Markets Open: DOW breaks November intraday lows..bank nationalization fears still abound…
DOW opens down over 100..we are breaking the November intraday lows on the DOW..S&P is holding on..its November intraday low is 741.02
Next bottom to watch on the DOW is 7286, if we break that we are at the lowest level since November of 97..
Banks are getting slammed again due to all the nationalization speak of Greenspan and a lack of visibility from Geithner going forward…
European banks are down between 5% and 14%..our banks are taking hard hits as well 10% on Wells….
GOLD- we crossed $1000 briefly, the record high is 1003.20 set March 18, 2008, but adjusted for inflation we are nowhere near what would be the $2200 an oz we were at under Reagan..I am a GLD buyer….
ginaswo
