CLICK ON ABOVE TO SEE LARGER.Utility avg weak sister, if LOWER rates coming, I find it odd dividend paying utes are lagging badly.
More FED TO RESCUE TALK AND BUSH TO RESCUE TALK is all the market is about, BEN WILL BE THERE <>
Friday, August 31, 2007
BULL JUST GETTING GOING?
CLICK ON ABOVE TO SEE LARGER.Utility avg weak sister, if LOWER rates coming, I find it odd dividend paying utes are lagging badly.
More FED TO RESCUE TALK AND BUSH TO RESCUE TALK is all the market is about, BEN WILL BE THERE <>
Thursday, August 30, 2007
Tuesday, August 28, 2007
HEADLINE HEADACHE
Fed: Response Needed If Conditions Worsen Reuters
Home Prices Post Steepest Drop in 20 Years AP
Consumer Confidence Plunges But Tops Estimates AP
Fed Saw Danger of Credit Crunch AP
WE got sold out, and the future generations that have to PAY for all that was promised and can't be delivered.
Price drop says "3%" well I know people under market price at $310,00 and ONLY offer was $250,000 and this is in area just reported homes on avg increased 2% !!??
THis is all pure BS, consumer confidence is falling for many reasons. DEBT is their lover I dare not speak his name....
IT gets inflated away or it gets defaulted away...oh or paid down...
Key DOw areas I am watching 13,132 and 12,900 area, if broken I think good chance we test reaction lows of few weeks ago. VOLUME TODAY SO FAR IS 90% DOWN!
Duratek
Home Prices Post Steepest Drop in 20 Years AP
Consumer Confidence Plunges But Tops Estimates AP
Fed Saw Danger of Credit Crunch AP
WE got sold out, and the future generations that have to PAY for all that was promised and can't be delivered.
Price drop says "3%" well I know people under market price at $310,00 and ONLY offer was $250,000 and this is in area just reported homes on avg increased 2% !!??
THis is all pure BS, consumer confidence is falling for many reasons. DEBT is their lover I dare not speak his name....
IT gets inflated away or it gets defaulted away...oh or paid down...
Key DOw areas I am watching 13,132 and 12,900 area, if broken I think good chance we test reaction lows of few weeks ago. VOLUME TODAY SO FAR IS 90% DOWN!
Duratek
Wednesday, August 22, 2007
LEND ME A HAND BROTHER
August 22, 2:07 pm ET By Adam Schreck, AP Business Writer
JPMorgan Chase, Bank of America and Wachovia Join Citi in Borrowing $500M Each From Fed
NEW YORK (AP) -- Four major banks said Wednesday they each borrowed $500 million from the Federal Reserve's discount window, lending weight to its efforts to restore liquidity to tight markets.
Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp. and Wachovia Corp. each stressed they themselves have "substantial liquidity" and the ability to borrow money elsewhere.
In a joint statement, the latter three said they decided to borrow directly from the central bank to demonstrate "the potential value of the Fed's primary credit facility" and encourage its use by other banks. It was not clear if other banks had also decided to borrow from the Fed.
On Friday, the Fed took the dramatic step of cutting its discount rate on loans to banks, to 5.75 percent from 6.25 percent, in an attempt to alleviate Wall Street's credit crunch. It also made technical changes to make it easier for banks to get discount loans, including extending the credit period to up to 30 days.
Tapping the discount window had previously been seen as a last resort for banks in trouble, a perception the Fed sought to eliminate.
Citigroup was the first to announce its decision to borrow the money, "on behalf of its clients" at Citibank.
"Citi is pleased to inject liquidity into the financial system during times of market stress and to support creditworthy clients," the company said. "Citibank stands ready to continue to access the discount window as client needs and market conditions warrant."
It was followed minutes later by the three other banks.
"The companies believe it is important at this time to take a leadership role in demonstrating the potential value of the Fed's primary credit facility and to encourage its use by other financial institutions," their statement said. The three added that they hoped their actions would "promote broad acceptance of the use of the facility."
JPMorgan Chase, Bank of America and Wachovia Join Citi in Borrowing $500M Each From Fed
NEW YORK (AP) -- Four major banks said Wednesday they each borrowed $500 million from the Federal Reserve's discount window, lending weight to its efforts to restore liquidity to tight markets.
Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp. and Wachovia Corp. each stressed they themselves have "substantial liquidity" and the ability to borrow money elsewhere.
In a joint statement, the latter three said they decided to borrow directly from the central bank to demonstrate "the potential value of the Fed's primary credit facility" and encourage its use by other banks. It was not clear if other banks had also decided to borrow from the Fed.
On Friday, the Fed took the dramatic step of cutting its discount rate on loans to banks, to 5.75 percent from 6.25 percent, in an attempt to alleviate Wall Street's credit crunch. It also made technical changes to make it easier for banks to get discount loans, including extending the credit period to up to 30 days.
Tapping the discount window had previously been seen as a last resort for banks in trouble, a perception the Fed sought to eliminate.
Citigroup was the first to announce its decision to borrow the money, "on behalf of its clients" at Citibank.
"Citi is pleased to inject liquidity into the financial system during times of market stress and to support creditworthy clients," the company said. "Citibank stands ready to continue to access the discount window as client needs and market conditions warrant."
It was followed minutes later by the three other banks.
"The companies believe it is important at this time to take a leadership role in demonstrating the potential value of the Fed's primary credit facility and to encourage its use by other financial institutions," their statement said. The three added that they hoped their actions would "promote broad acceptance of the use of the facility."
Saturday, August 18, 2007
Saturday, August 04, 2007
CREDIT BUBBLE SPECULATIVE ORGY PIERCED??
http://www.prudentbear.com/articles/show/2081 Doug Noland's Credit Bubble Report
A focal point of my Macro Credit Analysis has for some time been the grave risks posed to markets and economies commanded by the seductive elixir of speculative liquidity. I have compared the current backdrop to that of 1929. For too long our Bubble Economy and Bubble Asset Markets have luxuriated in liquidity created in the process of leveraging speculative securities positions (especially in the Credit market). We are now witnessing how abruptly euphoric boom-time liquidity abundance can transform to a liquidity crisis.
I apologize for appearing overly dramatic. But this evening I have nagging feelings that for me recall the disturbing emotions following the terrible 9/11 tragedy. I know the world has changed and changed for the worse – yet I recognize that I don’t know how and to what extent. I fear for our markets, our economy, our currency and our system. I received an email this week on my Bloomberg that said something to the effect, “You all must be happy in Dallas.” I can tell you we’re instead sickened by what has transpired during the late-stages of this senseless Credit and specualtive orgy. The Great Credit Bubble has been pierced, and there will now be a very, very heavy price to pay. And, as always, I hope I am proved absolutely wrong.
A focal point of my Macro Credit Analysis has for some time been the grave risks posed to markets and economies commanded by the seductive elixir of speculative liquidity. I have compared the current backdrop to that of 1929. For too long our Bubble Economy and Bubble Asset Markets have luxuriated in liquidity created in the process of leveraging speculative securities positions (especially in the Credit market). We are now witnessing how abruptly euphoric boom-time liquidity abundance can transform to a liquidity crisis.
I apologize for appearing overly dramatic. But this evening I have nagging feelings that for me recall the disturbing emotions following the terrible 9/11 tragedy. I know the world has changed and changed for the worse – yet I recognize that I don’t know how and to what extent. I fear for our markets, our economy, our currency and our system. I received an email this week on my Bloomberg that said something to the effect, “You all must be happy in Dallas.” I can tell you we’re instead sickened by what has transpired during the late-stages of this senseless Credit and specualtive orgy. The Great Credit Bubble has been pierced, and there will now be a very, very heavy price to pay. And, as always, I hope I am proved absolutely wrong.
THE LEMMINGS HIT THE FAN
NOTE** VIX did make a higher high FRIDAY
^VIX
25.16
+3.94
+18.57%
WE have situation with MILLIONS of NEW home owners in NEVAUX STYLE LOANS, sub prime, piggyback, and LOW LOW Introductory interest rates that WILL reset with payments skyrocketing. It seems to me we have not felt the worst of it, market is warning.
I have looked at a few weekly charts, NONE are OVERSOLD!!!! ALL have gobs of room for MORE DECLINE!!
Some like SPX cam right down to a rising trendline near 1433. You get END of (and could be very ST moves) moves with MAX volume readings....why always good to sell winners on news as volume comes in and usually you see ST peak price.
DOW P and F shows 13,100 as exceeding previous low O move, says "bearish price obj met" but maybe not with another O in place!
CALL ME F'ING nuts, this mkt has fooled a lot of us, it certainly sems like MONDAY could be a CRASH DAY with NO BUYERS showing up....IS THERE A PPT? a special mkt group? IF so will they come in and buy SPX calls like NO tomorrow? IF not MOnday when?
I thought copper holding up well, maybe so, but P and F IS in Bear mode.
Gold in Bull mode
Silver Bull mode unless $12 broken (P and F)
Bank index in bear mode
BZH P and F price Obj $0
HOV from $74 to $12 !!
Cramer meltdown.
Unwinding of Yen carry trade with FXY break out
Inverted yield curve.
Cat business hurting.
Retail business slowdown.
BSC meltdown.
Now WHAT DON'T WE KNOW ABOUT??????? WHEN DOES MKT DISCOUNT WHAT WE DO KNOW???
Housing has been old news.....just mkt was able to mostly ignore...not so now, bottom dippers got BURNED, LOTS OF BAG HOLDERS IN MKT LOSING BIG MONEY!!! LOSING IT ALL.
Stock prices are in the GDP next reading may surprise on downside.
During all this CHINA mkt new highs??!!!
FTSE chart turns bearish and it SLICES and DICES thru 200 EMA like nothing was there. 6350 may not be surpassed.
NIKK swooning 15,850 P and F target
My MONTHLY TNX shows uptrend in yields still intact...but right at uptrend line....all MA'S I drew rising
Monday has potential to be an ALL OUT PANIC DAY, meaning it has high CRASH potential.
On bright side, my technical work is telling me several things, bull mkt not dead yet, but injured badly. 10% corrections used to be commonplace and normal so 10% off 14K is 12,500-12,600 area, not far from that, could produce a bottom of some kind.
It is also possible the 14K IS THE TOP it is in already, we just counter bounce, when done mkt plunges.
FEAR index rising, it might signal bear mkt s back, is might signal too much fear some kind of bottom is in, hard to tell.
Not good financials leading way down, BIG buys like BSC killed off their highs, JPM etc.
It appears to me, trend has aprubtly changed course, and ONLY HUGE BREADTH TO UPSIDE showing WIDE participation is likely to undo that.
A continuation of selling for much longer could indeed turn the longer term charts into Bear fodder. all IMHO
Duratek
^VIX
25.16
+3.94
+18.57%
WE have situation with MILLIONS of NEW home owners in NEVAUX STYLE LOANS, sub prime, piggyback, and LOW LOW Introductory interest rates that WILL reset with payments skyrocketing. It seems to me we have not felt the worst of it, market is warning.
I have looked at a few weekly charts, NONE are OVERSOLD!!!! ALL have gobs of room for MORE DECLINE!!
Some like SPX cam right down to a rising trendline near 1433. You get END of (and could be very ST moves) moves with MAX volume readings....why always good to sell winners on news as volume comes in and usually you see ST peak price.
DOW P and F shows 13,100 as exceeding previous low O move, says "bearish price obj met" but maybe not with another O in place!
CALL ME F'ING nuts, this mkt has fooled a lot of us, it certainly sems like MONDAY could be a CRASH DAY with NO BUYERS showing up....IS THERE A PPT? a special mkt group? IF so will they come in and buy SPX calls like NO tomorrow? IF not MOnday when?
I thought copper holding up well, maybe so, but P and F IS in Bear mode.
Gold in Bull mode
Silver Bull mode unless $12 broken (P and F)
Bank index in bear mode
BZH P and F price Obj $0
HOV from $74 to $12 !!
Cramer meltdown.
Unwinding of Yen carry trade with FXY break out
Inverted yield curve.
Cat business hurting.
Retail business slowdown.
BSC meltdown.
Now WHAT DON'T WE KNOW ABOUT??????? WHEN DOES MKT DISCOUNT WHAT WE DO KNOW???
Housing has been old news.....just mkt was able to mostly ignore...not so now, bottom dippers got BURNED, LOTS OF BAG HOLDERS IN MKT LOSING BIG MONEY!!! LOSING IT ALL.
