Govt bans 'short selling'

[A Dashing Blade]

FTSE up 6% in 34 mins so far!!

Bank stocks up as much as 60%

It's an options and futures expiry day today (11.00-11.30 Europe, think it's COB in the US) so potential for whippyness is deffo there.

 

[Kanda]

It's an options and futures expiry day today (11.00-11.30 Europe, think it's COB in the US) so potential for whippyness is deffo there.

Jumped to 8%

Reckon it'll hold up??

 

[kabbes]

So, basically, the short sellers of the early week have done very nicely. Oh good.

 

[neville]

I'd settle for dragging them out of their offices one random Tuesday morning and drowning them in the Thames.

Different strokes and that . . .

Why a Tuesday

 

[kabbes]

Revolutions always happen on a Tuesday. The revolutionists are too busy sleeping on the Monday.

 

[danny la rouge]

Jumped to 8%

Reckon it'll hold up??

Footsie, Dax etc all still quite happy.

Which does beg the question whether the last 48 hours, with the swift take-over of HBoS and the concomitant loss of up to 40, 000 jobs was necessary?

 

[A Dashing Blade]

Reckon it'll hold up??

Personally I can't see it medium term, there's still $1600bn (?) of Lehman's debt owned somewhere that has to be written off + this US rescue plan
is very very vague ie at what price will the toxic be bought and who the f**k
would buy it later on and, again, at what price.

But that's just a personal view mind.
The best writer on all this is, imo, Willem Buiter.

 

[Dan U]

Footsie, Dax etc all still quite happy.

Which does beg the question whether the last 48 hours, with the swift take-over of HBoS and the concomitant loss of up to 40, 000 jobs was necessary?

i was wondering that as well!

 

[laptop]

last night the New York attorney general, Andrew Cuomo, announced an investigation into a "significant number" of complaints of short-sellers conspiring and spreading bad information.

http://www.guardian.co.uk/business/2008/sep/19/regulators.hbosbusiness

Hmm... an investigation, not proof. Yet. And a move to bolster market sentiment.

 

[Darios]

Footsie, Dax etc all still quite happy.

This is no surprise if you can only take long positions.

 

[Kanda]

This is no surprise if you can only take long positions.

It's only 29 stocks you can't short on:

http://www.fsa.gov.uk/pubs/handbook/list_instrument200850.pdf

1 ADMIRAL GROUP PLC
2 ALLIANCE & LEICESTER PLC
3 ALLIANCE TRUST PLC
4 ARBUTHNOT BANKING GROUP PLC
5 AVIVA PLC
6 BARCLAYS PLC
7 BRADFORD & BINGLEY PLC
8 BRIT INSURANCE HOLDINGS PLC
9 CHESNARA PLC
10 EUROPEAN ISLAMIC INVESTMENT BANK PL
11 FRIENDS PROVIDENT PLC
12 HBOS PLC
13 HIGHWAY INSURANCE GROUP PLC
14 HSBC HOLDINGS PLC
15 ISLAMIC BANK OF BRITAIN PLC
16 JUST RETIREMENT HOLDINGS PLC
17 LEGAL & GENERAL GROUP PLC
18 LLOYDS TSB GROUP PLC
19 LONDON SCOTTISH BANK PLC
20 NOVAE GROUP PLC
21 OLD MUTUAL PLC
22 PRUDENTIAL PLC
23 RESOLUTION PLC
24 ROYAL BANK OF SCOTLAND GROUP PLC
25 RSA INSURANCE GROUP PLC
26 ST JAMES'S PLACE PLC
27 STANDARD CHARTERED PLC
28 STANDARD LIFE PLC
29 TAWA PLC

 

[Darios]

It's only 29 stocks you can't short on:

I didn't know that, thanks.

 

[butchersapron]

Yeah go on, go fuck up some old boys pension :X

(sorry, i meant helpfully reveal the true value of)

 

[Roadkill]

Footsie, Dax etc all still quite happy.

Which does beg the question whether the last 48 hours, with the swift take-over of HBoS and the concomitant loss of up to 40, 000 jobs was necessary?

Indeed, but it also begs the question of how much further this has to go. There's still a whole load of bad debt out there...

 

[Kanda]

There's still a whole load of bad debt out there...

Which the Fed and the US Treasury are going to try to funnel off somewhere, hence the big market moves today.

http://www.bloomberg.com/apps/news?pid=20601103&sid=am.XqrSCUntI&refer=news

 

[kabbes]

It's only 29 stocks you can't short on:

YEEES WE'RE ON THE FUCKING LIST.

Take that, you shorting fucks.

 

[Darios]

YEEES WE'RE ON THE FUCKING LIST.

Take that, you shorting fucks.

Are you listed on any other exchanges?

 

[kabbes]

I ain't saying shit.

 

[Darios]

I ain't saying shit.

Haha. Fair enough.

 

[brasicritique]

Selling midgets.

verticalist

 

[Darios]

FT

The outlook for Bradford & Bingley dimmed further this week after its credit rating was downgraded to just one notch above junk status by Moody’s.

 

[Kid_Eternity]

verticalist

Hey I'm 6'3"; everyone is a midget to me.