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Wednesday, October 15, 2008

OUCH!! Markets plunge 733 pts.


After Monday's historic 900+ rise in the market I told a friend of mine I smell a classix "dead cat bounce" happening. It seems after yesterday and today I might be right. We'll know in a few weeks. If the market keeps heading south then Monday's history making rise we'll be remembered as just that. If the market recovers and rises then it will be remembered as the pt. the market's stopping falling, this is known in market jargon as a reversal. I don't think we've seen the bottom of this mess yet. The coming recession is looking nastier and nastier with each passing day.

2 comments:

margo said...

Are you listening to this debate? Why does clean coal keep rearing its ugly, grungy head? There ain't no such animal!

I guess the clean coal people are really trying to reinvigorate what had been a dead or nearly dead deal. Guess they sniff possibility with the increasing demand and limited supply of oil. And now it seems that people, in all their infinite focus on the short-term, want an alternative now. Or maybe it's just the pols that do, because I don't know anyone anymore who doesn't see the consequences of continually relying on finite fossil fuels. It's as good as dancing with the devil.

Reinvesting in alternative energy sources, new technologies, and mass-transportation will help pull us out of this depression, I mean recession.

GlennK said...

Clean coal? It's an oxymoron.