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Wall Street close watch

  • #21
  • Jan 10, 2008 9:26am Jan 10, 2008 9:26am
looks like futures opened up fairly weak today, but the market is headed up... if we dont break yesterday's highs that could spell trouble!
Relax and be happy.
  • #22
  • Jan 10, 2008 11:34am Jan 10, 2008 11:34am
Quoting merlin
looks like futures opened up fairly weak today, but the market is headed up... if we dont break yesterday's highs that could spell trouble!
Bernanke's speech is waited now. For clues.

Last time the market was thirsty for some drops of fresh water, he talked about "Global Savings Glut" in Berlin. A selloff followed

This is how I watch his speeches ever since

http://patriotfiles.org/images/BullShitProtector.jpg
  • #23
  • Jan 10, 2008 1:11pm Jan 10, 2008 1:11pm
What did he say? What did he say?????

No words went through the protector!!!
  • #24
  • Jan 10, 2008 2:21pm Jan 10, 2008 2:21pm
BofA x Countrywide deal fired a rocket in the stock market...

This kind of stuff is usually beneficial to the investor's mood, I imagine. Dow may have put a double bottom in the 12.5K area.

On my side I'll wait for UJ to sit on its own rocket before doing anything with the carries.
  • #25
  • Jan 11, 2008 3:34am Jan 11, 2008 3:34am
Friday's round of betting:

Good news 1 x 2 Bad news.

Good:
BofA / Countrywide

Bad:
AMEX
Merril

Neutral:
Bernanke's speech - ignored worldwide

Dow Futures last -86
Place your chips
  • #26
  • Jan 11, 2008 8:33am Jan 11, 2008 8:33am
[US] equity futs point to renewed selling amid more signs of broadening...

[US] equity futs point to renewed selling amid more signs of broadening economic slowdown and financials dealing with major debt/credit woes. On the latter, BoA confirms deal to buy distressed mortgage lender Countrywide for about $4 bln. The latter was a subject of increased talk of going bankrupt and the firm has major FDIC-backed deposits. Meanwhile, more press reports of bigger subprime/debt writedowns when Q4 results announced. A number of major Wall St. firms report next week. Credit card Amex also warns of bigger loan losses while luxury retailer Tiffany said Dec sales were well below plan. Market internals remain weak while economic concerns on growth and profits to dog investor confidence. More Fedspeak today from Gov Mishkin & Boston's Rosengren. While liquidity signs have improved, talk of recession is raising, with fed still seen behind the curve on pace of easing.
Check Mate GAME OVER
  • #27
  • Jan 11, 2008 9:09am Jan 11, 2008 9:09am
Bulls are running for cover this am. 40 min session, -170 dow.

Even the BofA/Countrywide deal turned out to be bearish, as BofA seen buying a junk company...
  • #28
  • Jan 11, 2008 9:13am Jan 11, 2008 9:13am
Quoting cesarnc
Bulls are running for cover this am. 40 min session, -170 dow.

Even the BofA/Countrywide deal turned out to be bearish, as BofA seen buying a junk company...
Carries not reacting though. UJ trading Yoga style for the entire month already.

Can drive a man crazy pretty easily.
  • #29
  • Jan 11, 2008 9:26am Jan 11, 2008 9:26am
-170 on the Dow now
Patience + Humility + Study = Success
  • #30
  • Jan 11, 2008 9:30am Jan 11, 2008 9:30am
Hasn't taken out yesterday's low...yet! So no big deal so far.
  • #31
  • Jan 11, 2008 11:13am Jan 11, 2008 11:13am
Quoting SunTrader
Hasn't taken out yesterday's low...yet! So no big deal so far.
It's hovering around - guess who? - 12.7K

Carry trades are dead. Dead, dead, dead.

Not even a -170 Dow defibrilator could do the job.
  • #32
  • Jan 11, 2008 12:10pm Jan 11, 2008 12:10pm
Big drag today on the Dow

AXP -5.20 -10.6%

MCD -4.22 -7.22%
  • #33
  • Jan 12, 2008 4:44am Jan 12, 2008 4:44am
Quoting SunTrader
Big drag today on the Dow

AXP -5.20 -10.6%

MCD -4.22 -7.22%
Yup, this Friday was interesting because Thu's rally on the BofA / Countrywide deal was reassessed.

