Street bouncer.

The Dow has pierce through the main bearish support of the 52 week techincals between the high and the low of 12,515.10.The market makers must have realised the magnitude of disaster if no premptive measures are taken to stabilise it.

Here comes the Plunge Protection Team.The 'Invisible Hands'--- It's out there and what was once conspiracy theory is now an accepted and acknowledged policy tool.
The only difference between intervention and manipulation is communication.
One of the handyman is "Paulson who started preparing for market gyrations on the day he moved to Washington from Wall Street, colleagues say. ``He began working on financial preparedness from the start,'' says Robert Steel, the Treasury's undersecretary for domestic finance. ``And he decided early on that a key mechanism for doing that was the President's Working Group.'' Read from bloomberg the following column.
Mr. Paulson wasn't alone. In fact, he was in very good company. San Francisco Fed President Janet Yellen, Federal Reserve Chairman Ben Bernanke, Dallas Fed President Richard Fisher and Federal Reserve Governor Fredric Mishkin were unanimous in their assuring voices that we had nothing to fear but fear itself.
We're navigating our way through the most interesting period in the history of the financial markets.The many intervention won't work immediately but it'll simply buy time.We've already seen massive intervention, central bank liquidity injections, discount window collateral shifts, adjustable-rate mortgage freezes and behind the scenes maneuvering.Expect to see more but keep it in perspective.
Tracking the Dow on Wednesday,9.01.08.
A rocky day again with the bad guys,Goldman Sachs saying it expects a recession in 2008.But again they are aware that the Fed funds rate is expected to drop by another one and three-quarter percentage points from the current 4.25% to 2.5%, with a half-point cut at the end of January.
The final half hour trading reverse the bad guys stance with St. Louis Fed President William Poole said in a prepared speech he sees the U.S. avoiding a recession. The fundamentals of our economy remain strong ... and 2008 looks to be a year of rising growth," he said
Wednesday's dow has licked past the main bear pivot and must have kissed goodbye and has covered back the half-body of previous day's candlestick and look set for a short-covering.
The weekly initial jobless claims and wholesale inventories readings are slated for release tonight while Fed Chairman Ben Bernanke is scheduled to talk tomorrow.
Stock Watch:-
1.) CVBT - Continued Momentum http://rs6.net/tn.jsp?e=001bKk7DT-ZSoOCfzH70GDT1mbdS7WKGRRKdntTdJYrxvtkazrgLxxd9Dp15kFp0ustTGiVZrmjLY11TG1fH7qAWv_PiUozmVhz-nlPA1aIGr-mw4cs84bnvy70qBDVr31kLGS3jIdjbGjIxpa_M9sfueIX_e1kAXXR6oXgj38K6T97ve-YnXPMlGi8XIaAy3D4nLIoID56IJk= CVBT is a biopharmaceutical company developing drug candidates with FGF-1 as its active pharmaceutical ingredient (API) for diseases characterized by inadequate blood flow to a tissue or organ.
2.) GFRE - Newshttp://rs6.net/tn.jsp?e=001bKk7DT-ZSoONS-TmnjWFFP9vtOWO845lyPvIFLKm9MQibL2CC1GDoiZ_Y8iJl8xHjtRRbD4vLYK3g7HpYBiaZRCWENFEzehLpqJhwsAtb5rMI0ngYUypfwNC5qQDp1wIDVQU5CPjpiKwlFg2W3M9_Uskhq7KO6WJ Management expects to report 2008 revenues of $87 million, net income of approximately $23.5 million and earnings per share of $0.23, based on the approximately 100 million shares currently outstanding.
3.) http://www.puriowatertech.com/technology.php