History repeating? A quick look back from 1920's to 1930's Damn, didn't I just live through 3/4 of that? I even quit drinking! Oh crap, what's next, a world war? Oh wait, we have a global war on terror/drugs/poverty/aids.
This is the rest of the street bailing them out. They can't take a UBS fail because of the counterparty risk. UBS was gone w/o this infusion. Some relief. Now, let's see how smart they are with a second chance. I still don't see how these firms excel going forward. If they can't do their 'sleigh of hand' stuff, they can't make real money.
Did not you see that beautiful bull wedge those all market participants headed by Fed were building during past week with our own blood and money? It was school example, even blind must feel it. And yesterday trigger signal? And positive news about UBS /that it did not bankrupted immediately/.
A rate cut?! Oil would go to 150 today and then you could bind a wad of dollars and use it as a spiral notebook.