Replies to post #6907 on Zeev's Turnips Patch-No Politics (ZEEV)

[epsteinbd]

What will the small investors do tonight ? Probably hope for the rally to start tomorrow morning, like they are all told, then call W for help etc.

[DlphcOracl]

jbennett53: Regarding JPM and C

The dramatic selloff in these stocks is undoubtedly due to the flood of class action suits that these Enron revelations and Congressional hearings are going to open them up to. It doesn't matter how "large cap" you are -- when the ant army of trial lawyers begins nibbling on your flesh, the rot and decay are inevitable.

[Lane Hall-Witt]

jbennett53: I've been trying to figure this out, too, and haven't come up with a good explanation, yet. Maybe the news is just so big and shocking that it hasn't really "sunk in" yet. There's not really any commentary trying to make sense of its broader implications. Maybe the big players know it's so devastating that they're maintaining a "code of silence" to maintain an orderly selloff for a few days. Maybe the big players are so awash in this kind of corruption that it wouldn't even occur to them that it's a big deal.

I don't know. This day feels awfully "managed" to me, though: the utterly bizarre behavior of gold; the strength in the Dow, even with C and JPM down 15-20 percent for much of the day.