Last night I said we would drop 700 in the market but get back up to 100 point gain...

[Safetykitten]

Sorry.

[lame54]

1. you were half right

[ixion]

2. I appreciate that you take responsibility for your statements

much obliged.

[originalpckelly]

3. It's because it just gave them a reason to sell.

They were already becoming more afraid of a downturn, and the S&P downgrade just gave these folks another excuse to sell, which just caused more selling.

[Safetykitten]

4. I was thinking the PPT would take this back up...now I am rather worried they could not.

[originalpckelly]

5. It is not legal for the government to buy stocks.

In other words, those ideas are merely conspiracy theories. They may take other actions, but interfering in the markets is not legal on a direct basis.

Ask yourself, if they did do that, why not in 2008?

And that's all you need to know. There is no PPT as you envision it, though the Working Group on Financial Markets does try to stabilize things in more indirect ways.

[ThomWV]

6. Give it until tomorrow, you could easily be right yet

Companies are showing some of the highest profits in their history. This is a fear-driven drop, it will not last.