Frankfurter said:VW continued that crazy way today. It peaked at ~1000 per share, so going by market cap was afaik by far the largest company in the world. Currently it's at ~750, so still 45% up compared to yesterday (where it had +150% :lol ).
Btw. apparently the reason for this crazy thing going on is that certain Hedge Fonds apparently need to buy Volkswagen at EVERY price to fulfill 'orders' or sth. like that by Porsche. I really don't get it, but some guys in German boards say that Porsche more or less trapped the Hedge Fonds by announcing their current state at overtaking VW (less than expected shares are still available on the market).
Ether_Snake said:EDIT: I think this is a fool's rally, there is only bad news today. This rally is from people who see virtual "low value" hoping that everyone does the same so they can sell a few hours later. That's what I think.
*sigh* it is looking that way. I'm just going to let my holdings marinate for awhile. Hopefully I can just break even by the end of next year.ArtG said:More than likely. I don't believe any rally we get will last through a single trading session.
Deku Tree said:Everybody hates Zecco: http://www.zecco.com/forums/327/ShowForum.aspx
Deku Tree said:Everybody hates Zecco: http://www.zecco.com/forums/327/ShowForum.aspx
argon said:It's hard to believe that the Dow hasn't had two successive up days in over a month. I'll go out on a limb and guess the market will rally a bit from here. It has dropped too far, too fast.
Considering the volatility and nothing specific driving the surge, there's no reason to expect it to stick.lil smoke said:Not really woth getting excited over though, is it? This is just a small % of what needs to be recovered. Or is DOW @ 8700 a good number for you guys now?
Frankfurter said:VW continued that crazy way today. It peaked at ~1000 per share, so going by market cap was afaik by far the largest company in the world. Currently it's at ~750, so still 45% up compared to yesterday (where it had +150% :lol ).
Btw. apparently the reason for this crazy thing going on is that certain Hedge Fonds apparently need to buy Volkswagen at EVERY price to fulfill 'orders' or sth. like that by Porsche. I really don't get it, but some guys in German boards say that Porsche more or less trapped the Hedge Fonds by announcing their current state at overtaking VW (less than expected shares are still available on the market).
avaya said:The Hedge Funds got fucked. This will be a textbook case study on the short-squeeze for decades. Just ridiculous. Saw it hit 1,015Euro's at one point on my Reuters :lol
btw are you an M&M now? :lolsonarrat said:No reason not to expect a further rally at the bell given the recent trend.
That's what my bro has been warning me about... he says to look for a 6000 bottom.oatmeal said:A co-worker walked in to my office today with a chart on his laptop from some newsletter that apparently costs 400 bucks a year to subscribe to, and has insider analysts giving the scoop on the current markert. Anyway, the article in question described how we are following the Great Depression almost to a T. The chart showed an overlay of both of them and how similar they are.
He concluded that in a few weeks, we will be much much much lower than we are now.
Thoughts?
lil smoke said:btw are you an M&M now? :lol
lil smoke said:That's what my bro has been warning me about... he says to look for a 6000 bottom.
Ether_Snake said:I don't get what happened there.
avaya said:Short-squeeze.
Porsche announced they used derivatives to build a ~75% stake in Volkswagen, pretty much polishing off the takeover that has taken forever.
Hedge Funds were generally short car makers because of the current climate. They all rushed to cover their short positions, buying anything in a mad rush to make sure they don't destroyed. Short-squeeze. The herd behaviour caused a huge spike in the price as they applied overwhelming buying pressure.
It's not something to be happy about, it's market manipulation taken to the extreme.
hermeez said:I saw this a few weeks ago, don't remember the source though.
hermeez said:I saw this a few weeks ago, don't remember the source though.
porsche.gif
Porsche said:"The disclosure should give so-called short sellers... the opportunity to settle their relevant positions without rush and without facing major risks."
Kifimbo said:Today's rally reminds me of this.
avaya said:LIBOR is coming down very steadily and it's continuing to do so.
Equity volatility is expected since no one really know's how to price at the moment.
avaya said:Second highest rise in history.
If the Fed cuts by 50bp or more tomorrow we will continue this and continue this further if ECB and BofE continue to cut.
Only thing, there was basically no volume today.
Forbes said:The yen will also likely pressure the company's projections this year, which are currently based on an assumed exchange rate of 105 yen to the dollar and 160 yen to the euro. On Wednesday, the dollar was trading at 96.65 yen, while the euro stood at 122.6 yen. Credit Suisse estimates Nintendo's foreign exchange losses at 52.5 billion yen ($533.4 million) in the July-September period.