The price action in the equity markets today was nothing short of impressive. We literally had a W shaped trading day where stocks opened down 600 points, rallied back into positive territory, sold off again by another 600 points before recovering most of its losses by the end day. The volatility that we have seen [...]
Entries Categorized as 'forex blog'
The Case for a Bounce
October 10, 2008
Short Squeeze Triggers Sharp Volatility in Stocks, FX Traders Look for Buying Opportunity
October 10, 2008
For the first time since March 2003, the Dow Jones Industrial Average broke 8000 at the open of the US markets. However just as quickly as stocks dropped 600 points, it recovered more than half of its losses in the first 15 minutes of trading and actually moved into positive territory 35 minutes into [...]
Historical Dow Charts
October 10, 2008
The Wall Street Journal has some great charts today that I think are important for historical reference:
The worst market slumps in the past 100 years
Top 10 Point Drops in the Dow
Is There a Fix? Dow Down 678, More Losses in FX
October 9, 2008
Another day, another plan from the US government that has failed to impress the markets. This morning, the Treasury said that they will be injecting capital directly into banks by taking an equity stake. In theory this announcement should give banks the peace of mind to start lending as a direct capital injection from [...]
Coordinated Interest Rate Cuts - Too Little, Too Late?
October 8, 2008
We have been literally begging the Federal Reserve, the European Central Bank and the Bank of England to work together to stem the bleed in equities and they have finally done it (What is the Fed Waiting For? And Panic Selling in FX Begs Coordinated Easing). For the first time since Sept 2001, central banks [...]
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