Ho John Lee’s Weblog

Looks like no one was impressed by Bernanke’s non-intervention on Thursday and the Bush/Paulson send-everyone-800-bucks stimulus package. US markets are closed for Martin Luther King Day, but the rest of the world is open, and down hard. DJ futures are showing something like -520 for tomorrow’s open, around 11586. The NYSE circuit breaker rules don’t kick in until a 10% move (1350 points), which would be somewhere around 10740. (The thresholds get reset every quarter.)

Don’t think we’ll see that tomorrow, but the way things have been going recently, it’s not out of the question. I wouldn’t be surprised to see a last-ditch central bank intervention tomorrow morning before the open, either. I think they missed their chance on Thursday, but I also don’t think the Fed has the luxury of waiting until the official FOMC meeting January 29 for their next move.

This entry was posted on Monday, January 21st, 2008 at 4:12 pm and is filed under General, Finance/Investing, Front Page. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.