EWZuber
1,373 posts
msg #60728
- Ignore EWZuber |
3/24/2008 12:11:56 PM
COMP forming a Hammer candlestick for the month of March confirming the 50 MO.MA as support.
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nikoschopen
2,824 posts
msg #60742
- Ignore nikoschopen |
3/24/2008 2:49:42 PM
Jim Cramer, the idiot we all love to hate, declares the bear market is effectively over as of today.
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nikoschopen
2,824 posts
msg #60752
- Ignore nikoschopen |
3/25/2008 3:44:17 AM
Can you believe it? Hong Kong's Hang Seng index shot up 1,125.68 (5.33%) and the India's Bombay index soared 778.60 (5.09%)! There's way too much froth around the world to even think that we've cleared the bottom. Also, considering that the subprime and the credit mess is a global problem, I bet there are many banks in Hong Kong and India in particular that have yet to come clean about their ties to the whole fiasco. Now how do I short these MOFO markets? In 18 months, they should be worth only half the price.
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maxreturn
745 posts
msg #60753
- Ignore maxreturn |
3/25/2008 8:14:54 AM
Niko...I hear ya. You already know this but just go with the with the flow for now but be prepared at resistance.
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rtucker
318 posts
msg #60768
- Ignore rtucker |
3/25/2008 7:03:31 PM
Look at this from a blogger. Indeed how can you short this party.
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Wells Fargo (WFC) Indicates it Would Love to be Forced into a Fed Shotgun Marriage
More of the many unintended consequences of government meddling....
....so lookee here, if you buy this troubled bank we'll cover 98% of the potential losses, and give you a 10 year loan at the discount rate to cover your losses? It's basically risk free! Plus we'll throw in a building in NYC for free, and oh yeh - 14K employees. Interested? It'll cost you $300M... wait, maybe $1B after the shareholders whimper.
Of course any viable bank that did not run its business in the ground would jump at that offer - so much so that they are even offering publicly to "help". :) Again, of the major banks Wells Fargo (WFC) is one that has done a very good job of navigating this mess... and looks like the perfect suitor to pick up a tax payer sponsored bailout of say Washington Mutual (WM). I mean risk free transactions are very capitalistic - creative destruction and all. Wells Fargo has its hand out - when the next disaster strikes, I'm sure the booty will be delivered by the Fed. Once you set that precedent....
The chief executive of Wells Fargo & Co. said Tuesday that the current environment presents opportunities and that the venerable San Francisco bank would consider doing a deal in conjunction with the Federal Reserve. "I would not be averse to a Fed-assisted transaction," Chief Executive John Stumpf said in an interview with the San Francisco Business Times newspaper
The bailout of crumbling investment bank Bear Stearns by the Federal Reserve and the Treasury Department 11 days ago has investors wondering how far the government will go in playing matchmaker to stabilize the troubled markets.
Wells Fargo, with its good standing after a year of widespread write-downs and a rapidly slowing economy, would likely be at the top of the list as a suitor for many banks. It's the only one of the nation's five largest banks to have maintained a AAA credit rating from Moody's Investors Service and Standard & Poor's. (should we be happy for Wells Fargo or what does this say about the other 4 top "financial institutions" in America? That light regulation thing really worked out great...)
Still, the San Francisco newspaper reported Stumpf said he would be willing to risk that rare designation in exchange for the chance to snap up a target at a bargain price.
Such a kind offer. Too bad the other banks are in such shoddy stage or else we'd have a bunch of banks lining up to be on the Federal Reserve Christmas gift list. Quite a sad state of affairs so few are in position to take advantage of this offer due to their own troubles...
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rtucker
318 posts
msg #60801
- Ignore rtucker |
3/26/2008 7:59:40 PM
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=msummary&cmd=show,iday[Y]&disp=SXA
This is a nice page for market summary.
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nikoschopen
2,824 posts
msg #60805
- Ignore nikoschopen |
3/26/2008 9:26:55 PM
They will likely cook up the numbers for personal income and the inflation, but I think we'll prolly witness another bottomless pit. starting tomorrow. Consider it as a courtesy wakeup call (**wink**).
As for Bernanke redux, let's save it until the "R" word becomes a past tense.
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marine2
963 posts
msg #60809
- Ignore marine2 |
3/26/2008 11:24:02 PM
For now, just buy on the S&P 500 dips and sell on the run-ups. Use DIA and QQQQ. Use the KISS method for now. Play the roller coaster ride we are now seeing the intelligent way.
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nikoschopen
2,824 posts
msg #60844
- Ignore nikoschopen |
3/28/2008 2:13:06 AM
Aint it funny? The market gets slammed into the close like one sad puppy licking its wound but the collective morons in all their infinite wisdom push it right back up in the afterhours on thin volume. We might again see a gapper tomorrow.
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rtucker
318 posts
msg #60863
- Ignore rtucker |
3/28/2008 9:24:49 PM
http://seekingalpha.com/article/69979-the-fed-is-deflating-10-reasons-why
This guy is popular on this site as the 38 comments on this article indicate. I wonder if he can buy/sell a stock for a profit. I wonder if
understanding this stuff can help us to do so.
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