Quote:
Originally Posted by teomaxxx
fuck, I covered around 20% of my short positions on friday. I have expected a bounce, because of Bush prop plan and some rate cut talk rumours like usual, but fear has come into the markets faster then I thought.
ABK was downgraded to AA just before close on friday by FITCH.
That day wont be great for any stock.
You better read this article to understand what whole game is about.
http://www.washingtonpost.com/wp-dyn...011803592.html
"Everyone thinks they're looking at the cliff over Armageddon," said Ed Rombach, senior derivatives analyst at Thomson Financial. "If you think the write-downs have been bad so far, the next write-downs could be twice as big." |
Bush's prop plan was a big reason for such a drop in the world markets as it fell much below expectations. If he offered a stronger package that looked at short term and long term goals then the unrest would have been much less severe.