Hmmm. Monday should be interesting, anyway. Market needs to stay open 24/7. We can sleep when we're dead.
So the financials rallied on Tuesday(after hours) into Wednesday for no particular reason? Get serious. Or at least watch CNBC while trading to see my point. Or get a TV if you don't have one already.
The shills are short this time. I'm with ya, Larry Summers and FDIC chairman have Obama's ear on this.
WSJ : ECB Drawing Up âBad Bankâ Guidelines The European Central Bank is drawing up guidelines for European governments that are considering so-called âbad banksâ to house banksâ toxic assets. The ECB is also working on guidelines for European governments that plan to guarantee toxic assets remaining on banksâ books, another form of bank bailout. Both sets of guidelines are being drawn up with the European Commission. The ECB hopes the guidelines can help avoid competitive one-upmanship across the 27-nation European Union as nations seek to shore up struggling banks. The ECB, which makes monetary policy for the 16 countries that share the euro currency, has no power to enforce any guidelines it develops.
"Two senior administration officials told CNN Friday that the full rescue plan, which is being put together by Treasury Secretary Timothy Geithner and other top economic advisers, is now expected to be unveiled the second week of February." Sounds like stale news from friday before the Saturday breakthrough.
I ran downstairs to my office and pounded C and BAC around this time... dumped it before the open the next morning... loaded back up Friday afternoon. That's all I know.
Latest news: http://www.cnbc.com//id/28965410?__source=yahoo|headline|quote|text|&par=yahoo Looks like the big news will be in 2 weeks.
The fact that the bad bank plan is safely on the table is good enough for me. I don't care when they announce it.