very strange that they were up 10% and more in premarket first... don't see any new news, only the S&P downgrade, but that was much earlier... maybe just big guys kicking in selling
maybe someone knows something and is trading big on it? Seems weird that it would move that much with no news...
yesterday it was all over the place before news. What great trading. You could see vol and price, and it was good for thirty cents, fifty if you had balls.
it's not easy for anyone, even fed, to come up with $75B. GS and JPM trying to help.....but time is not on their side. Eventually they'll come up with a solution( I hope), but it'll likely come after the rate cut( again, I hope).
Lehman bk must have put them in a hole because of the credit default protection they may have underwritten.