Mercy! What a close!

However, being the ever-optimist, I prefer to look at the bright side of things. Get your party hats ready. Another DOW 10,000 party may be on the way.

Equity Closing Snapshot 3:00 PM Central

Notes:

ES = S&P 500 Futures NQ = Nasdaq 100 Index Futures $COMPQ = Nasdaq Composite Index $SPX = S&P 500 Cash Index $NDX = Nasdaq 100 Cash Index DUG =Double Inverse Energy ETF

S&P 500 Cash Index was down 5.34% Dow Cash Index was down 5.44% Nasdaq Composite Index was down 6.86% Nasdaq Cash Index was down 6.07%

Futures Closing Snapshot 3:15 PM Central

Nasdaq Index Futures sold off another 19 points in the extended futures trading session. 147.25 points total.

Good News: S&P 500 futures only sold off an additional 5 points in the extended session. Optimists like me can always find something to cheer about.

Today's Recap

• Do These Idiots Realize How Stupid They Sound?

• Gold Cries "BullSheet"

• US Dollar, Swiss Franc, Yen Rally; Euro Reverses Gains; Expect Intervention to Fail; Gold Holds Gains in Ocean of Devastating Red

• Email From "An Irate German" Over the Transfer Union; German Bank Exposure by Country; Harvard Economist Seeks "Transfer Union" and US Inflation

• In Vote of "No Confidence" Bank Stocks Hammered Mercilessly - Why Shouldn't They Be? Citigroup, Bank of America, Wells Fargo Bankrupt

Obama Saves 100 Dow Points

I am pleased to report that I am not the only one who looks on the bright side. InstaPundit comments ...

"Dow Finishes Down 634 Points. Obama's speech certainly did nothing to slow the drop, though I suppose the White House will argue that it would have been 734 without the speech, meaning that Obama saved or created 100 Dow points . . . ."