What just happened? Bad news on the horizon...

athlonmank8 · Jan 30, 2008

What happened just now? They didn't pull the plug on MBI and ABK did they? I was out to lunch.

They've gotta downgrade them eventually. Don't chase these runs BTW.

Warrior4g · Jan 30, 2008

what just happened,what do you mean?

athlonmank8 · Jan 30, 2008

+200 to negative?

Idk you tell me what i mean.

Jayford · Jan 30, 2008

No news, this is a WEAK market!

In the long run, I don't think the FED CAN do anything. Gotta shake out the crap.

Warrior4g · Jan 30, 2008

ok. i saw that as well. i think the market rallied and sold on the news. reality is kicking in and the market realizes the feds act of desparation may prove to be futile.

Eliot Hosewater · Jan 30, 2008

Fed pushed the string, but the string didn't go where they wanted it to.

athlonmank8 · Jan 30, 2008

Thanks for the info guys.

Im hearing it's over bond AAA ratings.

We'll see.

Im bearish but I didn't expect the market to fall like it did, that's all.

Landis82 · Jan 30, 2008

Quote from Jayford:

No news, this is a WEAK market!

In the long run, I don't think the FED CAN do anything. Gotta shake out the crap.

You obviously have no idea what you are doing . . . Fitch, the rating agency downgraded FGIC at 3:34PM Eastern. S&P futures are trading at a 15 point DISCOUNT to cash right now.

And you actually trade for a living?