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Plunge Protection Team sets a new line in the sand: 9750.

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endarkenment Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:09 PM
Original message
Plunge Protection Team sets a new line in the sand: 9750.

When will the feds fess up and admit that they are gaming the market? Where will they draw the next line?

Their free market fundamentalism is bullshit for us to be hornswoggled with. Clearly they don't believe any of it.
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MadrasT Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:11 PM
Response to Original message
1. We already went below that once today...
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panAmerican Donating Member (864 posts) Send PM | Profile | Ignore Mon Oct-06-08 12:14 PM
Response to Reply #1
3. That's right; the intraday low of 9738 means a 31% drop in the past 52 weeks
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Selatius Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:13 PM
Response to Original message
2. The DJIA is barely above that mark at this point in time.
The brief rally just after 11 pulled the Dow away from that threshold, but it is slowly sinking back to that line once again.
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Hydra Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:17 PM
Response to Original message
4. 9788 Right now
And I expect it will close lower.

I wonder if they'll start talking about Bailout 2.0 this evening or tomorrow.
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:40 PM
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5. 9779............free fall
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:51 PM
Response to Reply #5
6. 9737 and still sinking
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:57 PM
Response to Original message
7. Below that now. 9736
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 01:37 PM
Response to Reply #7
9. 9621..........so much for plunge protection team. 693.73 pts.
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endarkenment Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 01:37 PM
Response to Original message
8. A new line is being drawn right now.
The inrush of emergency cash from the feds FAILED and the market is blowing though their line.
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 01:50 PM
Response to Reply #8
10. 9562......going for a tie 761.pts
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