dow down, page-8

DJIA rallied till the bond insurers rumours of ratings downgrades circulated

Smart money leaving or is it already out?

From the Daily Reckoning:

"But the problem, as the Financial Times so elegantly put it, is that the "credit orgy" is over. The liquor ran out. The music stopped. And someone called the cops. Bush and Bernanke show up with a few more bottles of booze, but the guests are already putting on their coats and fumbling for their car keys.

If we're right, one of two things will follow:

If Mr. Market has his way, fear will dominate the market...and stocks will fall while gold stagnates.

If Mr. Market Manipulator prevails, greed will return...but not necessarily where he wants it. Stocks will stagnate while gold soars"

...

I still like gold and oil stocks as long as they don`t disappoint ... the market ain`t in a forgiving mood during these turbulent days