Caruso: Beginning of the end of the wild ride on Wall Street?

[0:01] ..." at this time we take a look back on this week on Wall Street no matter how painful it is. And with us from coastal capital group and interest David -- right here in the studio did you -- you either. Surviving but I can't hear get a little extra time it's so much to talk about capsule actually is this the beginning of the -- some recovery midafternoon. You know I think for future from the outside looking in this -- just another down day in Wall Street if you were in there which I think he saw as capitulation opens today -- its next Monday or Tuesday but it really feels like it did in 87 read a lot of bad news that started yesterday afternoon markets went up 700 points and everyone's scratching their head what happened. It continues the morning we were down another 700 points at 1400 points and going to figure why all of a sudden buying in the -- so positive and were -- a little bit I think -- the and the days because it's Friday we've got a G seven meeting coming up people wanted to cover their traits from my hope is that nothing crazy. Goes on overseas in the G seven guys and then we see market story do you think so. I don't know it's the date if it's being capitulation if that's the bottom -- felt better than it looks at least historically we know that what goes down does come up in the you know in gravity and that Wall Street but over the last ten days the -- down -- about 21%. You know what's even more amazing that we're -- it"...

[2:10] ..." if that happens world -- it's okay one analyst said you know Wall Street is the only place with the supplier Salem nobody is mine. If you were buying what we do mine by the worst really if you look at the industry's been hit the artist and you've got fortitude. Look at the technology stocks were going to buy technology and telecommunications stocks were have to communicate and of the bank stocks we article back to the -- and I guarantee you will go"...

[0:00]" Every Friday at this time we take a look back on this week on Wall Street no matter how painful it is. And with us from coastal capital group and interest David -- right here in the studio did you -- you either. Surviving but I can't hear get a little extra time it's so much to talk about capsule actually is this the beginning of the -- some recovery midafternoon. You know I think for future from the outside looking in this -- just another down day in Wall Street if you were in there which I think he saw as capitulation opens today -- its next Monday or Tuesday but it really feels like it did in 87 read a lot of bad news that started yesterday afternoon markets went up 700 points and everyone's scratching their head what happened. It continues the morning we were down another 700 points at 1400 points and going to figure why all of a sudden buying in the -- so positive and were -- a little bit I think -- the and the days because it's Friday we've got a G seven meeting coming up people wanted to cover their traits from my hope is that nothing crazy. Goes on overseas in the G seven guys and then we see market story do you think so. I don't know it's the date if it's being capitulation if that's the bottom -- felt better than it looks at least historically we know that what goes down does come up in the you know in gravity and that Wall Street but over the last ten days the -- down -- about 21%. You know what's even more amazing that we're -- it will but history and -- what have been the worst bear markets -- World War II. There were seven through seven before with the markets were actually down about a 48%. They were 20022000. Through two which you both of us went through. But that was down 47% this market when it was down 700 today was down almost 50% -- the magnitude to what can happen when year. Maybe that was the sounding war that came through -- any indications of why were may be seen this bouts yet because -- were realizing that it is a credit crisis the market was reacting to what was going on credit markets so we're seeing now is that this meeting hopefully we'll get to the point that says. We've got to get this other rate that it has to borrow from called Libor the London Interbank rate we have to get that down because it's too expensive and people are but again I think we're seeing that and the greatest thing can happen is people -- certain documents that you know we're going to guarantee everything if that happens world -- it's okay one analyst said you know Wall Street is the only place with the supplier Salem nobody is mine. If you were buying what we do mine by the worst really if you look at the industry's been hit the artist and you've got fortitude. Look at the technology stocks were going to buy technology and telecommunications stocks were have to communicate and of the bank stocks we article back to the -- and I guarantee you will go back to the malls retailers are doubts a look at the things that everybody hates and that's probably where the opportunities."