GBers.....continue to focus on Dow 7,800 as major support. Dow Industrials was down 203.00 points today, closing @ 8,175
IMO if we break 7,800........Dow 7,000 is very possible.
keep in mind, locating a Market bottom is a process, not an event. until then, my long term strategy remains unchanged.
NT
Oct 27 Nine major US banks will receive 125 billion dollars in capital injections this week from the US government, a Treasury official said Monday.
Assistant Treasury Secretary David Nason told CNBC television that "We executed the agreements for the nine institutions late last night so the money will go out the door for these institutions early this week."
The nine will get half of the 250 billion dollars to be invested by the government in the banks as part of a massive rescue of the financial system.
The nine banks are Citigroup, JPMorgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo, Bank of New York Mellon, State Street and Merrill Lynch, soon to be taken over by Bank of America.