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New Feds intervene in US market as US market continues drop
[link|http://money.cnn.com/2007/08/10/markets/markets_1030/index.htm?postversion=2007081011|CNN Money]
The Dow Jones industrial average (down 151.85 to 13,118.83, Charts) fell 81 points about 100 minutes into the session, after slumping 387 points on the previous day, its second biggest one-day point and percentage decline of the year.

The Dow was down over 200 points, its lows for the morning, just before the Fed's announcement.

The market was down sharply again, causing the Feds to intervene in the US market. This has brought the market back some and it continues to rise.

Jay
New the feds need to leave it alone
it needs to get down about 11k to unbubble
thanx,
bill
Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep

reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
New Very true
The Feds do need to draw a careful line here between not flooding the market with credit and not allowing it to crash. But they do need to let the market unwind, or the problem will just continue to fester.

Jay
New Some "circuit breakers" that kick in if things fall too much
In olden times I don't think they'd even call this a "correction". That used to be a -10% move in a major index. The [link|http://finance.google.com/finance?cid=626307|S&P500] is still above where it was in March. It's only 6% down from the all-time high on July 13.

It might get much worse, but at the moment it just looks like the market is volatile. People who buy-and-hold should ignore it.

Cheers,
Scott.
New thank you oh fed, for the inflation we are about to receive
Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep

reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
     Dow and global markets plunge - (JayMehaffey) - (9)
         Banks intervene to prop up credit markets - (JayMehaffey) - (1)
             Yeah, and the only stock I have going up . . . - (Andrew Grygus)
         Feds intervene in US market as US market continues drop - (JayMehaffey) - (4)
             the feds need to leave it alone - (boxley) - (2)
                 Very true - (JayMehaffey) - (1)
                     Some "circuit breakers" that kick in if things fall too much - (Another Scott)
             thank you oh fed, for the inflation we are about to receive -NT - (boxley)
         Second order effects begin to roll in - (JayMehaffey) - (1)
             there is a reason chavez is trying to lock in $50 long term - (boxley)

Taxes.
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