Powder Blue Report

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Thursday, August 16, 2007

Thursday Market Update

This is a historic week in the market. As I write this, the Dow is down 350 points, the S&P is down 38 points, and the NASDAQ is down 55 points. There is blood in the streets. Enronwide errr Countrywide is down another $5.00 a share to $15. The Japanese Yen carry trade which hedge funds exploited for so long is absolutely blowing up in their face right now. A lot of hedge funds will be out of business after today. Gotta run.


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