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.