Any hedge funds that have yet to come out clean will ultimately go through a redemption spin cycle. In addition, you can bet there will be a huge volume of margin-calls going out tonight. Gggrrrr! Meow!
cover 1/3 at 47, 37 bid for another 3rd, keep some for overnite, covered 1/3 at 750, on close, still holding sh for ah
It looks like we did ultimately scored another down day (DDD or double-day down), which will most likely lead to TDD and QDD. Again, I wouldn't know where this avalanche will end if you were to ask me. Peace!
The sell off is much more real this time. If we are looking for a temp bottom, this one looks better than the last 2!
Why do you think they'd do it? I think the same, this thing is too good to be true! Good luck to all!
TOP STORIES CONGRESS MAY RETURN IN DEC FOR AUTO RESCUE, SENATORS SAY Congress will adjourn this week without passing legislation to extend emergency loans to U.S. auto makers but could return in December if the car companies present a "viable" plan for their survival, top Democratic lawmakers say. A "compromise" plan worked out by a bipartisan group of senators to extend loans to the industry through an existing Department of Energy program appears dead. GM shares up 7%, while Ford rises 5%. US JOBLESS CLAIMS RISE TO HIGHEST LEVEL IN 16 YEARS The number of U.S. workers filing for new unemployment benefits jumps by 27,000 in the week, far worse than economists' expectations of an 11,000 drop and the highest level in 16 years, suggesting more pain ahead for struggling labor markets. US STOCKS IN STEEP SLIDE AFTER RALLY SPUTTERS U.S. stocks are dropping sharply in the last hour of trading as markets cast a cold eye on reports that a bipartisan group of senators has reached a preliminary agreement on a loan for Detroit's auto makers and as Citigroup plunges. The DJIA is down 230 points.