The Day that Was - August 21st 2007

There is not much more I can say about today then what was already said in my post after the market closed. We had low volume again today as large money movers were just not ready to commit to buying up equities. This lack of their buying power is keeping our markets in a state of flux. We have no clear direction while they wait (along with the rest of us) for what will happen next.

The "will they" or "won't they" speculations on what the FOMC will do next is controlling the market. The tension is so high that it can be played like a guitar string. It is important to keep emphasizing that the market conditions we are in now are not the run of the mill pullback. The dynamics of this decline are deep and varied. The implications of what may happen if these credit / financial problems persist is far reaching. When the economy is at stake, which it is here, the markets are walking on hot coals. We have people on both sides of the fence saying everything is fine with the economy and those on the other side saying that it is not fine. And stuck in the middle is the markets. And right now they don't have a clue where to go yet.

Good night Rebels.. See you in the morning.