It looks like it will close around 8800. This is NOT the bottom. I told Fredo I thought the bottom wold be around 7800 and then plateau for a period before falling into the abyss. My original thought was that 7000-7200 would be the plateau level for a period before tanking.

700 Billion. We have to pass it NOW! IN a hurry otherwise the markets are going to fall. Hurry hurry hurry. Don't read it. Don't worry about it Just pass it. Don't research it. Don't hear testimony from economic experts. Don't do anything reasonable to protect the tax payers. Just do what we are telling you. You know who we are...the same people who CREATED THIS MESS!

Yeah, the dollar looks as if it is doing better but that is only because the Euro is imploding and those investors are fleeing to the dollar. That won't last.

The DOW just went below -8700. Back up to -8800.

As an FYI to all of you out there, CREDIT is NOT a problem for credit worthy individuals. There are 100% financing options out there in home mortgages for QUALIFIED buyers. This is the norm. Plenty of money is available for auto dealers to make available to qualified purchasers it's just that nobody is BUYING anything! The dealeo with GM is not because Mainstreet can't get financing and they are faltering because of it, it has to do with the viability of the business and the inability to back up all the loans that they had PREVIOUSLY made that are now being defaulted on. GM has it's own finance company and it simply had POOR lending practices in the PAST that is hitting them NOW but it has NOTHING to do with this immediate crisis, it's just a reflection of the past actions, just like what you are seeing with the market as a whole. This is a NATURAL correction!

Gas was so ridiculous for so long, people are TAPPED out and are now focused on paying things off.

Mortgages in default are still only around 3% of all mortgages held, people. Only 3%.

1/3 of ALL current home buyers are First time buyers. They purchase NO MATTER WHAT. They have nothing to compare it against. Loans are available to them. There is NO PROBLEM with that.

The only individuals who can't secure loans are those people who are not CREDIT WORTHY enough to secure those loans.

Liquidity is THERE. Banks are HOARDING to themselves and not lending to other banks and are retaining the money fr their own firms to lend out. They make their money by LENDING it, they're just not lending it to other banks. MAINSTREET's qualified applicants are having no problem getting loans!

It's NOT a credit problem for MAINSTREET. It's a credit problem for financial institutions! Those who are not worthy of securing loans are not getting it! Not until they get part of that 700 billion you and me and our kids and grand kids and great grand kids are going to pay for!

I want to SCREAAAAAAAAAAMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!

HOLY SHIT! In the ten minutes it took me to rant, the DOW is down to 8600 -650!!!!!!!!!!!!!

WHOAH!

Okay, closing Bell, right now the DOW is at 8684 down -573, lets see where it ends.

Dang! The DOW closed at 8579.19 -678.91.