Tuesday, October 7, 2008

Fleecing the Sheeple will never be a "for Dummies" book

If this market was being traded by surgeons it could not be more precise in what it is doing ... yesterday the huge downmove that washed out the last hopes of the public that the bailout would save us, was followed by a fantastic upswing that made it close only - 368 Dow ... the Europeans met and frigged with their systems ... The Federal Reserve opened a credit window for short term cash - NO LIMIT to amounts ... Wall Street methodically sells the market down all day, carefully and precisely into S&P 1000.00 (999.50 exactly) ... now, with unlimited paper money available to business (not home-owners) and a perfect price to hold at, the big players can buy, buy, buy, mopping up the trash the fearful sheep throw away after headlines that will be even more extreme tonight as the Dow closes - 508 .... here is a quote about Fed actions:

The Fed created a Commercial Paper Funding Facility (CPFF), which will provide a liquidity backstop for the strained commercial paper market. The Fed will purchase three-month unsecured and asset-backed commercial paper from eligible issuers. The Fed did not give a dollar amount on size of the CPFF. The commercial paper market, which banks and U.S. corporations rely on for short-term borrowing, has been under pressure as investors flocked to the safety of Treasuries and away from money market funds.

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