DRUDGE: Reporting that World Leaders will close World Markets

Discussion in 'Wall St. News' started by The Kin, Oct 10, 2008.

  1. cszulc


    Wouldn't be surprised if they closed for all next week!

    Ron Paul may just get his gold standard!

    italy really holds alot of weight in world markets. this aint the pasta market. maybe send in Cicciolina to save the day! the dagos put her in power--- dumbos

    Looks like bozo Itailian is seeking attention if this is true.

  3. Right, close the markets. that is going to fix everything.
  4. Berlusconi (spelling?) already came out and corrected that headline. He said there were no plans to close the markets.

    White House has already stated that markets will remain open.
  5. bbqbbq


    if these close the markets, what will happen?

    banks will become even more insolvent.

    right now they are selling their stocks because nobody will lend them money.

    this could be disastrous. (although I have nothing against circuit breakers)
  6. Thank god for the correction from the white house, they would never lie.
  7. Close the markets now that we've started to find some support??? Hope not.
  8. OK.

    First of all, I am not eager to post any more after 10am speech as I am frankly cowed by statements such as "we will prosecute manipulators & those sending false information." Whatever that means, we can be sure that those who are truly responsible will be passed over and the public's non-discriminating eye will fall upon people who not in a million years would ever be reasonably considered to be in violation. Therefore post accordingly.

    While I may or may not agree with the original poster, I would ask in such a scenario, what should you do?

    Should you be:
    a) 100% flat
    b) no change with buy orders on the way down / sell orders on way up?
    c) hedged with puts/calls?
    d) take out a hedged position against core equities through ETF's (i.e. use one of the short ETF's vs your long investment position)

    Ideas? I have no clue what the best strategy would be.

    For the record, I have reallocated and am buying here. I will continue to buy on the way down as much as my stomach will permit. Its the patriotic thing to do.

    Full disclosure: long multiple equity, mutual fund, & equity fund positions with bids on the way down to accumulate more. long multiple closed end funds. Long OTM SPY puts.
    #10     Oct 10, 2008