02/25/09

Sold off in the morning, followed by 3 rally attemps, all three met with heavy selling, there is only shorts and short covering in the market.  

02/24/09

Bernanke testifying that the banks won't be nationalised, government will only take minority stake in the banks.  market bounced quite a lot.  

02/23/09

Massive sell off, despite White House effort on saving the citi bank, converting their prefer holding to common shares.  At early on, every bouncing turn was met with sell off, huge put buying from s&p futures.  Market broke all new lows.  Later after noon AIG 60bn lost sealed the fate of new lows on the market, no bounces.  There might be more sell off, and more government attempt to save the market tomorrow.  Mood is very grim.  

02/20/09

The momentum has formed on bank nationalisation, growing political acceptance on nationalisation. And currency market and stock markets are pressuring to take everything to the new lows.  Despite white house trying to save the market, saying that they will try to keep the banks private, late afternoon rally was short lived.  Market is ready to take it lower.  

02/19/09

02/18/09

Stock tried to rebound form the lows, and met with havey selling pressure, see the last 2 hours of trading.  

02/17/09

02/13/09

02/12/09

News came out form the white house on housing rescue, market bounce off the lows.  

02/11/09

Market technical bounce at the lows, rally lack strength.  

02/10/09

Market is very disappointed, all the rumors on the rescue plan were way off, no accounting rule change, no fed guarantee, no details how to do it.  Only fed finance on the purchase of the toxic asset.  Feels like political pressure is moving towards nationalize the banks.  Everyone sees this is too complicated, cost way too much, and it will never end.  Not good for the market.  Major down day.  

02/09/09

Market is waiting for the Sayer of the banking system, pieces of the detail is flying over the places.  Not much went on, the Market pretty high, expectation is as high as the sky.  

02/06/09

Unemployment hit 7.6, 600k people lost jobs, but that doesn't matter, market is convinced that rally is coming, major tech stock is leading the way, tech just hit lows close the tech bubble bottom.  Market never looked back.  

02/05/09

Someone spreads rumor on suspending market to market accounting on NY Exchange, and rumor on Japaneses will intervene.  Otherwise we were going to test the lows.  Unemployment claim hit a record high.  Someone is in a tide spot, needs to push the stock higher.  

02/04/09

02/03/09

Stock lost ground in the morning, then it rallied again, depite the bad news from car sales in Jan.  Market kept going up.  Finished higher, hopes on government help is holding things up.  

02/02/09

Bad bank dealylead the market to test the lows.  Market cap down, but recovered, which is what usually happens, market test the lows, but support held up, and triggered a strong rally.