I guess its a good thing we are closed today because it gives us a chance to relax ahead of what promises to be a lovely day tomorrow. 3 to 5% drops across the board. Dow futures down nearly 400 pts...S&P futures down 50 points. FYI US stocks are trading in Europe. Exxon is down 4 dollars to 81 and change as oil also implodes. GE is down 1. Google down 25. IBM down 2.60. Colgate down . etc etc etc. The good news is finally, finally we are going to get a panic down open to scare the shit of everybody and flush this thing out once and for all. A friend of mine who is big on "Gann" technicals said that 1250 is the inflection point. So if panic is coming...MLPS will be getting thrown out the window as well. If you have Bloomberg TV you can see the prices on the crawl.
On the other hand the Giants won!!!!!!!!!
joseph cioffi's Source Page - Associated Content
3 comments:
Bad news from Bank of America and Wachovia, both of which report 4Q results before the market opens on Tuesday, could create the perfect storm.
Continued downgrades of the monoline bond insurers could add even more fuel to the fire.
On the other hand, a rate reduction from the Fed before Tuesday's open--perhaps coordinated with similar moves in Japan and/or Europe--is not out of the question.
Should be "interesting" either way.
Bruce (armed with Alka-Seltzer)
looking pretty bad out there fellas. It was nice knowing everyone.
I own tons of Bank of America and Wachovia. I would like to see the Fed rate cut to -27.5%.
- Roulette
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