WSJ has a nice chart of yesterday’s action:
Dow Jones Industrial Average: July 26, 2007
click thru for full size Dow chart
Source: free WSJ
Intra-day Dow
July 27, 2007 6:43am by Barry Ritholtz
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Moin from Germany,
all the noise and scream for the Fed to step in with the Dow only a few percentage points away from the ATH.
They will be hoarse very soon…. :-)
While I can’t tell when Bloomberg TV showed it’s interview with Paulson, the first sign of his comments I can track is at 3:03 from MarketWatch, i.e. 9 minutes after the bottom was hit. While he spoke the usual unfounded, protesting-too-much, containment nonsense, I suspect what the market reacted to that and what we saw yesterday was the “Paulson Bottom”.
How fittingly if it is taken out today.
On a side note, am I the only one who don’t see any fear out there? Will that change over the weekend if we drop a few hundred more today? Hmm.
The auttor has forgotten the interview with Paulson on Boloomberg….
It should be interesting (nto say the least…), to see it on the chart as well….
I spoofed yesterday’s stock market fall-out via the latest Bernanke Panky – Imagined it as though Ben Bernanke took the day off and left Hank Paulson to mind the shop. Needless to say, Hank gets upset. (You can see it here)