MARKET WRAP UP 10-29-2009 - DOW Sell off, CIT Rumors, Dollar Gains Slightly

[Aedoneus2]

Thanks for the info. By the way, you have very kind eyes. I can tell your a good guy. Take care!

[suedeu02]

Great work again. Just wondering, would it be possible that you could do a "sharemarket for dummies" and a "dollar rise and fall for dummies" video for people like me who don't really understand the fundamentals of the sharemarket and rise and fall of the dollar. I dont really understand what causes these things to go up and down and some of the terminology for types of stocks etc. Cheers if you can.

[SignatureMill]

up - down - up - down - up - down, I am getting sick with all this market movement.

[centervilletn]

check out drutters new video...he shows signs in retailers windows in canada refusing to take US dollars...

[centervilletn]

CIT has beem below 2 bucks for a while...why would their collapse be a supprise to anyone?..if it survives id be supprised...

[FlopSideOfLife2009]

Awesome site...

Clear thinking.

Like it.

[bjmccullough]

hey network...relax and enjoy your weekend and use up some of that paper..i think this disconnect is starting to happen and this is really evident today..i was looking at these numbers myself before i watched your vid and i had the same impression...we cannot be alone in this view either...the numbers reflect the fundamentals...thanks again...enjoy your weekend with your family..bruce, tokyo

[TracyM1974]

I thought that CIT was getting bailed out by Carl Icahn. Did I read that wrong?

[networkingman]

Well he agreed to support a pre-packaged bankruptcy. This could still go the way of Lehman or Bear Stearns. We'll have to see how this plays out.

[TracyM1974]

You were right.

From Marketwatch:

CIT may file for bankruptcy as soon as Sunday, the Wall Street Journal reported. If that happens, it would likely be the fourth-largest bankruptcy in U.S. history, ranking between General Motors and Enron's.

Monday should be VERY interesting. Enjoy the weekend!

[slymartins]

All things considered, Gold and Silver have been holding extremely well IMO. And they seem quite oversold right now and ready to resume the upswing. Enjoy your weekend and thx for the vids.

[slymartins]

Depends on what the USD does too, of course.

[ShillBasher]

I think you could be right. Silver has been bouncing off of it's $16 resistence the last few days but at some point it will want to show some direction. The next bit of bad news for the $ should give it the bump it needs. If the $ rises and silver drops through $16 then we may see $15 before renewed buying upto $18 odd.

[PauliesCustoms]

Have a great weekend, hope your on your way to Quincy, lol

Thanx buddy

Paulie

[networkingman]

Hey Paulie;

Well we'll probably fly over, Ill definitely wave! Still going to have a beer someday!

Thanks man!

[PestControl02]

thanks for the vids, you do a fantastic job.

Have a great weekend with the Mrs

:)

[kenandjasha]

the dollar did not gain slightly.. up .47 is a great day

[kenandjasha]

I agree with your take on the day though...CIT will be interesting...

[networkingman]

Well during the trading day, it was up only about .2% or so. But I see the nice rally after the markets are closed. So, we shall see!

[vashguud]

It's a brief hyperdeflation cause retailers are closing out inventories and gonna slap on the padlocks. Don't let the numbers fool you we are in big trouble financially.

[kenandjasha]

I know that nobody has a crystal ball, but what do you see happening next? Thanks.