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Originally posted by JIMC5499
[Looks like someone beat you to it. Only down 15 at 4:20 EST. One thing that needs to be remembered here. This doesn't mean that money has disappeared, it just means that it has flowed someplace else. For every loss, someplace else there is a gain. I can remember when the DOW was under 500 and I'm only 42. The people who get hurt are the people out to try to make a quick buck. Long term investors look at this like hitting a pot hole.
Originally posted by Escrotumus
There really was no reason for people to start buying back with that much ferocity with only 30 minutes left until closing. Today's last 30 minutes just doesn't make sense....
Originally posted by marg6043
Countrywide got 11.5 billion dollars transfusion to help with their loses.
That happen at the last minute, it could have been done in purpose to help the closing.
Occurs I wonder how much this will help.
Originally posted by JIMC5499
I don't call Countrywide using it's line of credit, getting a transfusion.
There is a reason why they have that line of credit. It is like me paying $20.00 per month so that I don't have to worry about bouncing a check.
Originally posted by an0maly33
i actually read somewhere that the chinese specifically stated they had no intention of screwing us over. (at least not yet)
hopefully this is just a fluke, but do what you can to prepare just in case this does blow up on us.
"What' they're clearly saying is there is a temporary financial issue that requires a temporary move," said David Kelly, economic adviser for Putnam Investments. "This will be very positive for markets. It is a sign the Fed is taking concrete action to address the problems."
Treasury prices turned lower after an initial surge, with the yield rising to 4.67 percent from the 4.65 level reached late Thursday.
The move comes as a meltdown in credit markets had caused severe declines in U.S. stocks and the Fed said in its statement had started to threaten economic growth.
After the major U.S. gauges reached a point Thursday that marked a 10 percent decline from their 2007 highs - signaling a market correction - stocks made a dramatic recovery. The Dow and Nasdaq erased most of their losses to end the session only slightly lower, while the S&P managed a narrow gain.