Pre Market Stock Trading 9/19/08 - Short Selling, RTC Plan

Yesterdays explosive rally in the stock market was started by CNBC as they hinted at the possibility that the government was working on an RTC plan.

This morning we have news that short selling will be banned in most financial companies until Oct 2nd.

The SEC, which had convened a late-night commission meeting Thursday to consider several items, said in a statement early Friday morning it is halting short selling on 799 financial stocks. The ban, which is effective immediately, is set to last for 10 days, but could be extended for up to 30 days.

The Dow briefly dipped below 10,500 around 1pm yesterday ( MS stock $12 per share ) and it is set to open at 11,250 ( MS stock set to open a $30 per share )

I have been slacking on my Technical Analysis Stock Charts over the past few weeks because this market is so volatile....I will update them all this weekend!