Stock prices are in the GDP next reading may surprise on downside.
During all this CHINA mkt new highs??!!!
FTSE chart turns bearish and it SLICES and DICES thru 200 EMA like nothing was there. 6350 may not be surpassed.
NIKK swooning 15,850 P and F target
My MONTHLY TNX shows uptrend in yields still intact...but right at uptrend line....all MA'S I drew rising
Monday has potential to be an ALL OUT PANIC DAY, meaning it has high CRASH potential.
On bright side, my technical work is telling me several things, bull mkt not dead yet, but injured badly. 10% corrections used to be commonplace and normal so 10% off 14K is 12,500-12,600 area, not far from that, could produce a bottom of some kind.
It is also possible the 14K IS THE TOP it is in already, we just counter bounce, when done mkt plunges.
FEAR index rising, it might signal bear mkt s back, is might signal too much fear some kind of bottom is in, hard to tell.
Not good financials leading way down, BIG buys like BSC killed off their highs, JPM etc.
It appears to me, trend has aprubtly changed course, and ONLY HUGE BREADTH TO UPSIDE showing WIDE participation is likely to undo that.
A continuation of selling for much longer could indeed turn the longer term charts into Bear fodder. all IMHO
Duratek
Friday, August 03, 2007
CRAMER GOES MAD
http://www.cnbc.com/id/15840232?video=452808336 you are going to LOVE THIS!
I hope most of my loyal readers are still with me, stay tuned. back on the 15th
D
I hope most of my loyal readers are still with me, stay tuned. back on the 15th
D
PIN DROP OR CRASHING SOUND??
CLICK TO ENLARGE
BROAD NYSE INDEX BULL BEING CHALLENGED ABOVE CHART.
BROAD NYSE INDEX BULL BEING CHALLENGED ABOVE CHART.Distillers (+1.5%) leads the way while Personal Products (+0.8%)and Soft Drinks (+0.5%) round out the top three. yeah, I can understand why BOOZE would do well here...
BSC getting shellacked! BOA analyst ran to his BOX and said selling was overdone, surely worst is over?
Financial stocks are leading the way DOWN? not good.
Why would S&P think of cutting BSC credit rating if the subprime woes were well contained?
BSC HIGH 2007 $171.85 close today $108.79 !!!!!!!!
MKT closes on the lows, selling quickened at close, volume was HUGE on NYSE. over 4 BILLION and we had yet another 90% down day!
Markets inability to rally when this oversold is an ominous signal IMHO. 10 yr Bonds yield now WELL below 2 yr and is screaming Recesion.
American HOme MOrtgage POOF, bankrupt, hedgies dropping like flies, financial sector slaughtered, engine of recent economy Housing clobbered, where is growth going to magically appear from?
Firms rich with CASH? WHY are they BORROWING BILLIONS to buy back OWN STOCK?
Where else you gonna get the straight dope? will be gone until the 15th, be safe, expect MORE volatility BULL lives on a thread....but lives. But I wonder what people will be thinking this weekend and what MONDAY will have in store? BLACK MONDAY?
D
Tuesday, July 31, 2007
MARKET UPDATE "CRISIS AT HAND?"
CLICK CHART TO ENLARGE***I kept this chart simple, my opinion means nothing, the vote of millions of shares do. When the market sniffs out real TROUBLE or GOOD TOMES AHEAD it does so with it’s 20 and 50 week moving averages. The crossover highlighted in circle in 2000 CONFIRMED BEAR MKT in progress. IN 2002 that Blue Circle with upward crossover signalled NEW BULL MKT. That said, you can see weakness but NO crossover yet, if there is one Jo, then Bear is back IMHO> if not all is clear sort of.
Not one single other opinion was needed or necessary, the MA’S speak to me and tell the story and the action afterward proves it.
KEY IMHO is what to do, WHO knew small caps, real estate and gold would do well during 2000-2003 period? Or would lag recently as large caps outperformed.
Maybe one doesn’t run and hide like I did, but it is MOST DIFFICULT to see as it is happening the opportunities of long positions during a bear mkt, some DO and DID work, not the SPX 500, DOW or NAZ….but things did work, it is the quick adjusting of portfolios that makes the difference…..switching to defensive sectors may not help.
