Going D - O - W - N!!!.....................
Posted on 07/21/2010 11:24:11 AM PDT by b4its2late
NEW YORK July 21 (Reuters) - U.S. stocks fell further on Wednesday after Federal Reserve Chairman Ben Bernanke expressed concernes about the U.S. economy, saying it faces "unusually uncertain" prospects.
The Dow Jones industrial average .DJI fell 36.55 points, or 0.36 percent, to 10,193.41.
(Excerpt) Read more at reuters.com ...
Unexpectedly....
Today is all about DOW 10,200. Above that number good times for August. Below, bad times and possible revisit of 6,500. Which will it be?
Always unexpectedly.
It’s down 99 points right now...
Going D - O - W - N!!!.....................
My guess is the big houses just got to read what Obama signed today and found some stuff they are not too happy about hidden in there.
This must be what Ohbummer wants. anti-Prosperity. U Dens just suk thats all.
Don’t worry, the economy is in the hands of Bernanke, Geithner and Obama...............
Hmm. The British way of spelling that word?
I happened to catch the signing of the bill today while in line at my bank. Seeing Barney Franks and Chris Dodd standing there together with huge smiles while Reid and Co. with Obama and Plugs heaped praise on those two made me physically ill, I had to stop watching.
>> Above that number good times for August. Below, bad times and possible revisit of 6,500.
How did you pick 10,200 as a threshold?
It’s gonna get worse before it get s any better.............MUCHO WORSE................
I know, I saw that. But it is Al Reuters.....
Me too..
Dow down 112 now.
>> Going D - O - W - N!!!.....................
Let me guess: Bernanke opened his mouth (and spake unto them) at 2PM EST?
I hear you. Glad I didn’t see it nor will I see reruns. No news for me tonight.
B I N G O !....................
I liked him better in the helicopter!
If the market isn’t able to break resistance soon we will see it go lower. The technical picture doesn’t look good at all and this setback isn’t helping any. Too much uncertainty and our dear leader doesn’t appear to give a rahm about anything but yoking us with more gubmint control.
Buoy o buoy,
a real tough dilemma.
Such a tough formula.
People don’t have jobs, don’t want to spend money for lack of trust in the future.
Small business, doesn’t want to create jobs when the people don’t want to spend money, and the businesses don’t want to spend out of savings of borrow, for lack of trust in the future and the current leadership.
All under threat of redistribution....
And now Bernanke come up with this about a marxist Leader’s economy???
Worst part of it is Bameo is tinkering with the world and if he continues, he will suck the world into the greatest calamity ever seen.
50 day moving average. We have been making lower lows combined with lower highs since the May melt down. We have not put in a recognizable bottom from the May fall. With this, odds favor going lower, not higher. Also, note the skitishness of the market for the past 2 weeks.
DJI is obviously racist....
Thanks to the Obama cabal and all the uncertainty they've introduced into the economy, uncertainty which is going to turn to ruin...and all done with Dems slapping each other on the back.
He said today the future for the economy is "unusually uncertain" which is why the DOW is down and likely will go down tomorrow as well.
I'm sure Obama wanted better language than that from Bernanke on the day the Won signed the finance bill.
I believe you’ve hit the nail squarely on the head, Gasser. The majority of the “uncertainty” stems from the fact that “Dear [marxist] Leader” is dictating economic policy yet he hasn’t got a clue and couldn’t care less about the effect on the people.
thx
Dow down 141...and falling.
Bernanke did say a lot of truth today in his testimony. In an answer about why banks weren’t lending to small biz, he said exactly what banksters have been telling me: The regulators are overdoing it and not allowing banks to take any risks. Add to this that bankers tell me that a lot of people with great credit don’t care to borrow right now due to uncertainty over what Obama and the Dems will do next to kill biz.
He also said the large deficits were OK short-term due to the fiscal crisis but unsustainable long term. The Dems were grinning as they will use that testimony to push tax increases.
Bear with me as I go out on a limb. I submit: We are in the present condition due to the fact that we have been UNDERTAXED for about 50 years.
If you have caught your breath I will now explain. If we had been taxed enough all along to stay fiscally strong (low deficits), we would long ago have voted out the politicians pushing the free lunch of low taxes and big spending goodies. Americans would have rebelled against the level of taxation required to actually pay for all these idiotic utopian programs.
Everybody loves a free lunch. Too bad there is no such thing.
Bear with me as I go out on a limb. I submit: We are in the present condition due to the fact that we have been UNDERTAXED for about 50 years.
If you have caught your breath I will now explain. If we had been taxed enough all along to stay fiscally strong (low deficits),
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Let me go out on a limb ,, lets say your wife has put you in Bankruptcy AGAIN ,, just like a few years ago ,, buying diamond trinkets on a store card , buying clothes she wears once (if ever) and generally ignoring your pleas to stop the insanity while she berates you to make more money ... “....the problem is you don’t make enough money!!”
Is the problem really that you don’t make enough money?
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