..moves were big, look at the overnight:
Looking at the futures, it looks like it's holding. And yet we are still down on the week... Asian markets are up 4-6% as of the time of this post. Here are some plan summaries and comments; still seems sketchy to me, so I'll reserve comment:
o Bloomberg: One
o Bloomberg: Two
o Washington Post
Well, [all this nationalization] is a bit embarrassing... but it's not like we haven't been here before. Have I mentioned that I was assigned by KPMG Peat Marwick as a young consultant to do SoCal real estate valuation and asset packaging for the RTC during the S&L crisis? When will we ever learn? (I think I know the answer to that.)
Volatility isn't over yet -- though some upside vol is undoubtedly welcome. Get up early for the open; awfully big moves. If you have a sense you may want to trim positions, you can be sure you won't be the only one considering it. In addition to tomorrow's normal post, I will put up a short article explaining some of the new statistical features found on the Weekly Rewind.
9 hours ago