Stocks Losing Ground
24 August 2010
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Stocks are down big to start the session today with the Dow off over 100 points. The pessimism regarding the overall economy is building. Housing data comes out here at 10am, so that could also be a catalyst. If the sentiment gets progressively more negative that is exactly the recipe for a massive quantitative easing announcement in the future; although, I’m still doubtful that it will happen before the November elections. Oh, wait, nevermind, the Fed is politically independent.
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