Aug. 17, 2007 Pre-market Activity

Looking at the pre-market trading now that the Fed has lowered the discount rate we see the following stocks trading:

CFC closed at $18.95, trading at $22.28 on 3.3 million shares.

GS closed at $169.85 trading at $178.09 on 666,000 shares.

BSC closed at $116.44 trading $123.80 on 353,400 shares.

LEH closed at $54.75 trading at $57.98 on 475,000 shares.

C closed at 447.55 trading at $49.90 on 578,900 shares.


What can we concluded from this action, the shorts are getting clobbered today. They were lured into a trap, and the trap sprung shut overnight by the lowering of the discount rate.


Guess we can get the jet now after the money we made this week in the market.