It opened low and dove beneath 8000 and is now near even down -38.
Interestingly, 55 of the 80something financial stocks are UP!. Huge volumes of buys currently. Hmmmmm.... Plunge protection buying? YES! I think so. Those with vast amounts of wealth who want to protect those vast amounts of wealth, what better place to buy stocks at their low than those very companies (those that are co-mingled with your own) who will be getting hundreds of billions of dollars in tax payer funded gifts!
Commercial paper is improving for the moment.
By the way, I don't think their attempts to bolster the market will work. There are far too many individual traders who won't buy it. It's going to tank anyway, even if there is a brief period of plateau and small rises, it will still tank.
I've been watching these CNBC commentaries daily since the bailout proposal was first made and previously I rarely watched them at all, except during specific times but I've not ever followed them consistently. In following them consistently, I cannot believe how LITTLE they actually know about the entire market as a whole. Sure, they each have their little field of expertise but the bulk of that expertise is based on a very limited time-frame(less than 20 years for many) in a very limited field. Few step back and look at the whole picture and ALL of them are focused on individual investors and THAT is where they all have it wrong. They want to continue to repeat the same flawed movements, decisions and manipulations that brought the market to exactly where it is at. It's crazy. What's worse is that they are in this position of authority with so many millions, even billions, around the globe who hinge on their words and knowledge and experience when in fact, they really don't get it! Very scary.
The injury is a severed limb and they are attempting to prescribe a coagulant to stop the blood from flowing out of the body as a cure! It's Crazy!
Anyway, the DOW is at 8260's right now down -320's at 10:20 AM CST. Hang on!