Just how bloody will tomorrow be?
So the question is, just how bad will tomorrow be? How bloody will tomorrow be.
So the question is, just how bad will tomorrow be? How bloody will tomorrow be.
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Dow futures are down 300 already. I suspect that we can possibly see a -400 or even -500 day... That is, unless we hear some positive news to stop the bleeding.
No. We're not going to see a -400/500 day. That's going to be tame. I have a feeling we are going to come close to it being circut breaker monday. This is the first time in just about 20 years (21 to be exact), that we may in fact have, oddly enough, Black Monday.
The circut breaker, btw, for those that don't know, is the NYSE failsafe for massive losses in the market. There are 3 levels, 10, 20 and 30% value loss. When they rebalanced it for the 3rd quarter, they set the bar to 1200 points. Once a circut is triggered, they halt trading. Depending on the time of the trigger activiation and the type of trigger, the results may vary. Either way, if a 30% trigger happens, the market shuts down completely. End of trading day.
I think that the ML/<abbr title="Bank of America Merrill Lynch
">BoA deal will help the markets from seeing a -1200 daySo what do you do? -I work for an investment banking firm. Oh okay; you are like my brother, he works for Edward Jones. -No, a college degree is required in my profession
Futures flirting with their lows.
-360 and counting
but i dont think were in full panic mode tomorrow....at least not just yet. it seems to me as i skim the past few weeks of news that lehman was on the brink for some time, a formal filing shouldnt be a surprise. i think well definitely be down tomorrow but the BofA purchase of Merrill should take the edge off immediate panic. the focus will be on analyzing and digesting the implications of this weekend and questioning the real state of the remaining standalone ibanks.
my guess we'll end up somewhere in the -150 range by the end of the day tomorrow. futures always go crazy especially when there is no liquidity on weekends (read SocGen Sunday). i highly doubt we'll see even a single circuit breaker being hit.
I think the news about AIG and potential rating downgrade will be big also. If there is bad AIG news that will bring down market confidence even more.
www.sharpeinvesting.com
watch out for falling/leaping bankers on your way to and from the office....
-150 Yours!
Just like it's 1987 namesake, tomorrow's Black Monday will be another black swan to throw into the mix.
"hurricane ike has turned into a cat 5 and is heading towards the financial markets"
Wow thats awful, but hilarious.
DAX futures open -240 -3.3%
Do you think we will see the DJIA sub 10000 any time soon?
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