Thursday, December 4, 2008

The See Saw Continues

Key word: Optimism! The Dow closing hour yesterday:Key word: Pessimism! Buy the rumor (above) and sell the fact (below)?
The Dow closing hour today (see below):
It appears that the financial markets aren't convinced, after seeing the automaker's CEOs testify before Congress today, that this bailout will work. But they are convinced that it will cost the American People a lot of money! Dr. Mark Zandi of Moody's testified that it won't cost just $34 billion; he said it will cost a figure closer to $125 billion. Look out belooooow: