Intraday Market Thoughts

Archived IMT (2009.02.12)

by Ashraf Laidi
Feb 12, 2009 16:26

As markets shift attention to Congress' stimulus package away from Geithner's Financial Rescue Plan, there's an emerging perception that markets' attempts to retest the Nov lows could only be delayed (not avoided) by a successful passing of the stimulus package by the House of Reps by tomorrow, Friday 13th. But with House negotiators highly UNlikely to delay such a vote until after the long US weekend, equity indices could be subjected to renewed selling (profit taking before the break).


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