S&P e-mini - what is going on?

rida07 · Nov 23, 2008

S$P e-minis shot up 8 points in 1 minute. Stop-hunting or somebody know something and front running the news?

Also no resistance whatsoever at the 800 level.

Help me read the action.

AMT4SWA · Nov 23, 2008

this is your typical LIGHT VOLUME action in a news environment after a significant move in price.....keep working the edges and look for more reaction after the EU market opens tonight.

athlonmank8 · Nov 23, 2008

just reached a deal on Citi apparently.

300 billion "backstop" on Bad Assets

20 billion infusion @ 8%

not sure on equity stake OR management changes.

tradingbug · Nov 23, 2008

Quote from athlonmank8:

just reached a deal on Citi apparently.

300 billion "backstop" on Bad Assets

20 billion infusion @ 8%

not sure on equity stake OR management changes.

pretty weak reaction considering....lets see if it will get some legs.

rida07 · Nov 23, 2008

Quote from athlonmank8:

just reached a deal on Citi apparently.

300 billion "backstop" on Bad Assets

20 billion infusion @ 8%

not sure on equity stake OR management changes.

link please

bond tr4der · Nov 23, 2008

Quote from rida07:

link please

It's legit. It was a sudden move, but I agree it seems kind of weak. I think we may tank anyway.

Fade the rally.

rida07 · Nov 23, 2008

Quote from rida07:

link please

nvm - just saw it in the other thread

http://online.wsj.com/article/SB122...tml?mod=testMod

kxvid · Nov 23, 2008

300 billion backstop on bad assets? That is a boatload of bad assets. I think we tank monday.

bond tr4der · Nov 24, 2008

All $300 billion in assets is probably worth $0. Or maybe they're really liabilities so it would be a negative net worth.

MrDODGE · Nov 24, 2008

Citi bailout was already priced into the market after the massive BS move on Friday following the Obama news.