Thu: "Countrywide was saved by BofA, it will be good for it! Buy Buy Buy!!!"
Fri: "Wait a minute.. Will it be good to BofA? SELL SELL SELL!!!!!!!!!"
  • #34
  • Jan 12, 2008 6:16pm Jan 12, 2008 6:16pm
Quoting cesarnc

http://patriotfiles.org/images/BullShitProtector.jpg


wasnt pretty on friday. there is still hope for a bounce, but man, there sure is potential for a panic snowball. think about it like this... most everyone who bought stocks in 2007 is sitting on a loss. thats a lot of hedgefunds! and widespread pain can get ugly! have you seen the volume to the downside? can bernanke save the day perhaps?

oh btw, now that i read greeny's book, i know for sure bernanke has his eye on stocks. he is probably drooling over this night and day!
Relax and be happy.
  • #35
  • Jan 14, 2008 9:52am Jan 14, 2008 9:52am
IBM kicking butt today, people waiting to see if suit&ties go in Fed's building, maybe for a coffee? Chit chat? A surprise rate cut? LOL... you never know..

12.7 not going down, though.
  • #36
  • Jan 14, 2008 9:56am Jan 14, 2008 9:56am
Quoting merlin


wasnt pretty on friday. there is still hope for a bounce, but man, there sure is potential for a panic snowball. think about it like this... most everyone who bought stocks in 2007 is sitting on a loss. thats a lot of hedgefunds! and widespread pain can get ugly! have you seen the volume to the downside? can bernanke save the day perhaps?

oh btw, now that i read greeny's book, i know for sure bernanke has his eye on stocks. he is probably drooling over this night and day!
Gotta tellya,

First 100 pages of Greenspan's book and I have to admit. There is no way to run that fatass economy if you're not good. Excellent. I'll drop my criticism on him for a while, coz, man, he's likely in a huge pressure now with that stagflation looming.

Which means, one bullet too much and he overkills. One bullet too little and he kills nothing.
  • #37
  • Jan 17, 2008 12:56pm Jan 17, 2008 12:56pm
Market giving a "thanks for nothing, Bernanke" today.

Dow 12.5K gone

12.4K gone

12.3K going
  • #38
  • Jan 17, 2008 1:16pm Jan 17, 2008 1:16pm
Package, cut seen "too little, too late"

Stocks tumbled after economic data showed weak factory activity and Merrill Lynch reported the biggest loss in company history.Federal Reserve Chairman Ben Bernanke spoke to Congress about his views on the state of the economy, but investors took no comfort from his remarks, which were widely interpreted as being friendly to an aggressive interest rate cut.

As Bernanke continued to speak the major indexes continued to fall, triggering sentiment that it may be too late for the Fed to help a recession-bound economy, despite indications that Congress could pass an economic stimulus package within a month.

"He really didn't say all that much but that he wanted Congress to act sooner rather than later," said Chris Mayer, managing editor at Capital & Crisis. "It smacks to me that they're looking to save the financial institutions. They talk a lot about the consumer, but if the banks weren't losing billions and billions of dollars I wonder if they'd be so eager to put this stimulus package through."
  • #39
  • Jan 17, 2008 2:26pm Jan 17, 2008 2:26pm
Quoting cesarnc
Market giving a "thanks for nothing, Bernanke" today.

Dow 12.5K gone

12.4K gone

12.3K going
Update: 1 1/2 hour later

12.3K gone
12.2 going
  • #40
  • Jan 18, 2008 3:01am Jan 18, 2008 3:01am
Dunno seemed to best fit into here so I thought it worthy a quote...but would also go really well into the bullshit thread of BWR..

Quoting Dumbberg
Japan's Nikkei 225 Stock Average climbed 0.6 percent, reversing an earlier 3 percent loss, while the MSCI Asia-Pacific Index of regional shares erased a 2.6 percent drop to trade 0.2 higher
From here.

...


Did they fail grade school or something? Or for how stupid do they take their average reader? I sincerely feel insulted reading these things..

Oddly enough, and just to be sure, I used a calculator and checked:

+0.6% - 3% = -2.4%

+0.2% - 2.6% = -2.4%



WHAT A MAD REVERSAL!

Got to love unbiased reporting and factual(!), neutral, objective language use..
Trust price. Know yourself.
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