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Thursday, September 18, 2008

Dow futures close to up 400 points...S&P futures up 56. Crude and nat gas are higher.

Bids continue to arrive above yesterday's closing prices.

5 comments:

Anonymous said...

Could all this govt. intervention cause any highly leveraged hedge funds with a lot of short exposure to get crushed--thus forcing them to dump their holdings?

Bruce (I just can't seem to break my longer-term bearish outlook--but certainly glad I was buying MLPs this week!)

joewxman said...

when you say dump...i think you mean cover and the answer is yes.

This is a game changer in my view. If this doesn't work...nothing will.

Anonymous said...

Joe, I agree. The shorts, at least for a few days are f*cked.

Anonymous said...

Crazy opening action on MLPs. Volumes are miniscule.

Anonymous said...

According to my broker the SEC emergency shorting rule also applies to a long list of ETF's. If you are short a financial ETF you will be forced to cover. If you are long an Ultrashort fund you will be forced to liquidate. This will kill the ETF business.