Bounce Time

By Barry Ritholtz - November 18th, 2010, 6:06AM

Futures screaming higher after the recent whackage on GM’s IPO and a and a European Union-led bailout package for Ireland (no word on Greece, however).

Bloomberg reports that Stocks rose around the world, the euro strengthened and commodities snapped two days of losses. Treasuries dropped, sending the yield on the 10-year note up two basis points to 2.90%. Silver increased 3.8 percent and oil added 1.8%.

The most recent sell off wiped more than $2 trillion off the value of global equities since the start of last week.

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Category: Markets.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “Bounce Time”

b_thunder Says:
November 18th, 2010 at 7:38 am
Bailout for Ireland? I had no way of knowing it was coming. What I did know is that Turbo Timmy and Brian Sack would pull all the stops to make sure GM IPO has a “successful” 1st day.
Mark E Hoffer Says:
November 18th, 2010 at 7:56 am
speaking of Ag..

26.630 +1.119 (+4.37%)

http://quotes.ino.com/chart/?s=NYMEX_SI.Z10.E

nice ‘double bottom’ at ~25 ..
~~

and, the BOVESPA ..

here http://finance.yahoo.com/q?s=BZQ

Prev Close: 17.52
Open: N/A
Bid: 16.66 x 800
Ask: 16.80 x 800
looks like we’re not seeing “20+”, on this trip..
Mike in Nola Says:
November 18th, 2010 at 8:01 am
Nothing like a good can kicking to spur the markets. It’s all better now.
TrndTrader Says:
November 18th, 2010 at 8:10 am
Dax is leading the way as the strongest of the majors…just a few points away from making a new high for the whole upmove from Mar 09. The Dax/EStoxx50 spread has just gone whacko this year…
VennData Says:
November 18th, 2010 at 8:53 am
…but Fox News told me Obama is a Socialist, why is he selling GM if he’s a Socialist?
obsvr-1 Says:
November 18th, 2010 at 11:42 am
because he is supports the plutocracy, if GM were to stay Gov’t Motors then there is no lobby and political funding nor a bunch of voters for 2012.
obsvr-1 Says:
November 18th, 2010 at 11:44 am
@VennData Says:

…but Fox News told me Obama is a Socialist, why is he selling GM if he’s a Socialist?

— reply

because he supports a plutocracy, if GM were to stay Gov’t Motors then there is no lobby and political funding nor a bunch of voters for 2012.
NoKidding Says:
November 18th, 2010 at 12:47 pm
“why is he selling GM if he’s a Socialist?”

Needs the money to socialize something else… like municipal debt.
We’ll hear that plan in December.
cognos Says:
November 18th, 2010 at 11:49 pm
I thought this was “the big one”.

Please google “hari-kiri”.