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	Name:	water_watcher -
	Subject:	Closing the markets
	Date:	9/30/2008 6:57:32 PM

The gain today was partly on hope that it will pass and partly on short covering. The market is definitely oversold if this does pass. It does look like this will drive us in to recession ... but we are not in one yet. Someone commented on the statement that the economy is fundenmentally sound .... it is. Historically speaking we still have good manufacturing and consumer activity and have not had a quarter of negative growth. What is dire now is the credit situation that will ripple in to everyday life of individuals whether you plan on borrowing or not. If companies can not borrow their businesses will start to fail, they will lay people off, less people consuming, less production needed, etc.

This is needed to prevent more bank failures and create liquidity.

Just so you know ... the DOW futures are already down over 50 points right now. So at this point it does not look like we will get a follow through tomorrow. We probably can only hope to move sideways until the next vote.

But I believe if this fails a second time, you could see a 1,500 to 2,000 point decline this time.

Other messages in this thread:

View Entire Thread

Let's be Honest - GoneFishin - 9/30/2008 10:18:21 AM

Let's be Honest - AUCATZ - 9/30/2008 10:29:02 AM

GoneFishin - wix - 9/30/2008 11:05:14 AM

Sigh..... - MartiniMan - 9/30/2008 11:17:58 AM

Sigh..... - GoneFishin - 9/30/2008 12:29:18 PM

So what you are saying - MartiniMan - 9/30/2008 1:13:44 PM

So what you are saying - muddauber - 9/30/2008 3:36:44 PM

Closing the markets - MartiniMan - 9/30/2008 4:44:16 PM

Closing the markets - water_watcher - 9/30/2008 6:57:32 PM

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