DOW JONES DROPS 298 POINTS at 10:00 AM

UPDATE 10:42 AM -- WALL STREET ALERT: If you are a stock investor -- YOU DEFINITELY WANT TO PAY ATTENTION TODAY!!! Gold is now at $1006; Fed announces they are monitoring markets closely and are ready to add liquidity...the DOW is DOW-N 200 points...treasuries surge as stocks fall...dollar hits record low against euro...gold at an all time high. This could be a sign "smart money" is pulling out of the market. President Bush to speak on the economy at 11:15 AM. If they don't bring out the paddles, soon...gonna lose the patient on Monday.

At 9:29 AM (pre-bell) the Dow Futures looked up, and everyone was saying the coast is clear based on some news about a Bear Stearns rescue and better than expected inflation numbers. But an hour later (10 AM) the Dow was down 298 points to 11880 range. Now, at 10:11 AM it bounced back to down 132 points 1210. Point is, a lot of confusion and the fact that all of these financial bail out measures need to be taken means you have a very sick patient on emergency treatment. So you may be getting treatment, but that ain't good news.

Here's an excerpt by Zuma Dogg from yesterday (3/13/08):

Zuma's Batcomputer just sent a Wall Street alert that today is gonna be a "DOW-N" day for the Dow. One of those painful down days that reminds you how fragile the economy is. Oil at $110 per barrel and gold at $1000 ain't helping the already sucky housing, credit and bond markets and weaker than ever dollar. Margin calls are hitting some of the big boys real hard! (See Carlyle story). Oil will continue to skyrocket higher than your worst nightmare ($145-$150 in the short run.) What is causing the rise in dollars per barrel? The U.S. is backing Columbia vs Venezula's Hugo Chavez, so the risk of oil supply disruption is already driving the price up. (Hugo might turn off the oil switch.) Remember, when oil goes up -- so does gold. Silver ain't doing bad, either.

Here's the exclusive LA Daily Blog WALL STREET NEWS WIRE to help you sort it all out.



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