Results 1 to 2 of 2
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
Hybrid View
-
03-23-2011, 09:05 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Egypt Stock Market Opens, Plunges, Triggers Circuit Breakers
Egypt Stock Market Opens, Plunges, Triggers Circuit Breakers, Closes
by Tyler Durden
03/23/2011 07:32 -0400
39 comments
So much for that $25 million EGPT ETF as being a leading indicator. AP dscribes what can only be summarized as the funniest plunge-protection free market reopening in history: "Shares on Egypt’s stock exchange plunged Wednesday as the market reopened after being shut for nearly two months because of the mass protests that toppled former President Hosni Mubarak. Egypt’s finance minister was on hand as men dumped confetti on the trading floor to mark the resumption of trading. But within seconds of the opening, trading was once again halted as an intense sell-off drove shares below pre-set limits put in place to slow any sharp declines. The market reopened half an hour later. The benchmark EGX 30 index was trading down 9 percent at 5,137 points by early afternoon, recovering slightly from a drop of nearly 10 percent earlier. Finance Minister Samir Radwan called on investors not to panic." Of course, where some see panic, others may see responsible selling of liquid assets as the clusterflock of black swans is now flying high in the troposphere and following the Gulfstream.
Some more on this huge market manipulation PR disaster: http://www.washingtonpost.com/business/ ... story.html
“We’re urging people to hold on to their shares and not be hasty. You might regret itâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Bill Melugin-New CBP Data Reveals Over 434,000 Illegals Flown...
05-19-2024, 07:13 AM in illegal immigration News Stories & Reports