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S&P went on a downgrade spree of banks yesterday, but no matter, they're surging premarket...

S&P went on a downgrade spree of banks yesterday, but no matter, they're surging premarket following the international central bank move to boost liquidity. BAC +7.1%, C +6.5%, JPM +5.9%, WFC +3.5%, GS +5%, USB +3.5%. DB +9%, HBC +5.2%, BCS +10.3%, LYG +10.6%, STD +6.4%. STOXX Europe 600 Banks Index +4%.
Comments (7)
  • Bond raters, and their self-inflated status, have become tiresome and almost irrelevant, with their daily threats, commentaries, "negative outlooks," and letter-rating shuffles. After a while, it starts to become apparent that they have no bearing on the real state of the world, and are just another opinion mill, no different than the equity-side analysts.
    30 Nov 2011, 08:58 AM Reply Like
  • I think todays Central Bankd action was because of BAC was going bankrupt...maybe today....and we all know a Banker can not lose money...
    30 Nov 2011, 09:00 AM Reply Like
  • I resisted from all the fear that has been spreaded all over the financial news, resisted Cramer's call to sell the banks, resisted the Fast money guys call to sell the banks, but I broke last evening After Hours after i heard about the Bank downdrade and sold the bank stocks i owned! Then this morning, all bank stocks shot up 8%! You gotta be fvcking kidd(ll)ing me! This is a conspiracy and i take this attack on small investors very personally!
    30 Nov 2011, 09:24 AM Reply Like
  • Look in the mirror for the mastermind that conspired in your bad decision.
    30 Nov 2011, 09:32 AM Reply Like
  • You have to have enough confidence in your investment to not only hold through the bad news, but to actually BUY MORE if possible. I learned that the hard way. Shutting off CNBC is a highly recommended first step.
    1 Dec 2011, 12:04 AM Reply Like
  • US bank were downgraded yesterday. US govt is bankrupt. European govts and ECB are bankrupt.


    Since when did enabling bankrupt debtors to borrow more at lower interest rates resolve insolvency, shrinking economies, and flight of capital?
    30 Nov 2011, 11:14 AM Reply Like
  • "Shutting off CNBC is a highly recommended first step."


    Best advise this morning!
    1 Dec 2011, 06:57 AM Reply Like
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