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Not sure how media headlines are a good predictor of short or medium term price action. They're worthless.

Bernanke and the Fed governors are trying everything they can to avert 'full blown disaster'. You just don't understand the severity of the situation, that's all.

10y swap spread down nicely today. Less credit panic.

Most options may expire worthless, but that doesn't mean that the minority of options that expire in the money do not more than make up for the majority that expire worthless out of the money. The risk is that you/your friend lose your entire account within a strong uptrend in a matter of days...

Wait a couple weeks and we may or may not eventually fall and he will of course declare victory in hindsight "I TOLD YOU DUMB BULLS WE WILL GOTO 11500, I HOPE YOU ALL SOLD THE RALLY AS I PREDICTED!!!!" Does he make real money trades corresponding with his daily market calls? I'd say no.

"SELL THIS RALLY!!!! DOW GOING TO 11500!!!!!"

No it doesn't. Illiquid for a day is illiquid for a day. That's just like saying it's unreasonable for a broker to send your account into liquidation if you don't meet margin requirements for a day. The Fed did the right thing and did Main Street a big favor.

Not if Lewis finds a couple of White Knights that help him control >50% of the equity.

I read BSC bonds traded at 60 cents on the dollar last Friday. JPM will honor that debt. If you bought truckloads of that debt it's in your best interest to vote the deal through, regardless of the price. Buy up the float at $7 and change, vote the deal through and make a killing in the bonds.

I am not saying there is a 100% guarantee there will be a higher rival bid for BSC. I am just saying as with everything in the markets nothing is set in stone. IMO this whole deal smells like something activist investors could well love to take apart.

How do you rule out beyond a reasonable doubt that Lewis conspires with other shareholders and manages to shore up a couple of Asians or Arab investors that will pay more than $5? You can't.

The risk is that Lewis is getting the support of other shareholders (BSC employees hold ~30%) and will vote against the takeover @ $2 and ask for a little more.

Just go all in short, you will make a fortune!

Aha, so on the way up it's 'rampant inflation', on the way down it's 'profit taking'. Gotcha.

The Fed didn't stop 'printing money' overnight now did they? According to ET logic, why would there be a correction?

"SELL THE RALLY!!!!!!!! DOW SHOULD BE TRADING AT 11500!!!!!!!!!!!!"

Speculation? Say it ain't so. I thought this is a 50 year long commodity bull market with no retracements whatsoever fueled by the Fed printing money 24/7 causing rampant inflation???

Earnings are out. Now you know why.

Calling bottoms and tops is a fool's game. Just trade it day by day.

IMO anybody who gets their investment advice from the media deserves to get burned. Trading by headlines will make you buy tops and sell bottoms.