Market reaction to AIG bailout

Discussion in 'Trading' started by chrismontez, Sep 17, 2008.

  1. The market ran up yesterday on the rumour the Fed would bail out AIG, and is now dropping on confirmation the bailout is true.

    I understand the rationale behind the "buy the rumour sell the news" cliche. But who would be selling today after buying yesterday?
  2. Everyone that thought that, that would <i>somehow</i> put a bottom into the market.gA