Repros Therapeutics Inc (RPRX)

[spartex]

Fed Cuts Discount Rate by 1/2 Point
Friday August 17, 8:21 am ET
Federal Reserve Cuts Discount Rate by 1/2-Percentage Point


WASHINGTON (AP) -- The Federal Reserve, declaring that increased economic uncertainty poses risks for U.S. business growth, announced Friday that it has approved a half-percentage point cut in its discount rate on loans to banks.
The action was the most dramatic effort yet by the central bank to restore calm to global financial markets which have been roiled in the past week by a widening credit crisis.

http://biz.yahoo.com/ap/070817/fed_interest_rates.html?.v=8

I knew as soon as I saw the SPY pre-market go from down
-1.5 to + 2 that the Fed had come in with an emergency cut. Let's see if this soothes the nerves or not. Countrywide which was bidding up around 20, is now at 22 pre-market. Getting some help from Uncle Benanke. The stock was as low as the $15's yesterday during the market swoon. Imagine if you were brilliant enought to have bought Aug $15 calls for $2 bucks (will trade near $7 at open). http://finance.yahoo.com/q?s=CFCHC.X Nice move if you did. ;)

Will be interesting to see if RPRX holds $12.5 into expiration today or not.