So what rescued the stock market today?

[Pale Blue Dot]

At around 1:00 PM, the Dow was down abut 350 points. Yet somehow, miraculously, it managed to recover nearly that entire loss by 4:00. This despite any new, positive news (at least none that I saw).

So what did it? What saved the Dow today?

[Wiley50]

1. Pigs saving Pigs n/t

[napi21]

2. My guess is some greedy btd who figured it was bottomed out. nt

[Warpy]

11. Institutional buying is triggered when stocks hit the bargain bin

and Federal funny money came flooding into the credit market to make sure they had the money to do it.

[Selatius]

3. I think the Fed infusing 38 billion into the market allowed big players to buy back the losses

It is one way they can attempt to stave off a worse correction, but not even the Fed has unlimited resources to keep doing that week after week.

[nadinbrzezinski]

4. And WE HAVE A WINNER

by the way, by my math they have infused so far half a trillion

[Pale Blue Dot]

8. Isn't this like getting more credit to pay the debts you alredy have?

Wouldn't that mean the every extra dollar put into the market by the feds means an increase in pain and heartache later? How long can this go on? Finally, is there even a chance anymore that we can pull ourselves out of this?

[Selatius]

13. Yeah, but the Fed slashed the interest rates on this credit below market rates.

It's like getting 10,000 dollars at 4 percent interest to pay off 10,000 at 7 percent interest. One of the perks of being a banker, but the problem still is free will. People will bail out of the market if they're scared, and bankers still can't control free will.

[leftchick]

25. "stealing from Peter to pay Paul"

comes to mind.

[JFN1]

15. Yup

and it's all funny money, too...

[Pale Blue Dot]

5. I knew about 12 billion of that

I think that was around 10:00. When did they dump the rest?

[nadinbrzezinski]

6. I guess after they stopped trading for a little while

[babylonsister]

16. That makes me sick, allowing the 'big players' room. And who

might they be?

[Selatius]

18. The Federal Reserve is a private for-profit corporation. The shareholder list is private information

That list of shareholders in the Federal Reserve has been private information since the Federal Reserve was established.

[SoCalDem]

26. the PPT in action..time after time n/t

[roamer65]

7. The PPT.

Plunge Protection Team.

Google it for info.

[nadinbrzezinski]

10. The money they put in

is part of the PPT

[Purveyor]

9. A rumor. The rumor that the Fed was going to hold an emergency meeting and cut interest rates.

Nothing more, nothing less.

[angrycarpenter]

12. optimism

sike

[bridgit]

14. deeper levels of risk combined with greed...

the jury seems still out as the sharks circle the chum

[whirlygigspin]

19. "don't worry about me, all my money's in Gold, Oil and Diamonds..."

I have a sneaky little feeling that before Bush inc. leave the White House they plan on trashing the dollar, wiping out everyone savings to make way for the Amero--good way to 'take back' or wipe out debt owed to China.

Seat belts!

[bridgit]

20. sadly, that sounds about right...

x(

[capi888]

17. The Feds pumped in 7 Billion at noon today..

On top of the 43 billion last week to keep the market up. The big guys need to get their money back..!! While telling the small investors, that we are doin' a heckava job dummies. The rich protect the Rich and they all know what is going on. They just keep the little guys believing their speel on the tv and stock reports.

[babylonsister]

21. Today? I'm responding and forwarding. nt

[whistle]

22. Another $30 billion credit line to hedge funds

[RB TexLa]

23. Hedge funds were selling oil futures to cover stock losses, they didn't need credit

They just started the drag in the oil market, but it should bounce back tomorrow.

[whistle]

24. Certainly the banks needed it then