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Market is open. Dow is down 183 points (1.53%)

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tekisui Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 09:32 AM
Original message
Market is open. Dow is down 183 points (1.53%)
We'll see where it goes from here....
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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 09:36 AM
Response to Original message
1. Yes, we will...there is still a Bull Market that can be killed
Apparently you've got to lose 20% from the peak to declare the bull dead. That's still hundreds of points lower for the Dow.
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tekisui Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 09:58 AM
Response to Reply #1
2. It has lost 12.53% this past month.
If it keeps losing 1-2% a day...we can declare the bull dead by next week.
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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 01:59 PM
Response to Reply #2
3. Yes, it only needs to go to about 11.2K
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A HERETIC I AM Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 03:36 PM
Response to Original message
4. Rather dramatic turnaround ...Dow now more than 200 points positive for the day...
Flirting at the +240 area @ 3:35
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tekisui Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 03:51 PM
Response to Reply #4
5. It was dramatic.
What good economic news helped it?

Is it a dead cat, or for real?
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A HERETIC I AM Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 04:34 PM
Response to Reply #5
6. Financials & Transportations rallied - JPM up 4.81, AMEX up 2.98, Citi up 1.90, AIG up 2.56
Continental Airlines gained 2.76 to 26.69 as the group benefited from a drop in fuel prices. Union Pacific Railroad was up 6.48. CSX up 2.19, BNSF up 3.25. Crude oil fell more than two dollars a barrel. Homebuilders lifted as mortgage rates dropped to levels not seen since 2004. The market also welcomed news that insurance regulators met with banks to raise new capital for bond insurers.

Take that info for what it is. It was real enough to bring buyers back in, anyway. Even if only for a while. We'll see.
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