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What just happened?

Old 11-21-2008, 01:06 PM
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Default What just happened?

Flat or down market, then in the last hour - whack, up 6.55%!
Old 11-21-2008, 01:08 PM
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Default Re: What just happened?

You can't figure this stuff out - markets race up or down on bits of news or no news or move in the opposite direction from what you'd expect.
Reports are that the uptick is on news that Obama will name Timothy Geithner (NY Fed Reserve Pres) as Treasury secretary. I'm sure because I said that this thread will get moved to the bilge - sorry 'bout that.
Old 11-21-2008, 01:10 PM
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PPT
Old 11-21-2008, 01:12 PM
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Default Re: What just happened?

No reason to move the thread. I think that Geithner was a good choice and the market sees it positively. Can't complain about a little volatility to the upside for a change!
Old 11-21-2008, 01:50 PM
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Default Re: What just happened?

It will make up for the up on monday
Old 11-21-2008, 01:55 PM
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Default Re: What just happened?

ladyjane - 11/21/2008 4:50 PM

It will make up for the up on monday

Oh come on! Let me roll around in something positive for the weekend!!!!!
Old 11-21-2008, 01:58 PM
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Default Re: What just happened?

Shit, I was out by then. I wanted to make a play at GE and missed it...

CMP
Old 11-23-2008, 04:48 AM
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Default Re: What just happened?

Giethner..................Is Public enemy number one

The leaked information and a big goose on the S&P Futures, spooked the shorts into a last minute cover on Friday afternoon. The Media already had the story ( who owns the financial media?) ready.

The cover story for market manipulation was......
Wall Street loves OB's pick for Treasury and the market loves it.

The Treasury trades S&P futures VIA the Exchnage Stabilization Fund, Very seriuos technical and psychological market levels had been breached on Thurs and Fri.

Forcing the shorts to cover regained those technical levels..............Leakin the new Treasury secretary info was a good cover to bust the shorts nuts with 15 minutes to trade out of thier positions

Things are really getting out of control
Old 11-23-2008, 04:10 PM
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Default Re: What just happened?

The messiah spoke??

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