Remember, we still have the failure of Indymac. That's not good for the tape. It might be a wash at this point.
FRE and FNM are old news now, they will be saved. Exact mechanism tba. IndyMac, FRE, FNM, LEH these are the ones that are known. My question is how much are the markets discounting the next round of collapses [ie the ones that we don't know about].
.."You are on crack. Please cite the last day the futures were up 30 handles or 50 pre-market. I'll be waiting patiently. ".. mave, I can sight the day when they were down 50, and thats was Feb 2008 when the SPX did its plunge and the French trader had there issues. 10 handles is nothing.
I think the IndyMac news will be swept under a rug. Don't get me wrong, I still see this whole thing going down, but Monday? I'm a tad skeptical
Down sure...my comment was about the futures being up 50. Futures just don't move like that to the upside. Not pre-market. This is a sizeable move, especially considering the news is not exactly good. It's just better then expected.
the test is to see how the FRE auction goes tomorrow. sure, somebody will buy the stuff but at what price?
yeah - that's interesting isn't it.... i tried selling gc but after seeing its resilience i gladly took a loss. maybe it is really time to be long gold again. with respect to gses that is effectivelly a bailout - both stocks will be up big + leh will likely ride the wave.
Anyone short these from a low level aint gonna sleep too well tonight. Those short from 20+, well, it was only a paper gain.