Wednesday is when the vote occurs to repeal the uptick rule. Comrad Obama has already put his opinion in the pot so no one should be surprised when the rule is repealed. However, expect the dumb money to jump all over the news and cause a several hundred point rally. Just an FYI.
Maybe the market will rally a couple hundred points just cuz it's open? all up side no risk a repeat of the 90's
If so it will be because the dumb money is jumping in without an understanding of the bond market and credit spreads.
wow the article in the the NYT is down right scary! Some of the proposals are really out there. http://www.nytimes.com/2009/04/06/business/06short.html?ref=business shorts are gonna be on the run this week.
Clueless. Dont understand how markets work. No understanding of history (even the 90's). Amazing stupidity.
This is absurd, absolutely absurd. The patient is dying, and we have now decided to throw a sheet over him. Maybe 'they' won't notice, at least until the stench is overwhelming. Mark-to-model will hang over our heads like a guillotine, mark my words. Toxic debt holders will lever and adjust "earnings" based off of proprietary model valuations, the debt will continue to non-perform, and more losses will be had. Maybe the taxpayers will get lucky, and have the privelege of paying 75 cents for something that was worth 3 pennies under mark-to-market, just 2 weeks ago. I had a feeling that this was going to happen. Gotta love opacity.
How come you were long through the biggest collapse in the stock markets' history? you are clearly without knowledge