posted on Oct, 15 2008 @ 11:47 PM
If there's no presidential speech or initiatives given before the US opens, im guess another major fall, 500+
People were worried last week, and pulled out.
When the government released details of the bank stock purchasing people grew some comfort thinking that would help.
Then the G7 released statements saying it was dealing with the issue, then people believed a fix would come, so they jumped in, being it was so low
and bought up.
Well, when it became apparent that confidence was rash, and the underlying faults hadnt been addressed people pulled back out this last 2 sessions.
It dropped pretty hard last night, 400pts in the last 50minutes.
Meaning that mentality will flow through to the opening today.
I think the people, and the government are going to realise that the fed has done all it can do, with what it has. And unfortunately they are going to
have to just let it fall until its hit its bottom.
im guessing 7400-7600 by Friday close.