Saturday, Oct 11, 2008
The hair-trigger mentality of the market was evident from the opening bell.
SOTT for Assoc Press: U.S. Stocks end worst week mixed after wild session
NEW YORK - Wall Street capped its worst week ever with a wild session Friday that left stocks with a widely mixed finish. Late-day buying helped curb steep losses and gave the market its best showing of the week as investors snapped up bargains among stocks devastated by seven days of massive losses.
The Nasdaq composite index finished with a modest gain, while the Dow Jones industrials lost 128 points, a relatively mild drop after the blue chips fell 2,271 during the previous eight trading days. Still, the Dow, which traded in a range of 1,019 points Friday, had its worst week ever, as did the Standard & Poor's 500 index.
"Fear has been running rampant all over the Street. Fear and greed, that's what rules the Street. I think the carcass has been stripped to the bone,"
7 Comments
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1. renting2 said...
How much of this was triggered by automated computer herding?
2. plato said...
malct......... You have infinite energy.......
On subject : Funny how - 128 (YTD%Change: -36.29% ) appears as a 'mild drop' It's actually around 1.5% on the day which wouldn't give you that many days to zero....... Now their's a thought!
3. Emily said...
No coincidence that all this volatility has occurred immediately after the short selling ban.
4. Enough Already said...
Can somebody tell me why the dollar is still rising? The US is clearly sick - why is the currency that represents that nation so robust?
5. malct said...
hi plato - things in the real world are not always as they appear to be in the digital world
but you know that
kindness
malc
ps just got back from a family day get together mrs malct, three daughters and sons inlaw, three grandsons and two granddaughters.
what I lack in energy and motivation is compensated by my passion for integrity and defiance towards those who make use of us.
Yesterday, nay, all last week, was something else. What now?
hope you pick up on this.
6. plato said...
malct....
I'm in another world out here....... can't say I'm enthralled by it,but it's pretty insulated from the woes of the big world. You know this very morning I was speajking to an English lady on holiday here and she was in complete and utter denial combined with a great ignorance of the current situation and a lot else I should imagine. She even thought her house had maintained her wealth because she isn't selling!
Astounding --. when I see this I can only imagine what a gigantic task you have taken upon yourself. Are such efforts deserved?
I think not when I see these individuals-- they are truly past help.
Anyway hope you had a great day. My family are all in England except my Mum who I'm over here for.
Emailed titanicc' today so has my email you are welcome to obtain it just show him this.
Getting quiet now on HPC -- charging up for next week's tidal waves. Cheers.
7. malct said...
plato - good to hear from another human
just seen your recent post - will move up there.
hope TC's get together doesn't involve three two many people