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Silver back at lows. Ugh.

Not sure what you're entry is on WB, but WFC seems to have the go with C on the acquisition for $7 a share. We'll have to see if it goes through.

1987 had a bottom after a ~30% sell off, then had a 12% rally for 2-3 days. Then a few weeks later a retest (without going back down to the lows). If I wanted to get long I'd look for that rally, then wait and see how the retest behaves in a couple weeks/months. If it manages to stay above...

Tuesday will be judgment day for MS. Supposedly the Japanese deal is to close on that day and CDS and option IV are speculating that it will fall apart.

I wouldn't be surprised if this 'systematic' touch of this downdraft was caused by letting Lehman fail, with auditors seizing the offshore prime brokerage operations and freezing them, shutting out panicked investors from accessing their multi-billion dollar accounts. LIBOR spikes, Hypo Real...

Great opportunities setting up. All about preserving capital. Stocks are hammered and will setup - sooner as in weeks or later as in a couple years - for amazing low risk/reward gains. Just got to make sure one has enough powder dry around.

It's not when trillions of dollars are going 'poof' around the world at the same time.

The good thing is the only thing that matters is how much money they made, not how loud they were screaming about a crash.

European futures (ESTX + DAX) were down 8.5% early morning. ES went into the red like 3.7% in sympathy.

962.50 in the ES (SP500 future)

Excellent call, Ivan :cool:

Minor drop over here in Europe. DAX just tanked 8%, last 200 points came in like 5 minutes :cool:

I guess the "Trichet is a smart and astute banker" notion is quickly disappearing :p

Haha Can't wait for Weber to comment on how his inflation ghost is nowhere to be seen anymore Long GBS GBM GBL :cool:

I wonder if so many are still thinking "The big Wall St. brokers should be allowed to fail, they shouldn't be bailed out"? I guess very few realize the extreme panic now started exactly with letting Lehman fail and the subsequent spike in LIBOR/TED spread. A balance sheet of $700 bln...

Didn't you say "BUY BUY BUY WHEN DOW IS BELOW 10000". Now you can buy all you want, enjoy :cool:

Where are all the guys that wanted to buy with both hands when we hit 1000 and VIX at 50? What's going on? :confused:

Did you read Ivan's reply at all or just copy & paste your standard response? :cool:

I wonder what the Russians would do if a Western government would invest in a Russian bank. Launch nukes? http://www.bloomberg.com/apps/news?pid=20601087&sid=azotRtS9KH8M&refer=home Iceland Central Bank Receives 4 Billion Euro Loan From Russia Oct. 7 (Bloomberg) -- Russia agreed to lend...

My point was that the news is always absolutely the worst at market bottoms, regardless of if we're close to one now or not. Those waiting for 'good news' and better unemployment numbers before a 'real bottom can happen' are IMO confusing a bottom in the stock markets and a bottom in the...