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SPDR Dow Jones Industrial Average ETF Message Board

  • zencowboe zencowboe Nov 21, 2008 4:17 PM Flag

    Fool's rally like last Thursday?

    Last Thursday's impressive rally fizzled in the following days. I can't see how appointing Geithner all of sudden fixes:

    1] record unemployment level
    2] record foreclosures
    3] record company bankruptcies
    4] falling real-estate
    5] frozen credit market
    6] With fed rate at 1%, we're running out room to cut much more
    7] Europe today reported their economy is contracting quicker than forecasted.
    8] GS forecasted worse economic numbers for 2009 US gov. today.

    MMs are creating some room to take it down further in upcoming days. Usually I like to close out all my positions by day's end, but today I bought some put options at the close. Dow at 8048 have some room to fall.

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