More like Nov 7th at least. But I might hazard til next Jan 20th when Obama is installed as Czar. UK' ban is til 1/16/09 and you think London town is going to drink tea til then or come here and sell, sell, sell, after Oct 7th? Goodbye UBS. In the meantime got to distract you with the dog and pony show (McCain and Obama) while Paulson and friends make a couple trillion $ Then the real bloodletting can begin. After the fat cats have arbed out via their market making operations and we who have knowledge but no gangster insider power come in and sell, sell, sell, we can be blamed for the death of capitalism. Only THEN can we can join with Mexico and Canada in the creation of the common currency: The Amero. Followed by healthcare for all when the insurance companies are "bailed out" and other ins companies refuse to underwrite and the "working poor" ie middle class can no longer afford policies of any kind. Then, we're done. But cheer up, it's football season. The sheeple arent worried too much as long as chips and dips are fresh, batteries in the remote and Bernanke is on the take, I mean the job. I wonder who the next treasury secretary will be. Attila the Hun?
They aren't creating any more because they can't short, making them closed end funds, not ETFs. Heavy demand will drive them to premiums and you'll be effectively shorting the stocks lower than they trade in the stock market. It'll cost ya'.
How much have you dealt with the SEC? I've seen nothing that tells me that they are obviously smart. I see a bunch of incompetent tools trying desperately to appear relevant. How is a perfectly functioning market in need of "Martial law"? Why does is a market reflecting justifiably reflecting lower valuations in need of manipulation and a market soaring to bubble heights a-okay? If we need market gestapo to stop a falling market, then we should have market gestapo to stop a rising one. But then we effectively have price controls and we don't need a market at all. Close them down. At least it's more honest
I had a stock CREE went up a lot without any news on Sep. 17 so I set up a screen of stocks from the naked short list and saw 50% of the stocks on the list went up compared with 5% positive on my other stock screens. Sep 18 confirmed the theory and also the news of short banning came out. I just don't understand why there are a lot of traders caught surprised by the move because market knew that 2 days ahead of the news.
Actually the sell off in Oct 87 was faster and a higher % by a long shot. How about 29? Well we actually really went down a lot more. We are currently at the highs of 05 or about 20% off the all time high. Not really much of a crash when you put it in history terms. Information flow keeps the markets MORE stable not less as the unknown is what causes markets to really crash.