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What time is the announcement of the bailout plan???

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Tom168
Frequent Contributor
I think it won't be approved again and more downside still to come!!! I'm ready in for some short.
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11 REPLIES 11
BRE
Regular Contributor
The fear of what will happen if it fails again will be greater. A long may be in order ... OMO
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_nova
Super Contributor
The new bailout plan is being called a barrel of pork for good reasons. The European markets are allready voting no-confidence with the LIBOR OIS spread at a record 275 (difference between 3 month USD rate and the overnight rate). In Jul 07 it was 8 points...go figure. This rate says that financials couldn't care less whether the bill passes or not, they're not lending money to each other or anyone else for that matter. If the bailout bill passes, sure, you'll see a huge rally but that rally will whiplash within 1 or 2 sessions once the scalpers and short covers get out and the market digests a LIBOR that still screams no confidence. This will probably be the biggest kitty bop we've ever seen. Forget the 700bn, the LIBOR rate is the one to watch as that's where the true confidence measure is. OMO
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_nova
Super Contributor
oh! and Nancy Pelosi said she won't take the bill to the floor until she's sure of it passing, so it's much ado about nothing. The rally is a sure thing but personally I'm not touching it. Will wait for the whip and then target a short
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BRE
Regular Contributor
Yeah, maybe not even two session! We're running with the bears but there's still some bulls to shake out
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scandal
Super Contributor
after the announcement the dow dropped 234 point is 12 minutes... ???
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Not applicable
Is this "Buy on speculation, sell on fact"? Or is it "the bailout bill is done, what's next - oh dear, credit markets frozen, unemployment up, recession..." Or does the market just not like the bill?
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_nova
Super Contributor
DOW just went red... and the Bill is a midget compared to the problem. The PM fix of the LIBOR rate on Monday will tell us much more. Man, whoever took long positions over the weekend are going to poop themselves
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_nova
Super Contributor
the bailout bill is a midget, a politicians free ride and the DOW made it clear today. Next week is probably going to be the the most volatile swingers party since 1929... OMHO
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G_V_V
Super Contributor
There is a bull train coming and the bears are going to be caught in its headlight on monday.
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grandmaster
Frequent Contributor
S$P broken critical support of 1100-now 1099.
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Wizard
Super Contributor
looks like the train crashed before that...!
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