10962.54: Lowest Dow Close Since July 2006

Tuesday, July 15, 2008 | 09:00 PM

Well, that was interesting.

Today had something for everyone -- or perhaps nothing for anyone is more accurate?

• Volatility returned in force (Finally!) today, with the VIX climbing over 30.

• Fannie (FNM) and Freddie (FRE)  fell more than 25% each, as the bailout plan makes it clear that shareholders are not going to be rewarded for showing such bad judgment as to own this crap. They closed at  $7.07 and $5.26 respectively -- possibly on the way to zero.

So, what happens next? Where does this market take us on its wild ride?

What say ye?





Tuesday, July 15, 2008 | 09:00 PM | Permalink | Comments (45) | TrackBack (0)
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Wouldn't agree. It looked to me like another failed rally attempt and if it isn't an old adage on Wall St. then it should be that failed rallies are the mother's milk of bear markets.

Posted by: fred | Jul 15, 2008 9:20:27 PM

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