i am being serious. one of the techniques of recognizing a bottom is when stocks stop going down on bad news and actually start to go up. i am just making an observation which may or may not be helpful
Goofer,
I think we're just seeing the tip of the iceburg. Ya know how you pull a single thread on a sweater and whole thing starts to unravel....well this just might be that thread:
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TOKYO, Nov 9 (Reuters) - A collateralised debt obligation (CDO) managed by State Street Global Advisors has started selling assets, ratings agency Standard & Poor's said late on Thursday, raising worries that a wider array of structured securities may do the same.
S&P said it slashed its ratings on Carina CDO Ltd's top tranche of securities by 11 notches to the junk level of BB from the top-notch triple-A. S&P also chopped its ratings on the subordinate levels of the CDO, eight all the way to CC.
The trustee of the Carina CDO has started selling the asset-backed securities making up the CDO at the direction of the structure's noteholders, S&P said.
"We believe the liquidation process has begun," S&P said in its press release.