What happens today on Wall Street?

Stocks continue to drop like Wile E. Coyote off a cliff? Rebound? Tread water?

 

Looks like an early rebound. Who knows what can happen, though.

 

Dow up 200 at the start, but I'm guessing it gives that all back and ends up down by that much or more.

 

Hopefully something that doesn't involve me losing another 10 percent of my 401k.

 

There will be perhaps hundreds of thousands middle class kids whose college hopes will be screwed because of this. People who saved and invested in Mutual Funds and relatively safe stocks have seen their kids college funds whither away.

FUCK THEM ALL.

 

Up 185 as of ten minutes ago.

 

a dead cat bounce

 

I heard someone say that about $1.4 trillion was lost in 401k and retirement accounts yesterday.

 

Consumer confidence numbers improved in September, which is cause for the slight uptick. Do note that these don't reflect the funhouse that was Monday.

 

Early trading often tends to be about those folks who see bargains after yesterday's mess. So it's fairly normal for there to be a lot of buying right now. By midday, that could change.

 

Dow up about 400 right now. But 1929 had these wild swings too. Lots of bargain hunting and I think the Fed is going to meet to cut interest rates again.

 

Which will do dick-all nothing to help. The Fed funds rate could be zero, and if banks think they aren't getting their money back, they still won't lend it out.