Wall Street is getting hit hard today, 2/17/09. Almost all stocks are down except a select few and most gold stocks.
Why is the Stock Market down Today?
- General Motors ( GM ) and Chrysler are back in Washington possibly needing more money.
- Japan reported over the weekend that their recession is worsening.
- Gold prices are soaring ( $965 )
- Bank Stocks around the world continue to fall
- Confidence in the new administration is falling ( ie, Timothy Geithner's Bank Rescue Plan disaster last week.
The Dow Jones is hovering around 7600, 100 points above a major support level of 7500.
The S&P 500 is at 795, 50 points above support at 740
Most say we are testing the Bottom and if it holds, Wall Street could see a big bounce. Stay tuned!!
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Showing posts with label new york stock exchange. Show all posts
Showing posts with label new york stock exchange. Show all posts
Tuesday, February 17, 2009
Subscribe to:
Posts (Atom)
