posted on Jan, 30 2009 @ 04:51 AM
Knock . . . knock . . . knock . . .
Can I come in?
I haven't been here for some time . . . What? Yes dry, no olives please.
Sure I remember, but that's not coming anytime soon. The traders learned tricks; losing money is not what trading is all about. Time has changed:
These days, the Dow gains some 200 points because of banks, and the next day, it loses 200 points because of banks. No, I'm not kidding; check it
Stocks Snap Winning Streak as Banks Retreat
The profit-taking eclipsed some good news out of the Capitol: The House passed the stimulus bill, handing President Barack Obama the first major
legislative victory of his tenure. And government officials have discussed pouring a further $1 trillion to $2 trillion to help backstop the banking
system, the Wall Street Journal said, citing people familiar with the matter. And the Federal Reserve signaled it would keep interest rates near zero
for quite “some time” and would continue to use unconventional tools to battle the fallout.
But investors were done with cheering the stimulus, having bought on the run-up. Today, it was sell on the news.
Well, thanks for the martini. Gotta go.