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Wall Street close watch

  • #321
  • Mar 17, 2008 3:10am Mar 17, 2008 3:10am
Quoting fierceman
Remember this?
Yepp.

Also over in that http://forexfactory.com/showpost.php...88&postcount=4

"Could fall back inside, even through it, to retest the big red descending TL it broke out of before, this time lower, at around 191." (September 7th)

We got to 192.50 tonight already - 830 pips down from open
Looking at it now, I guess 192.5 was the more "logical" area - 250 pip increments seem to be more popular than odd numbers

The DAX has already broken down, however the US Futures are STILL holding. Unbe-frickin-lievable.

Crazy stuff going down... Literally!
Trust price. Know yourself.
  • #322
  • Mar 17, 2008 3:22am Mar 17, 2008 3:22am
Just some words here...

from http://www.cnbc.com/id/23664032

Quote
Interest rate futures prices shifted to fully price in an expected 1 percentage point cut, with some chance of an even bigger move -- reductions that would be unprecedented in the central bank's modern history.

[..]

The central bank said the new lending facility for the primary dealers -- big Wall Street firms that deal directly with the Fed in financial markets -- would be open for business on Monday and would be kept in place for at least six months.

The Fed, which normally lends through its discount window only to banks that take deposits, can lend to nondepository institutions under special circumstances. It last did so in the 1930s
Ahem. Oh my. I don't think anyone can hide the dimensions of all this anymore now, eh?

USA - home of the new ZIRP?
Trust price. Know yourself.
  • #323
  • Mar 17, 2008 3:48am Mar 17, 2008 3:48am
Bear Stearns, will be renamed to Brithney Spears ....just wait...
its just money
  • #324
  • Mar 17, 2008 5:33am Mar 17, 2008 5:33am
Quoting de123
Bear Stearns, will be renamed to Brithney Spears ....just wait...
Screwed up, lost value, became a laughingstock

Yeah, makes sense to me
  • #325
  • Edited 7:58am Mar 17, 2008 6:09am | Edited 7:58am
Quoting cesarnc
Screwed up, lost value, became a laughingstock

Yeah, makes sense to me
Don't forget lost custody - yet another parallel

Also - too fat, loves to lie(We're financial virgins, we swear! No taint in our books!), media manipulator, fanbase of delusional followers who used to believe.. etc
Trust price. Know yourself.
  • #326
  • Mar 17, 2008 7:36am Mar 17, 2008 7:36am
Quoting SeekingLight
Don't forget lost custodity - yet another parallel

Also - too fat, loves to lie(We're financial virgins, we swear! No taint in our books!), media manipulator, fanbase of delusional followers who used to believe.. etc
Art mimics life or vice versa
  • #327
  • Mar 17, 2008 8:47am Mar 17, 2008 8:47am
DJI is still holding above Jan. 22/23 lows... but S&P has already broken below.
  • #328
  • Mar 17, 2008 9:12am Mar 17, 2008 9:12am
Quoting fierceman
DJI is still holding above Jan. 22/23 lows... but S&P has already broken below.
Amazing, isn't it?

I also wouldn't be surprised at a mini-rally for a random reason, either.
Trust price. Know yourself.
  • #329
  • Mar 17, 2008 9:51am Mar 17, 2008 9:51am
This is a fellow trader's technical analysis about the situation in the financial markets.

This is the most serious and reliable study I've seen since the start of the financial crisis... Please, consider it in your trading from now on.

http://www.imagefreehost.com/files/1...1243704418.gif


  • #330
  • Mar 17, 2008 9:56am Mar 17, 2008 9:56am
Quoting SeekingLight
Amazing, isn't it?

I also wouldn't be surprised at a mini-rally for a random reason, either.
The S&P break was only by a few pts, so not a real break yet I guess...

I can see a small technical rally off that "double bottom", plus the fact that Wall St. can now punch its chest knowing "my boy Benny got my back" (like that was ever in doubt).

