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Congress is so clueless they don't ask the RIGHT questions . . . Just listen to the questions that are being asked. That tells the entire story.

A "measured-move" targets 1182 on the SPX. Either way, that's where we are heading first.

I would tend to agree.

Yes.

He's making it up . . . Just like when he posted a FAKE screen-shot of a "make-believe" ES position.

I'm not sure that I totally agree with that statement. There are plenty of names in the OIH that can be traded successfully that are not associated with the current banking mess. And they are NOT AT ALL RANDOM since they are strongly correllated with the underlying commodity. DO, RIG...

Exactly. And I believe that there was an open interest of 23,000 contracts in the October contract coming into today. 34,294 October contracts traded today. FYI: For what it's worth Nymex E-Mini October Crude expired on Friday.

That's the front month, Sir. October expired today and had 60,000 open interest heading into the last session, providing quite a squeeze. Nov. now front month.

Yep. Just take a look at the short interest in October. 60,000

That "little" C could be pretty scary! :D

This is not that difficult to understand given the recent events. It's basic supply/demand. Crude Oil got weak because all of the refineries went "off-line" during Hurricane Ike. They are mostly now back "on-line" and so they can now DEMAND/PURCHASE crude oil to process into gasoline...

Huge rally from double-bottom intra-day back up to 168.00 Incredible surge in the Oil Service and Energy complex. :cool:

Quotetracker via TD Ameritrade is still up and running, but the MODIFY and CANCEL functions on the transaction window are blocked-out, and not working.

The SKF folks use counter-parties with swaps in order to construct the SKF. These swaps just went WAY UP in price ( with the counter-party ) because of the inability to short the financials and this is what the freaking Govt. has no clue about. Why can't they just bring back the "uptick"...

Yep, and it will undoubtedly raise the cost of "hedging". These guys are morons. Total Morons.

This is so freaking stupid of our Government. If short-sellers on LEH were the devil, and there was a solid business model there with a thriving business and VALUE, then why didn't any BUYERS emerge over last weekend after they looked at LEH's books? Answer: Those T3 Level Assets were...

Thanks for the insight! :)

Short-Selling on 799 financial stocks has been halted, immediately as per the SEC. Go to the SEC website to read the order.

Yes, but now the market-makers have to wait for an uptick . . . I'm sure that will work REALLY well in a down market when people come in buying puts and the MM is unable to sell stock immediately ( waiting for an uptick ) to hedge. Welcome to France folks! :(

Stock has 73% of the float sold short, about 22 million shares . . . 3.2 million traded yesterday and a mere 1.1 million traded the day before that. Stock is trading $8.50 today on a mere 1.1 million shares. Market makers spreads in the call options are so big that you can drive a "truck"...