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AIG falling apart after-hours taking the S&P's down HARD!!! rumors of Treasury putting AIG under a conservatorship, so says Bloomberg news: http://www.bloomberg.com/apps/news?pid=20601087&sid=aoDoJ.oaTv7Y&refer=home However, I do not believe that there is any LEGAL legislation that is...

1.86 - 1.91 as of 5:06 PM EST but there is no LEGAL federal govt. legislation that could put AIG under a conservatorship. besides, the amount of assets at AIG is less than the money that they need for a "bridge" loan. $150 billion of repos coming due in AIG. Not good.

You obviously don't trade the energy names.

Can't wait for another leg down if that is in fact the accurate count! :)

Get real. How do you even have time to place orders when you are so busy posting 30 times today on ET???

XOM just rallied +$3.00 in the last 20 minutes. Oil stocks setting themselves up for a dramatic decline in inventories tomorrow morning when the IEA numbers come out.

Barclays is buying out Lehman's capital markets group and investment banking unit for $2 billion. also, there is HUGE buyingin the OIH and it is really having an impact on the SPX. 5% move in 10 minutes (OIH) Oil service and commodity stocks are going BALLISTIC!!!! DVN!!!

If you don't have the OIH up on your screens, you are seriously missing out what continues to "pump" the SPX on these spikes. Just an FYI.

The SPX continues to get rolied by incredible program trading in the Energy Sector (OIH). Just amazing bouts of buy programs followed by sells . . . but I keep seeing more buying in the OIH than anything else, even with crude going out at 91.37

I would agree with you 100%. As it was, CNBC turned around shortly thereafter and went into "damage" control mode "watering" down his story with the comments of Paulson from yesterday. How convenient.

Anyone that isn't trading the oil service and natty-gas stocks is truly missing out! This is without a doubt, one of the GREATEST sectors to TRADE, bar none. As for CL, there is a "measured-move" that targets $86. :cool:

cash cam back down to 1189.50 before zooming back up to the 1198+ area again. Amazing volatility. Question for the Wavers: Will we head back down for one more BIG flush to the downside, ie.) Wave 5?

Sorry, but the trading is hot and heavy and I don't have a lot of time to explain.

CNBC's Charlie Gasparino's rumor on the NY Fed getting involved with AIG sends the SPX into a moonshot Wave IV up to 1204. 20 minutes later the people on CNBC start to "discount" such talk, reminding viewers that Hank Paulson stands by his words of NOT using govt. money to bail-out AIG...

:D

crude projects a "measured-move" down to $86.00, which incidentally is where the whole rally began back in the second week of February. chart below furnished by Mup of the EWT thread. First leg down was 35.25 Subtract that from 121.30 counter-trend rally high and you get your objective...

Crude will not be able to mount a decent rally until all of those Gulf Coast refineries come back "on-line" and that could take the rest of this week . . . Also, the Paralympics in Beijing end on Wednesday. Measured-move projects to $86.00 :)

A measured-move projects down to $86.00 which is interestingly enough where the whole thing blasted off from back around February 11th. By Wednesday, the Paralympics in Beijing will be over with and industry will be back up and running in the five provinces surrounding Beijing.

Thanks Mup. $86.05, with each leg being 35.25 :) The OIH got absolutely pummeled in the final hour of trading today. Was trading around 156 when crude closed at 2:30PM only to get crushed down to 152.27 at the close. Previous low for the move down was 151.68 on sept. 10th. October...

I was a floor trader trading stock-index futures . . . it was a one way train on that Monday. What was even more difficult to deal with was the incredible volatility, HUGE discounts to cash, and trading halts that occurred Tuesday, Wednesday, and Thursday of that week. Those 3 days were...