It was a bunch of crap....S&P, not only are they late to the game with the downgrades.....they choose 10 minutes prior to mkts closing to let the world know about it. What a bunch of schmucks!
You're not kidding. I went to the bathroom and ended up coming back to taking a substantial loss--I gave up all my daily gains plus. It's horse$hit. MMs knew it was coming..
If for any reason the market is up around 2% tomorrow, be prepared for another "AMBAC/MBIA are about to get downgraded!" spook story to be applied to the rally with extreme prejudice. I'm not a conspiracy nut but it's been happening too often and in too finely timed a fashion to be purely coincidence. I don't pretend to know the details but Ackman, who's massively short AMBAC, has got to have some friends in the media.
I have to blame something, I wanted to blame my faith in the JReynolds Undication but I couldn't pawn it off on him.. And I'm a douchbag for going to the bathroom because I'm healthy and i drink 2 gallons of water a day? $500 cash says you won't say that to my face. If you do you better have excellent medical coverage.