2:38 PM: Dow down 360
2:48 PM: Dow down 600
2:51 PM: Dow down 900
Help.! We still don't know how the plunge was arrested. I am sure the Treasury Department's Plunge Protection Team and the Fed and every Central Bank in the world hit their red buttons to pump more money in before the balloon popped.
You are not going to believe it but no one really knows what happened yet. Should we blame a trader who made a typo or were there others playing a shadier and covert game of market manipulation which may soon officially be listed as a psychiatric condition?
Floyd Norris in the New York Times just about suggested the market was an insane asylum. Just read his lead paragraph and realize we are being dominated by financial maniacs with rationality is out the window.
"Combine:
One part nervous traders
One part Greek crisis and
One part trader error.
Stir in one part central bank complacency.
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