Discussion in 'Trading' started by JamesJ, Sep 16, 2008.
down 41% in premarket... 2.79/80
selling off since 7 ET...
what news hit the tape there?
was it the S&P downgrader?
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).
lowering rate is meaningless. japan was in a deep slump for 10years with near zero rates.
I agree it won't help much on a long term. a rate cut of 50BP or more will bring DOW back to 11500.
amazing how fast this thing has imploded
25 to 3 in just a few days
Lehman bk must have put them in a hole because of the credit default protection they may have underwritten.
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