StockTwits reaction to Timmy G’s plan

• StockTwits
• March 23rd, 2009

Cognitive dissonance at its finest?

The market reacted quite favorably to the U.S. Treasury’s so called ‘Toxic Asset Plan’ while many, including a large portion of the StockTwits community, think it will be the latest huge embarassing failure via Washington.  Consensus on the StockTwits feed seems to indicate they’ll take the bounce for what it’s worth.

We were first alerted to Timmy’s plan from one of our many StockTwits insomniacs:

aiki14 Mar. 23 at 1:32 AM

WSJ article on/interview with Geithner re: plan, just out http://bit.ly/10IRQe $$

And the reactions:

@Nostreetrader Mar. 23 at 8:20 AM

Cant say I remember Geithner ever moving the market in THIS direction at such a firing rate! $$

@milktrader Mar. 23 at 8:22 AM

I get real nervous about long action when the government is the catalyst. Call me skeptical $$

@Dasan Mar. 23 at 8:50 AM

Someone smart please explain to me how the same old “buy assets from dead banks” plan that the market hated under Paulson is now great? $$

@ex_wirehouse Mar. 23 at 9:13 AM

@agwarner thinking this is a thinly veiled way of cramming losses down taxpayers throats, success dubious $$

@MrUnexpectedly Mar. 23 at 9:19 AM

So investors are going to end the slump by buying the assets they ran from to create the slump? OH YEAH RALLY THAT!!! $$

@howardlindzon Mar. 23 at 9:26 AM

once again the world was healed on a sunday night by our govenment and the futures are up. colore me skeptical, but long. $$

@bluewaterpro Mar. 23 at 10:02 AM

Fighting the fed is a stilly strategy $FAS

@emini_trader Mar. 23 at 12:17 PM

excellent synopsis of Geithner’s plan: http://tinyurl.com/cuflf9 $$

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