Tuesday, February 10, 2009

R.C. Market Report 2.10

  • Today: Much anticipated Geithner plan was revealed today. Except he had no plan. Dow down nearly 400pts as a result. By the way, the economic stimulus plan passed through the senate, very quietly.
  • Tomorrow: Market got hammered today. The disappointment in the bank plan may persist for some time. However, there's a bit of a support at the level that we find ourselves at today's close. It may hold but it's looking like the downward pressure will break support as this level had been tested many times before. I can't help but feel bearish for the next few days.

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