Monday, November 5, 2007

Citigroup Faceplant

Well, I know bloggerdotcom is off somewhere shaking his head at the television with the news that Citigroup is going to write down even more... like $6 to $10 billion more for their exposure to CDOs and subprime debt.

Bob Dylan said "the darkest hour is right before the dawn" but I'm kind of getting the feeling that it's 9pm and we're only on our third drink.

Dawn is still a long way off.

Anyway, the futures are gapping down big which, as far as trading is concerned could potentially suck. I'm hoping for a gap down, a strong bounce and then a new plunge to lows.

That, would be "Wombat" worthy.

NOTE: In other news from Blogistan, "the Fly" may be putting the shutters on his blog, due to increasing competion from a certain Dinosaur.

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