This market is Fu$king amazing, there they go pumping the markets up again with more rate cuts and liquidity injections, for BSC to be BOUGHT out at $2.00 this says something is really Fu$ked up. THIS WAS THE 5TH BIGGEST FIRM.... The federal reserve is getting desperate now, they should just lower the rates down to 0%. futures are jumping, DOW fut up 103 S &p up 13 nasdaq up 17
Translated into non finance lingo .. "We are in bloody panic mode.. we don't know what the fuck to do so we thought another 0.25% would show we are trying something.....also we will accept any loan as collateral we prefer boats, cars and houses".
I told you so earlier today. It was in the price of options. OTM calls premium were way high. Read this thread of you did not: http://www.elitetrader.com/vb/showthread.php?s=&threadid=121336
If you missed th earlier post with link read for yourself.. http://www.federalreserve.gov/newsevents/press/monetary/20080316a.htm
My guess - which is all it is - says this move with GS and Bear, plus the 25bps cut to the discount rate means we'll see a 50bps cut on Tuesday, with wording that signifies a heightened awareness of inflation and that cuts are no longer the answer.
i can just write the fed a check directly if they'd prefer that to a market mechanism.. of course it happened a few mins after i sold something, not a moment before