charlie gettin used and abused daily now......first bill ackman and the bears use him to cause a 50 ES point selloff after the last rate cut.........and now the bulls use him to prevent a cascade of selling going into the weekend even though the economic fundamentals have been downgraded and TA support levels breaking one by one.....so instead we got massive short covering instead on an unconfirmed rumor.
I kept trying to fade the rally; lost all my profits for the day and then some. I guess we learn from this to never underestimate the lack of standing orders on a Friday afternoon.
I don't think it is a rumor, looks like we will have something happen soon http://www.bloomberg.com/apps/news?pid=20601087&sid=aj5fqH8i34mg&refer=home Could be that someone knew about the possible deal and had taken a big position to profit from when the news of the deal was released, but their position was taking too much heat today (maybe by design, someone was trying to squeeze them out of it before the announcement) so they leaked it to the media. My conspiracy theory for the month Next week could see both, somewhat of a resolution to the monline crisis, and also the concrete details of stimulus 2.0 and this package will do far more for solving the problems that face the credit and specifically the RABMS market than the checks from stilmulus 1.0 No wonder, despite all the bad news, the market wasn't selling off in a meaningful way.