WTF at 3:20?
Jul.22, 2008 in
General Market Commentary
I offer no explanation, although I’m sure if I watched Bloomers or CNBC tonight, I’d hear plenty of explanations. Feel free to provide the most outrageously stupid one that you hear or read in the comments.
July 22nd, 2008 at 8:11 pm
There are no explanations, did you SEE WB’s chart??
I can tell you that imbalances on the buy side kept it going after 3:40 and that could be why the market rallied into it, but ultimately it comes down to the fact that the market is not rational.
July 22nd, 2008 at 8:31 pm
I’m sure there are plenty of explanations, but I have no confidence that any of them are correct.
Thanks for the heads up on WB’s chart. I hadn’t noticed. :) Ditto with the imbalances on the buy side.
July 23rd, 2008 at 8:28 am
Taxpayer money was put to work by the PPT. In fact, they don’t yet have that money, but they borrowed it (0% interest) from all the banks they’ve bailed out. That was part of the deal/blackmail.
July 23rd, 2008 at 10:47 am
One of my pet peeves with the financial press is their need to provide a rational explanatiion for every market move. My analysis: more buyers than sellers.