Daily Investment Interpretations
August 10, 2011
(Wednesday Night): The markets
Wrap: Stocks Plunge on Euro Contagion Fears, Stocks dive again, bleeding losses in final hour.
Composite plummeted 101.47
points (-4.09% ) to end at 2,381.05.
The Dow dove519.83 points (-4.62%)
at 10,719.94; the S&P 500 stumbled 51.77
to settle at 1,120.76. Oil ended at $82.74;
gold closed at $1,800: Gold soars past $1,800. The VIX
Bank of England Downgrades Growth Expectations, S&P's next downgrade- France?, Beware the S&P 500 'death cross', Altucher affirms controversial Dow 20,000 call, Technical Talk- Trying To Get Our Bearings.
Irrespective of what the hedge funds do, the economy looks to me as though it's in a self-reinforcing downward spiral.
Market futures are up more than 1% tonight.