Market drop, start day -1000+ and end down only 584 points

[Scout26]

So, what does this mean for tomorrow.  The bounce was due to buying perceived bargains, but will the sell-off continue (I think this is the third or fourth down trading day.)

Oil continues to plummet.  Analysts say that China's real numbers are much worse then the "official" numbers and the world economy is still slowing. 

Recession part I've lost tracketh?

The only good news is that the Fed will probably have to continue to hold down interest rates for the foreseeable future to try to continue to prop up/pump money into the market. 


We are all doomided. Film at 11, women and minorities most effected. 

[Ben]

The analysts I trust seem to be in a consensus that there will be bargains to buy over the next month. It is certainly a time to buy more mutual fund indexes for the long term.

Interesting postulation I heard today is that though it would not now make fiscal sense for the fed to raise the rates as they've been talking (and talking and talking) about doing, that they might just do it anyway to try and send a message that the administration knows what it's doing with its policy re: the economy. The rate raise should have happened a year ago, which would have led to a much more orderly and gradual correction. This (China aside) is partially the market saying FU to the fed.

[brimic]

Bought a few straddle options today- not sure which way the market is going to go, but I'm pretty sure its going to go. There had to have been fortunes made and lost today with the wild swings.

Edit: nevermind, the market is going to stay level and steady- because I bought the straddle options.