Cesarnc's market talk, gossips, rumours & fun

Is that a pinbar on the UJ 4hr chart?

Not a classic one, imo. Big nose was due to the spike on the news, like on euro.

UJ 4h is much more a bullish flag than a reversal setup.

I didn't think so I'm bullish biased on this.

Yahoo's shares tumbled after Microsoft withdrew its $47.5 billion takeover offer, wiping out about $7.6 billion in market value and piling pressure on its leadership, especially CEO Jerry Wang.

http://media.cnbc.com/j/CNBC/Section...l_featured.jpg

Yo Jerry! What the HELL do you know that I don't?

Wang's e-mail server cracked, his e-mail to Gates on Sunday:

TO: Bill Gates ([email protected])
FROM: Wang ([email protected])
SUBJECT: YOU DON'T...

>>
I own Yahoo-ooo
You doooo-oon't

I own Yahoo-ooo
You doooo-oon't

http://i2.photobucket.com/albums/y28.../beardance.gif

END OF MESSAGE

The more they shake it, the more it stinks

"Activist investors have been considering whether to mount a proxy fight to oust the Yahoo board because of frustration over the collapsed Microsoft deal, say people familair with the situation"
- CNBC

" May 5 (Bloomberg) -- Yahoo! Inc. Chief Executive Officer Jerry Yang may end the day as much as $308.4 million poorer after Microsoft Corp. withdrew its $47.5 billion takeover offer."

He was declining Microsoft and long Yahoo! at the same time

Yo, new emotions

Hey new smilies. I like.

Bernanke Urges Action to Avert Further Foreclosures (Update1)

