Geithner to hold briefing 8:45 a.m. EDT on Monday on toxic assets plan

So how do you think this will affect financials tommorow?

It would seem to me its too early to tell- we gotta wait and hear what is said.. I mean Geithner has tanked the market before..

??
 
Quote from TMcKenna:

I am short some bank stocks...
I have a strong feeling I'm gonna get fkd tomorrow..
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Well, at least you get 45min of premarket before he talks.

Then again, what's his track record so far?

Haven't the financials tanked 4 out of 5 times after he opens his yap?
 
Quote from quotetrader:

So how do you think this will affect financials tommorow?

It would seem to me its too early to tell- we gotta wait and hear what is said.. I mean Geithner has tanked the market before..

??
More...
He's been butchered for lack of specifics previously. If there are even 1 or 2 specifics in this plan (even costing a trillion) the financials and markets in general will rally on the "transparency" issue. "Good or bad, at least investors have transparency!!" Overall it has to be viewed as good. Besides, news is just fluff so technical indicators can reach their marks anyway. 820 to 840 seems likely for ES in the next couple weeks including possible pullback to 740's. Just speculation on my part... I don't believe this is the bottom but another bubble in the making... but that's more speculation on my part, sorry. I'm a noob anyway, so ignoring me is best. :cool:
 
I don't know but I think this will create the real stress test for the banks existing assets now. If this fails to stimulate the demand needed to create bids that are at the level of the banks marks it looks like the fed a treasury will be forced to nationalized or let some of them fail. Oh and the FDIC which said friday it almost has zero funds now will now be part of this. Sounds a little wierd to me. Maybe this is why the futures are not skyrocketing tonight.
 
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