Until something else breaks, or until the masses realize they are buying into a bear market .
  • #331
  • Mar 17, 2008 11:42am Mar 17, 2008 11:42am
Quoting cesarnc
This is a fellow trader's technical analysis about the situation in the financial markets.

This is the most serious and reliable study I've seen since the start of the financial crisis... Please, consider it in your trading from now on.




that is hilarious!

Thanks!
  • #332
  • Mar 17, 2008 12:59pm Mar 17, 2008 12:59pm
I didn't want to hotlink it, so here's the place via which it's seen.

http://bigpicture.typepad.com/commen...tive-expo.html

This is a must click. Talk about overleveraging
Trust price. Know yourself.
  • #333
  • Mar 17, 2008 1:28pm Mar 17, 2008 1:28pm
Quoting SeekingLight
I didn't want to hotlink it, so here's the place via which it's seen.

http://bigpicture.typepad.com/commen...tive-expo.html

This is a must click. Talk about overleveraging
"In a further step, the Fed will provide up to $30 billion to JPMorgan Chase & Co. to help it finance the purchase of Bear Stearns Cos. after a run on Wall Street's fifth-largest securities firm." (from Bloomberg)

What fun - we get to pay for JP's margin call! It's like diet trading... all the risk with none of the reward!
  • #334
  • Mar 17, 2008 2:35pm Mar 17, 2008 2:35pm
wow this situation with bear stearns is unbelievalbe. and sad too

i have always looked up to bear and loved the way they conducted their business. you have to understand what stuffy jerks these wallstreet firms can be to understand why bear was so different.

anyway...so what is this the 4th or 5th time JP Morgan has saved the american banking system?
Relax and be happy.
  • #335
  • Mar 17, 2008 2:39pm Mar 17, 2008 2:39pm
Quoting merlin
wow this situation with bear stearns is unbelievalbe. and sad too

i have always looked up to bear and loved the way they conducted their business. you have to understand what stuffy jerks these wallstreet firms can be to understand why bear was so different.

anyway...so what is this the 4th or 5th time JP Morgan has saved the american banking system?
Well I suppose that it was either JP or Bankruptcy, but 245 mill is not even close to the break up value of 7.7 billion. I would not call this any kind of bail out, I feel sorry for the employees. they owned 30% of the co.
  • #336
  • Mar 17, 2008 2:45pm Mar 17, 2008 2:45pm
Quoting merlin
wow this situation with bear stearns is unbelievalbe. and sad too

i have always looked up to bear and loved the way they conducted their business. you have to understand what stuffy jerks these wallstreet firms can be to understand why bear was so different.

anyway...so what is this the 4th or 5th time JP Morgan has saved the american banking system?
And the mess is endless. Bear is -84% today, last $4.84. JP Morgan doubled up already... :

Can you imagine the great Bear Stearns' shares at $4.84?
  • #337
  • Mar 17, 2008 9:09pm Mar 17, 2008 9:09pm
Won't be the last time he gets it wrong.
http://www.redlasso.com/ClipPlayer.a...d-aadc68176f67

I feel sorry for the poor chap...
Check Mate GAME OVER
  • #338
  • Mar 17, 2008 9:21pm Mar 17, 2008 9:21pm
Must be to many trying to watch it and the server is getting crashed..
Check Mate GAME OVER
  • #339
  • Mar 17, 2008 9:32pm Mar 17, 2008 9:32pm
Quoting cesarnc
And the mess is endless. Bear is -84% today, last $4.84. JP Morgan doubled up already... :

Can you imagine the great Bear Stearns' shares at $4.84?
Can you imagine i was gonna work for them?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #340
  • Mar 17, 2008 9:33pm Mar 17, 2008 9:33pm
Quoting Plutonite
Can you imagine i was gonna work for them?
The man gets my vote... Crammer for President..lol
Check Mate GAME OVER
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