S&P e-mini - what is going on?

Discussion in 'Trading' started by rida07, Nov 23, 2008.

  1. rida07


    S$P e-minis shot up 8 points in 1 minute. Stop-hunting or somebody know something and front running the news?

    Also no resistance whatsoever at the 800 level.

    Help me read the action.
  2. this is your typical LIGHT VOLUME action in a news environment after a significant move in price.....keep working the edges and look for more reaction after the EU market opens tonight.
  3. just reached a deal on Citi apparently.

    300 billion "backstop" on Bad Assets

    20 billion infusion @ 8%

    not sure on equity stake OR management changes.
  4. pretty weak reaction considering....lets see if it will get some legs.
  5. rida07


    link please
  6. It's legit. It was a sudden move, but I agree it seems kind of weak. I think we may tank anyway.

    Fade the rally.
  7. rida07


  8. kxvid


    300 billion backstop on bad assets? That is a boatload of bad assets. I think we tank monday.
  9. All $300 billion in assets is probably worth $0. Or maybe they're really liabilities so it would be a negative net worth.
  10. Citi bailout was already priced into the market after the massive BS move on Friday following the Obama news.
    #10     Nov 24, 2008