October 30, 2008

The Foreign Markets Are on Fire

GOOD MORNING. JAPAN IS UP 10 pc and Hong Kong is up 12 pc. Germany is up 4 pc, while the FTSE and the CAC are both up about 2 pc. Would it be too much to ask for the American markets to also have an up day?

I mean, my goodness. It was so absolutely frustrating to see things humming along yesterday and then -- bang! -- in the last ten minutes, see everything go to hell. This has been happening a lot lately and so I have to suspect hedge funds are behind it: they're the only ones with the risk tolerance and capital to sink a market like that.

What would be cool is if the SEC would do an investigation into this whole matter. Not to do anything about it, of course, but just to find out who's behind it. That way everyone else on Wall Street could gang up on the scoundrels and wipe them out.

On the other hand, as of this writing, the US futures are way up. Dow's up 313, S&P 500's up 29.80. Sweet. Perhaps we could pull out a nice day after all.

Posted by Benjamin Kepple at October 30, 2008 07:01 AM | TrackBack
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