While the afore mentioned move should infuriate fiscal conservatives, I think the Repubs stopped caring about them how many trillions ago? I agree its buying votes.
http://biz.yahoo.com/ap/080124/economy_stimulus.html
"I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy. But if it does not, then there will be more to come," Pelosi said.
More free money!!!
i had a disastrous experience trying to open an account with them in December. Between the time of wiring the money in and out I think the account was open for 2 weeks. (I had to wait 3 days to close the account for the trades I did do to settle, what broker does that?)
i faded yesterday's gap down, still holding some took profits on the close yesterday on 1/2 tho, still up 3% on remaining lots, will stop out if we dump on the rest.
I'm not an advocate of a loose FED, however I am referring to just trading.
I find it hard to believe that the FED/government would allow the market to open down 500 pts and do nothing.
We've seen the fed "active" on a far less weak tape than this one. What happened to price stability?
Thoughts? As of now I would say less than 5 %. Will they cut 100 bp? They have to "shock" the market.
maybe a global bailout like ECB+Fed coordinated?
As a side note, has anyone seen a 500 gap in dow futures? I cant recall it.