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Monday, September 29, 2008

Look out below

As I write this (1:45EST) the Nasdaq is down over 6%. The Dow is down almost 5%, the S&P is down almost 6%.

I don't have anything valuable to add, I am just amazed. I made some money off a few shorts this morning, but am flat as of now.

The bill did not pass, and politicians are scrambling to try and get members to change their votes from "nay" to "yea".

Update - it is official, the bill was voted down. The market is re-testing the lows. I am just a spectator at this point. Hell, we could close positive but this is truly bizarre to watch...Nasdaq is down almost 7%.

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4 comments:

Bill G. said...

Crazy, but I call a double bottom in the Nas right here. 2:15. Mark it!

Bill G. said...

Scratch that. So much for me calling bottoms.

R.J. said...

Wow - we may finish down 10%

Terrance said...

A lot of blood out there. I think we are primed for a bounce tomorrow.