Tuesday, February 17, 2009

Text not video

I won't have time today to make a video but as you can see the market fell off about 4.6% today. A big move but mostly the US was just following the rest of the world down. The markets pretty much dropped the whole way on the open and then traded sideways all day. The president signed the stimulus package today but the markets already knew that and he didn't give any clarity about other moves in his remarks. The market rallied a little and then closed at the lows. Tomorrow should be exciting as well as tonight we learn more about the problems in the auto-industry and tomorrow we will learn more about the mortgage subsidy. Until then...