Stock Market Rollercoaster
By Barry Ritholtz - November 18th, 2008, 5:30PM
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Stock Market Rollercoaster by Paul Zanetti
Money won't buy happiness, but it will pay the salaries of a large research staff to study the problem. —Bill Vaughan
Macro Notes
US$ indexPeter Boockvar
Add Nicolas Sarkozy to the choir of calls on the US$ as he is saying at the G8 that the US$ can't remain the only reserve currency. Even before his comments, the $ index has been weak all day on the heels of the Bank of England MPC statement this morning. The $ index is back below the important 80 level and has failed at its 50 day moving average. Before the break below in Sept '07, 80 has been a key level of support going back to when the index began in 1967 and while there has been much...
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November 18th, 2008 at 5:42 pm
From the guys who brought you the Real Estate charts from a couple days ago…..looks like the top of the old Cyclone roller coaster I used to ride as a kid…!
http://www.tradersnarrative.com/massive-ominous-double-top-formation-2080.html
November 18th, 2008 at 6:07 pm
That looks like the coaster from Cedar Pointe in Sandusky, Ohio. Get some Dramamine and buckle up..
November 18th, 2008 at 9:02 pm
Darling comic.
One of my best friend is with MS. He’s older than I am, but I won’t hold it against him. Anyway, even BEFORE the close, I sent him an email asking “have you seen everything now?”
His reply: “The range of emotions I go through everyday is gonna kill me! I think I’m going to start drinking before the open from now on.”
(What he was really going to do was bang out 50 hard miles on his bike before dinner. Remember the market closes at 1 pm in the west.)