Only down 60 on the DJIA!
Is the complete capitulation point? VIX spiked to about 70, volume is over 2B and we still have 45 minutes left?!?!?
Cause CNBC is trying to get a suckers rally Higher Volume Indicates Push Toward Turning Point Stronger volume in stock trading Friday could raise hopes that the eight-day blowout on Wall Street is pushing toward a capitulation bottom.
or it could be the government pumping money… GW’s market action team
I think this will be a short-term bounce! With everything going on, I think we’re still in this mess for another 3+ months, AT LEAST! If we’re still having issues now, beginning of the 4th quarter, those results won’t be announced until 4th quarter earnings season in Jan/Feb! I think we’ve yet to see complete capitulation as well, maybe today… We’ve had some high volume days, lately, but not all-time highs, yet! The VIX is at an all-time high, I believe, for available data; however, we’re still in uncharted territory–so how much higher can it go??? Not to mention there’s no growth catalyst yet to get us out of this mess and still extreme pressure on the credit markets. Also, people are hesitant to spend like they used to… Credit is frozen! If companies are in trouble, how can they pay their employees? They’ll have to start laying off… I think it’ll get worse before it gets better, in my opinion! Especially if we also have a NATION, Iceland, going into bankruptcy! Just my 2 cents!