400 point djia rally

Let the profit taking commence...

Negative rebound today?

IrishGuy wrote:Negative rebound today?

Probably. I predict a 200 point loss today, but I know nothing.

I would too but did I hear the overseas markets did well over night ...

I think the only thing predicatble is the volatility... it seems to not want to go below 11900, and not about 12,700.... I'm pretty convinced no one knows what the flip is really going on... those that do are poweless to control it...

At last check, the Dow was down about 29 pts...

It's at 12,600 right now, down about 50 pts.

Volatility is the only thing common with today.. I don't see the huge drops coming anymore though. Yesterday UBS wrote down $19B in sub prime losses and the market still had a triple digit rally. Bernanke said basically came out and said he thinks we are in a recession right now and the market only went down 50... actually.. it's down 40 now.

Earnings are going to start to be announced for Q1, that'll determine what happens. If any non-negative news comes out the market will take off. What I want to know is how many of these subprime loans are really lost, and how much is the financials just writing off anything and everything that they can so they can post income quicker.