Carnage on Wall Street Again!

August 18, 2011 – – Carnage on Wall Street Again!: The DOW was down 419 points at the close to finish at 10,992. At one point in the morning the DJIA dropped 100 points in 3 seconds! The low on the DOW was down 530 points. The NASDAQ plunged 131 to close at 2,380. The S&P 500 plummeted 53 to 1,141; with all ten sectors of the S&P 500 down. Crude Oil plunged $6.00 a barrel to close at $81.58. Gold rocked higher $34 an ounce to close at a new record high of $1,828 an ounce.
For you DOW Theory fans, the DOW Transportation average hit a new low, which is extremely bearish for stocks.
The market mayhem was blamed on a series of bad economic reports. The truth is that people are starting to realize that the U.S. is headed for a severe double dip recession. This will lead to Great Depression II.
The Master of Disaster

About wfoster2011

Disaster researcher and current financial and economic news and events: Accidents, economics, financial, news, nature, volcanoes, floods, earthquakes, fires; airplane, ship & train wrecks; tornadoes, mine cave-ins, hurricanes, pestilence, blizzards, storms, tzuami's, explosions, pollution, famine; heat & cold waves; nuclear accidents, drought, stampedes and general. Futures trader using high volume and open interest futures markets. Also, a financial, weather and mundane astrologer with over 30 years of experience. Three University degrees from California State University Northridge: BS - Accounting MS - Busines Administration BA - Psychology Served in the U. S. Army as an Armored Platoon Leader in the 5th Battalion, 68th Armored Regiment, 8th Infantry Division (Retired). Have published three books and 36 articles available for sale through my blog: Commodology - Secret of Soyobeans (Financial Astrology) Timing is the Key (Financial Astrology) Scum City, a fiction novel (no longer available, under contract to major publisher) Currently resident of Las Vegas, NV, USA
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