nosedives

  • 20 May 2010 at 12:22 PM

Will the Swiss Stabilize the Euro?

By Zachery Kouwe

The euro keeps diving to new lows and currency traders are hoping someone, (perhaps the Swiss) will step in to stop the bleeding.

Rumors that the Swiss will move to stabilize the currency have stemmed the tide for now. The euro dropped to $1.2176 against the dollar yesterday, a new low, but has bounced back to around $1.2342 in today’s trading. Continue reading »

  • 06 May 2010 at 2:59 PM

When Will the Pain Stop. . .

By Zachery Kouwe

Thanks a lot Europe. Dow nosedives 550 points, S&P down almost 5 percent.

Procter & Gamble went from a modest 3 percent decline to a 25 percent drop in a matter of seconds. Most likely a trading glitch, but still someone probably made some serious dough. Goldman dropped about 5 percent before regaining some ground.

Update: CNBC Reports a Citigroup trader was responsible for a mistaken “fat finger” trade that caused “million” to turn into “billion.” Citi told CNBC it has no evidence of such a trade.

Financial stocks and tech getting killed. Where will it end? Predict the close. Ready go.