Man...we usually do not see such a quick stabilization, but the day ain’t over yet Ya think maybe yesterday’s action in overeseas markets market was planned (timed) as US markets were closed yesterday? That is, to give US investors (banks and all) time to re-position to liquidate for the upcoming margin calls? The big fund guys, I mean? Most individuals (small time independent investors) do not have access to futures.....all they could do was put a sell order in for this morning.
No. Another couple of funds in England went out of business or stopped allowing withdrawals because they're about to, BAC results are in the crapper, Ambac was downgraded from AAA, stuff in Japan ran up on their Friday in anticipation of GWB's Friday-noon speech being well-received here and it wasn't, etc.
Those are just the ones that come to mind immediately.