By Scott Lanman and Alison Vekshin

May 5 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, seeking to end the worst housing slump in 25 years, urged the government and mortgage lenders to intensify their efforts to avoid home foreclosures.
Bernanke, in a speech in New York today, also reiterated his call for lenders to forgive portions of mortgages for some struggling homeowners. He said proposals should be ``tightly targeted'' at borrowers at greatest risk of losing their properties, and avoid providing an incentive for defaults.
The Fed chief also backed the idea of having the Federal Housing Administration refinance troubled mortgages, a concept included in Democratic legislation in Congress, without explicitly endorsing the bill. His remarks indicate a gap with the Bush administration, which has preferred to rely on industry- led efforts.
``Realistic public- and private-sector policies must take into account the fact that traditional foreclosure-avoidance strategies may not always work well in the current environment,'' Bernanke said in remarks to a Columbia Business School dinner.
Bernanke also reiterated his call for a stronger role for Fannie Mae and Freddie Mac, the government-chartered companies that are the biggest sources of money for U.S. mortgages, to ease the crisis.
He didn't comment on the outlook for interest rates in his speech, his first since the Federal Open Market Committee met last week. The panel on April 30 cut the benchmark interest rate by a quarter point to 2 percent, and signaled it may take a breather after seven reductions.
Threat to Economy
Bernanke did note that accelerating foreclosures may push home prices down further, hurting the broader economy and threatening the financial system. He anticipated the foreclosure rate will increase this year after such proceedings began on 1.5 million properties last year.
A quarterly Fed survey today showed the share of banks making it tougher for companies and consumers to borrow approached a record last month in the aftermath of the subprime mortgage collapse. The Senior Loan Officers' Survey found a net 70 percent of banks increased their loan rates over their cost of funds.
In the past, typical approaches to helping homeowners included temporary repayment plans or folding missed payments into the principal balance, Bernanke noted today. That may not work in the current crisis, he said.
``In some cases, when the source of the problem is a decline of the value of the home well below the mortgage's principal balance, the best solution may be a writedown of principal or other permanent modification of the loan,'' Bernanke said.
FHA Proposal
One option would be for the FHA to refinance a loan after the lender or investor forgives part of the mortgage, he said. That idea is incorporated in legislation sponsored by House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat.
Frank's bill would have the FHA insure as much as $300 billion in mortgages after loan-holders agree to reduce principal. The proposal may come up for deliberation in the House in two days. Frank's committee approved it last week.
Bernanke's comments seem to ``fit hand-in-glove with the legislation that Congress is going to bring out later this week,'' said Christopher Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, in an interview with Bloomberg Television. ``He's very concerned about housing, the subprime crisis spreading to the rest of the country.''
`Tightly Targeted'
Bernanke warned that ``to be effective, such programs must be tightly targeted to borrowers at the highest risk of foreclosure.'' Qualification guidelines could be set, such as identifying an amount of debt compared with income, or the extent to which the home value is below the mortgage amount, he indicated.
``Finding the right balance -- particularly the need to avoid programs that give borrowers who can make their payments an incentive to default -- is difficult,'' the Fed chairman said.
As the housing recession deepened, officials in Washington have offered a number of different proposals. Foreclosure filings rose 57 percent in March from a year earlier, according to Irvine, California-based RealtyTrac Inc.
``Conditions in mortgage markets remain quite difficult, and mortgage delinquencies have climbed steeply,'' Bernanke said.
FDIC Proposal
Last week, Federal Deposit Insurance Corp. Chairman Sheila Bair proposed that Congress authorize the Treasury Department to make loans to homeowners to help pay down as much as 20 percent of their mortgage principal.
Treasury Secretary Henry Paulson met with some of the largest mortgage servicers, including JPMorgan Chase & Co. and Citigroup Inc., on April 23 to consider ways to expand the scope of the Hope Now Alliance, a voluntary industry-led initiative he helped set up to reach more struggling borrowers and help modify their mortgages.
Representatives of Hope Now will gather with officials tomorrow at the Treasury to discuss ways of stepping up the effort to stem foreclosures, two people familiar with the meeting said on condition of anonymity. Working groups will brainstorm on possible further actions, one of the people said.
Bernanke said today that it's an ``especially appropriate time'' for Fannie Mae and Freddie Mac to ``move quickly to raise significant new capital'' to aid the housing market.
Tougher Oversight
The Fed chief reiterated the central bank's position that Congress should pass legislation that would increase oversight of the two government-chartered companies. He also repeated his endorsement of a separate measure to expand the role of the FHA to ``increase its scale and improve its management of risks'' so it can better aid borrowers. He made similar points in a March 4 speech.
The Fed, under pressure from Congress, is developing new rules to strengthen consumer protections in mortgage lending. Officials in December released draft rules for high-cost loans that would require income verification, hold lenders accountable for a pattern of writing unaffordable loans and provide borrowers with loan information early in the application process.

Morning all...

Not much to talk on the markets huh? Still waiting for my entries to kick in

the markes are on holiday with the japanese

I'M SHONG!

Gotta go. Boring meetings....

Who cut the cheese?



Crap markets

Man, our postings are starting to be hours apart......

The market needs to get back to action so we can party...

Luv these new emotions......


HOLLA

Dollar will fart a tomahawk tomorrow, or I'll dance naked hanging a cartoon on Mohammed in downtown Bagdah

http://www.biblehelp.org/images/miss...uncher%201.jpg

Man,YOU always make my day !!! Now i just need to work what this means?

Take care

baz

Looks like the US traded their weak dollar status to the Yen.

I won't take full credit for this.

The technical term "fart a tomahawk" was first used by the fellow trader Traex (long time no see - K.I.A? ) here: http://www.forexfactory.com/showpost...postcount=6667

"Fart a tomahawk" means that a given currency (the farter) will have its value appreciated fast (like a tomahawk) in a short period of time.

For creations like this, it's why (among other things) Forex Factory is also culture

I'm telling'ya. Euro has put a monster bigass c*#$@#$@sucker pin-bar in the 4H. Entry is 1.55ish.

http://i2.photobucket.com/albums/y28...miley_rock.gif

P.S. I'm running on caipirinha by now, so sorry my French :blushing:

Brother, check the daily pb on UJ.