Naturally, oil and other commodities rose sharply again. There is a pattern of the fed pumping up the market, a huge one day rally, perhaps extending into the next day, then 4 days or more of falling stock prices, usually to new lows. This is not unusual, the greatest one day gains in stock prices occured between the 29' crash and the 1932 low. The current fluctuations are not that great by historical standards, even the stock market crash in the early part of this decade had greater one-day swings. What is quite unusual about this market pull back is that it is happening so early in the year. I dought today's pumping of the market will have traction, within a week we will be near or below the year's low which was set on monday. >I would post the article but the copy rights on this >one will not allow me to do so . > > > >href="http://www.cnbc.com/id/23671674">http://www.cnbc. >com/id/23671674 [ Next Thread | Previous Thread | Next Message | Previous Message ] |