This was a rough day. Having problems with the computer & stocks are down. However the markets took disappointing news fairly well, all considered. Dow was down 120, but NAZ was only down 10 while decliners were only slightly ahead of advancers. Volume was very low, near 1B. Markets were hammered by the 2 big worries, enormous financial institution problems & surging oil prices. AIG, the largest insurance company, reported a large, ugly loss requiring it to raise $B more in capital. Oil keeps surging, all kinds of worries trigger buyers. Markets need a break over the weekend to digest & evaluate this news.
One ray of good news, Carl Icahn may get his wish to buy Circuit City (CC), up 30¢. Small relative to the macro problems out there, but a ray of hope.
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