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Traders really need this weekend after stocks swung in a 1,000 point range on the Dow Jones Industrial Average. The stock market fell 696 points in the first 15 minutes but managed to recover and even trade above the open. At the end of the day, the market closed down 128 points, to 8,451. Nasdaq ended slightly up, +0.27%, while the S&P 500 ended -1.18% down.
Knight Equity Trading's Peter Kenny told CNBC, "We're seeing asset classes across the board being sold--commodities, energy, equities, bonds, you name it. Everything is being sold. That's a sure sign that we're reaching some sort of tipping point in the market and market psychology." Some banking stocks--Wachovia, JP Morgan Chase, Wells Fargo and Citigroup--were up as were GE (profit was in line with market expectations), Apple and eBay.
More: Bloomberg News reports that the S&P 500 "capped its worst week since 1933 and the Dow since 1914," Treasury Secretary Henry Pauslon looks like he is going to inject capital in banks, and Dealbreaker considers Warren Buffett's $5 billion investment in Goldman Sachs ("Remember when the mainstream media was fawning over the multi-millions Warren Buffett had made in 48 hours with his investment in Goldman Sachs?").
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And now all these greedy wall St. types are degenerating into 'bottom testers'. Isn't that some kind of illicit activity?
Will there be trading on Columbus Day?
Some countries overseas, like Russia, actually closed their markets to avoid panic trade off. The Dow could use a day off, while the "G7" gathers their thoughts.
Plunge Protection Team (PPT) obviously stepped in at 3PM to avert another final hour sell off. That is as clear as that chart.
Iceland, Ukraine, Kazakhstan and Argentina are all in serious financial trouble.
They are defining the new "poor". They will not loose in the end. You will. For years we will be talking about the "crash of 2008". What bullshit. They did this. Not you. You will be the losers. Not them. Something wrong with the picture.
Apple will be introducing their new laptops next week. There is a rumor of an $800 laptop being offered. The funny thing is, none of the other Apple laptops should cost more than $800.
^
Glad someone mention how overprice apple computers are. You can get the same or even better specs on a Windows laptop for half what you pay for apple.
Apple is good for mp3 players and the iphone, but when it comes to computers Microsoft blows them away.
But then you have to put up with Windows.
I'm a PC and my mouse is not missing any buttons.
[8] Worse, you have to put up with Microsoft. Good, old Microsoft and their "We won't let you pre-install XP on your computers after this date. Wait, did we say this date? We meant six months later. Well, okay, if you'll stop screaming, we'll give you another six months after that." Go ahead. Keep your cheap Windows crap. You get what you pay for. Apple's market share is increasing steadily despite the naysayers who've probably never laid hands on a Mac. "Microsoft blows them away"? Nope. Microsoft blows, period. Enjoy your Vista security warnings.