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

Bloomberg LInk to today's action:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUxPr4KPMRY8&pos=1

Discussion about dollar relationship with the DOW today. Anecdotally speaking, we should've had a stronger dollar rally given the commodity and equity selloffs. We'll have to see if Sunday brings a CIT surprise as well. Recovery is in question - DUH! Also, no PPT assistance visible in the equity markets - interesting!

Category:

News & Politics

Tags:

• dollar collapse
• economic collapse
• 2012
• stock markets
• equity markets
• commodities
• peter schiff
• gerald celente
• alex jones
• web bots
• h1n1
• CIT
• financial banks
• federal reserve

[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.

[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!

[kenandjasha]

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

[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!

[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.

[kenandjasha]

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

[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.

[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!

[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.

[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