Good, a double Bottom... That is a good sign.
On Sep 9, 4:44 pm, Frank <[EMAIL PROTECTED]> wrote: > US stocks plunged overnight and the Standard & Poor's 500 came within > 10 points of its bear-market closing low. > > Capital-shortage worries shifted from Fannie Mae and Freddie Mac to > financial firms without government guarantees, such as Washington > Mutual and Lehman Brothers, the latter falling to its lowest closing > price in nearly a decade. > > At the same time, commodities prices continued to decline. > > One trader dubbed Monday's action on Wall Street “a great bull trap” > because the bounce may have seduced buyers. > > The broad Standard & Poor's 500 plunged 43.28 points, or 3.41 per > cent, to 1224.51, its lowest close since the 1215-finish on July 15 > and its biggest percentage drop since February 27 last year. > > The Dow Jones Industrial Average fell 280.01 points (2.43 per cent) to > 11230.73, giving back all but nine points of its Monday gains. The > technology-oriented Nasdaq Composite fell 59.95 (2.64 per cent) to > 2209.81. > > Since computer giant Dell raised concerns about technology spending in > parts of Europe and Asia about two weeks ago, tech stocks have felt > the claw of a bear market. > > Lehman Brothers dropped 45 per cent to its lowest close since October > 14, 1998, its biggest percentage drop ever. > > The plunge reflected fears about its ability to raise capital. > Standard & Poor's placed Lehman's credit, including short-term > counterparty ratings, on “CreditWatch with negative implications”. > Nevertheless, S&P views the firm's short-term liquidity as > “satisfactory”. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
