back to blog homepage

2007-03-01 :: Another Bumpy Ride

The market opened in negative territory this morning, down 200 points, but has struggled back to down 67. Its going to be an interesting day as the bears are going to see if the bulls have any conviction and if they are willing to buy into the swoon.

The talk on Wall Street is that all of the hedge funds that were borrowing in Yen and investing in US stocks were selling to pay back their Yen loans. That news sent the futures and the open down significantly, but it looks like cooler heads prevailed and the market came back to its current level.

More later!