***FACC Morning Lesson-"The headline on Yahoo's Finance Page This Morning"***
About 7:30(sh) EST
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Wall Street Points to Moderately Higher Open- AP
Wall Street pointed to a moderately higher open Tuesday as investors awaited reports on the nation's housing industry and the broader economy. While the reports are expected to show further weakness, investors have likely already priced in very low expectations.
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What really happened? - Money was made money shorting the market today (sorry grandpa, I know your 401(k) doesn't allow you to do this).
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The Dow went on to open at 8518.65 - just a point lower from the previous close.
*Shortly after amateur-hour - a false break to a new high occurred - notably on unimpressive volume. After that, nothing but down till 5 hours later =>
=> The low? 8391.30 - 212 total points lower. A nice 5-hour shot of instant income.
The market wound up stumbling to a close of 8419.49 - closing the day lower by just over 100 points.
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