Friday, October 3, 2008

Stock Market Follies for Today

We're 10 minutes out from the closing bell at Wall Street and it's down 130 points. What is going on?

On Monday, the House rejects a bailout bill, DJI drops nearly 800 points. Tuesday it gets most of them back. Wednesday, break-even. Yesterday, 350-point drop. Today it was rallying, but then the House approves a bailout bill, and then the DJI plummets again. It's been two hours and we've gone from a near 300-point rally to a now 150-point drop. Fut the wuck?

Damned if you do, damned if you don't. Although my money (so to speak) was on a 500-point drop for the day because I assumed that the House would reject the bill again. Shows how good I am at predictions.

Damn, though. What a week.

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