What just happened? Bad news on the horizon...

Discussion in 'Trading' started by athlonmank8, Jan 30, 2008.

  1. What happened just now? They didn't pull the plug on MBI and ABK did they? I was out to lunch.

    They've gotta downgrade them eventually. Don't chase these runs BTW.
  2. what just happened,what do you mean?
  3. +200 to negative?

    Idk you tell me what i mean.
  4. No news, this is a WEAK market!

    In the long run, I don't think the FED CAN do anything. Gotta shake out the crap.
  5. ok. i saw that as well. i think the market rallied and sold on the news. reality is kicking in and the market realizes the feds act of desparation may prove to be futile.
  6. Fed pushed the string, but the string didn't go where they wanted it to.
  7. Thanks for the info guys.

    Im hearing it's over bond AAA ratings.

    We'll see.

    Im bearish but I didn't expect the market to fall like it did, that's all.
  8. You obviously have no idea what you are doing . . . Fitch, the rating agency downgraded FGIC at 3:34PM Eastern. S&P futures are trading at a 15 point DISCOUNT to cash right now.

    And you actually trade for a living?