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26 comments on Katrina on Monday morning

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spooky on August 29, 2005 - 6:52am Permalink | Subthread | Comments top
From George Ure over at Urbansurvival:

I expect the Fed has been buying futures like crazy in an attempt to use arbitrage to leverage the market up at the open - which will give the commercials a chance to load up on shorts and then drop the market over the next few weeks as storm impacts are "discovered."

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Glenn on August 29, 2005 - 7:07am Permalink | Subthread | Parent | Comments top
Not a bad theory. Never thought the market would go UP today of all days. Dumping my tech stocks.
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Anonymous on August 29, 2005 - 7:17am Permalink | Subthread | Parent | Comments top
The urban survival "rumor" is has even less basis in fact than the average conspiracy crap hurled around here. The Fed is not buying stock futures I assure you.

I think when "peakguy" and a few others look back at ther performance over the last 24 hours, they will (I hope) be ashamed. Half blaming the authorities for everything, half obsessing about their investments and how they can profit from this disaster - and if they are doing what they are saying, making mostly wrong bets.

One more black eye for the lunatic fringe of peak oil

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