Alert: C Down 36% before market open
Shares of Citigroup has down 36% at 9:15am EST due to the news of government boosting its stack by converting preferred shares to common shares. S&P futures down 2.1%. Be ready for a rough day ahead!
Monthly archives: February, 2009
Bouncing balls…
I am not sure how many short-term traders were fooled by the market today, but I confess I am one of them, and paid a pretty hefty price for it. All was set to rise this morning, when the market initially opened. After all, we’ve had some pretty positive news from the Federal Reserve regarding …
Rebound was all we were hoping for
The market was a little hesitant towards going up this morning, and I was a little worried because the consumer confidence and home prices data did not look so good. Consumer confidence was the key for economic recovery, which has plunged to the lowest since 1967, when the index was first measured while home prices …
Panic or not?
I was literally watched with fear and frustration today as S&P slide down below 750 in the afternoon, and dropped 1% in the final hour of trading. The last time S&P went this low was in 1997, almost 12 years ago, during Asian financial crisis. What was really scary to me, this time, is that …