wiegie Posted October 28, 2008 Share Posted October 28, 2008 up 9.78% right now (had been trading at about +2% for the early part of the day) Quote Link to comment Share on other sites More sharing options...
wiegie Posted October 28, 2008 Author Share Posted October 28, 2008 now at 10.28% up (since I last posted a minute ago) Quote Link to comment Share on other sites More sharing options...
wiegie Posted October 28, 2008 Author Share Posted October 28, 2008 It will be interesting to see what happens if the Fed comes in tomorrow with a rate cut of anything less than 75 basis points. Quote Link to comment Share on other sites More sharing options...
Chargerz Posted October 28, 2008 Share Posted October 28, 2008 Â Maybe my retirement accounts aren't doomed after all. Quote Link to comment Share on other sites More sharing options...
TimC Posted October 28, 2008 Share Posted October 28, 2008 Crisis over!! Â (until it drops 10% tomorrow) :yawn Quote Link to comment Share on other sites More sharing options...
bushwacked Posted October 28, 2008 Share Posted October 28, 2008 Concidence? Â I think not. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted October 28, 2008 Share Posted October 28, 2008 Man, the title scared me... For a minute there I thought them dirty muslims had blowed up the stock exchange!!!!! Quote Link to comment Share on other sites More sharing options...
wiegie Posted October 28, 2008 Author Share Posted October 28, 2008 This has to have something to do with it (and it is good news) Fed Spurs Record Surge in Longer-Term Commercial Paper Issuance By Bryan Keogh  Oct. 28 (Bloomberg) -- Sales of longer-term commercial paper soared 10-fold after the Federal Reserve began buying the corporate IOUs, a sign that the central bank's efforts toward unlocking the market may be working.  Companies yesterday sold 1,511 issues totaling a record $67.1 billion of the debt due in more than 80 days, compared with a daily average of 340 issues valued at $6.7 billion last week, according to Fed data. The central bank probably absorbed about $60 billion of the total, said Adolfo Laurenti, a senior economist at Mesirow Financial Inc.  ``That's the very first really good news in quite some time,'' said Laurenti, who is based in Chicago. ``It's probably something the government can do and the normal investor would not otherwise do.''  The Fed began buying commercial paper from companies yesterday to reduce rates, lure back investors and unlock the market, which seized up last month following the bankruptcy of Lehman Brothers Holdings Inc. http://www.bloomberg.com/apps/news?pid=206...id=aKbsT.CRaT1Q Quote Link to comment Share on other sites More sharing options...
muck Posted October 29, 2008 Share Posted October 29, 2008 Market lost nearly 5% in the final 10 minutes of trading to finish -1% (ish) on the day. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted October 29, 2008 Share Posted October 29, 2008 Remember kids, keep your arms and hands inside the car for the length of the ride. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted October 30, 2008 Share Posted October 30, 2008 i lol'd Quote Link to comment Share on other sites More sharing options...
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