Yesterday, all of the major stock indexes around the world surged higher after the central banks announced the coordinated intervention for the banks holding European debt. This action by the central banks is a repeat of the action taken back in September 2008. We all know what happened shortly after that intervention in 2008 as the stock markets cratered into March 2009.

Germany is considered the most important country in the European Union. This country now has to decide if it is willing to go all in and allow the European central bank to have complete control over the banking crisis that is taking place. France has already been pleading for the European Central Bank (ECB) to start to print money to bailout the European banks.

Jefferies Group, Inc. (NYSE:JEF) witnessed volume of 15.31 million shares during last trade however it holds an average trading capacity of 6.79 million shares. JEF last trade opened at $11.99 reached intraday low of $11.13 and went -10.13% down to close at $11.18.