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AIG payback; $1 trillion in Fed support: Friday Shout-out!

What a week, folks! Last week’s rally is still kickin’ (so far), while AIG gets stripped of its executive bonuses and the Treasury issues a cool $1 trillion more in T-bills and other support. Roller-coaster ride ain’t over yet, it seems.

Quite a few new faces battling their way to success this week on the TradeKing Leaderboard. Here’s a shout-out to brentp85, Stock Itch, trace9, phillipdupont, and Mikedigi: great work out there!

What else is hot in the Trader Network? Lots of discussion in the forums around re-instating the uptick rule for short sellers, pro and con. Nicole Wachs will be addressing this issue next week in TradeKing All-Stars, so stay tuned. (Meanwhile, TK’s own Neal Atkins explains the uptick rule in this thread. Our AutoTrade partner BigTrends weighed in on the uptick rule, too.)

Meanwhile, Will Profit is going ballistic as the Obama administration authorizes $1 trillion more of currency to be printed to buy T-Bills and jolt the banks back into lending. Will’s title says it all: “Rollin’ rollin’ rollin’, keep those printin’ presses rollin’”. What’s your take on this next big move?

Over-and-out from TradeKing, everyone – and enjoy your weekend!

[image: 004.I'd give my life to lay my head tonight on a bed of California stars. by bglasgow on flickr]

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Posted by bigdog on 03/20/09 at 09:13 AM

Tag It | 1 user tagged it: TradeKing, AIG, short selling, uptick rule, Friday shout-out

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Will Profit

Member since: Mar 07

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Unemployed pearl and sponge diver in south central Texas. This leaves me quite a bit of time for marathon poker games and binge drinking.
Age: 40's
Xerox (which by coincidence is my astrological sign),, The great Republic of Texas UNITED STATES
Will Profit
Don, thank you for the nod to my post. Seriously though:

Little David was in his 5th grade class when the teacher asked the children what their fathers did for a living. All the typical answers came up -- fireman, policeman, salesman, doctor, lawyer, etc. David was being uncharacteristically quiet and so he teacher asked him about his father. "My father's an exotic dancer in a gay cabaret and takes off all his clothes in front of other men. Sometimes, if the offer's really good, he'll go out to the alley with some guy and make love with him for money." The teacher, obviously shaken by this statement, hurriedly set the other children to work on some exercises and took little David aside to ask him, "Is that really true about your father?" "No," said David, "He's the head of the United States Treasury Department, but I was too embarrassed to say that in front of the other kids."

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bigdog

Member since: Dec 05

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bigdog
Will, as my grandma might've said: you're a real son of a gun. Glad to see our resident muckracker is alive and well!
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El Dorado

Member since: Feb 09

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El Dorado
Not sure about the uptick rule, Owl has reservations about it and I value his opinion.  As far as the government bailing out banks or any one else, I think they stepped beyond their role in our country. A dangerous move that could upset the balance of government power. Can you imagine the lobbying to gain government dollars in the future?
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bigdog

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bigdog
I'm with you there, El Dorado. I think we're all looking forward to the day when the government isn't the biggest mover in the markets, but I guess we aren't out of those woods yet...