D....your bearish leaning, contrarian voice over your shoulder market observor
Wednesday, July 25, 2007
ROLLING HEADS
I cannot think I am alone here in retailville, and if sales DO NOT PICK UP HEADS WILL ROLL>
LOOK for unemployment reports when they rise out of current range it wont stop.
GOOD quality loans even now suspect per Countrywide
Money will be harder to come by (LIQUIDITY)
ONLY ASSET PRICES RISING…..will boost GDP (stock mkt)
Our electric and fuel bills for buildings and trucks have dramatically risen.
I think consumers are up against it here and when heads roll it gets worse.
Now we have HISTORIC DEBT, I am very worried for those on the edge. (lack of historic high in gold says to me they cant or haven’t INFLATED IT AWAY)
The alternative is DEFLATION, with little ammo left.
I think EASY money has been made, choppy times at best ahead.
D
LOOK for unemployment reports when they rise out of current range it wont stop.
GOOD quality loans even now suspect per Countrywide
Money will be harder to come by (LIQUIDITY)
ONLY ASSET PRICES RISING…..will boost GDP (stock mkt)
Our electric and fuel bills for buildings and trucks have dramatically risen.
I think consumers are up against it here and when heads roll it gets worse.
Now we have HISTORIC DEBT, I am very worried for those on the edge. (lack of historic high in gold says to me they cant or haven’t INFLATED IT AWAY)
The alternative is DEFLATION, with little ammo left.
I think EASY money has been made, choppy times at best ahead.
D
Tuesday, July 17, 2007
RECORD PACE TO M & A ACTIVITY
http://www.thomson.com/pdf/financial/league_table/ma/2Q2007/2Q07_MA_Global_Finl_Advisory
1st half of 2007 it reached $2.7 T 62% AHEAD of 2006 !!!!
When M & A peaked in 2000 it warned of THE bubble top, we're building a bigger one now.
D
1st half of 2007 it reached $2.7 T 62% AHEAD of 2006 !!!!
When M & A peaked in 2000 it warned of THE bubble top, we're building a bigger one now.
D
Tuesday, June 26, 2007
PAY ATTENTION
S&P/Case-Shiller Index Says U.S. Home Prices Fell in April for 17th Consecutive Month
NEW YORK (AP) -- U.S. home prices fell for the 17th month in a row with all regions showing the effect of the housing slowdown, according to a housing index released Tuesday by Standard & Poor's.
For April, the S&P/Case-Shiller index that covers 10 U.S. cities fell 2.7 percent from a year ago. It was the steepest decline since 1991.
If you have been reading my blog for some time, you know I WILL be paying attention. Business not DOA, and in future many potential drivers of global economies, but a BEAR MKT could be lurking in the way. LIQUIDITY IS SLOWLY DRYING UP< IMHO
D
NEW YORK (AP) -- U.S. home prices fell for the 17th month in a row with all regions showing the effect of the housing slowdown, according to a housing index released Tuesday by Standard & Poor's.
For April, the S&P/Case-Shiller index that covers 10 U.S. cities fell 2.7 percent from a year ago. It was the steepest decline since 1991.
If you have been reading my blog for some time, you know I WILL be paying attention. Business not DOA, and in future many potential drivers of global economies, but a BEAR MKT could be lurking in the way. LIQUIDITY IS SLOWLY DRYING UP< IMHO
D
Monday, June 25, 2007
SLOWING HOME SALES, RISING INVENTORIES
Home Sales Trend is Worrisome Last Update: 25-Jun-07 10:12 ET
The housing market remains weak. Existing home sales for May were essentially flat at -0.3%. That was in line with expectations, but it still represents a very low level of sales. Sales are 10.3% lower than a year ago and the lowest level in three years. The median price on existing homes sold was down 2.1% from a year ago, continuing the decline of recent months.
The outlook is not good. The inventory of unsold homes rose to a very high 8.9 months supply. Mortgage rates have also risen in recent weeks with the backup in the 10-year note yield. This will hurt demand in the months ahead. A higher level of supply, and lower demand is obviously not good for the housing market. The housing market remains a significant problem for the overall economic outlook.
--Dick Green, Briefing.com
The housing market remains weak. Existing home sales for May were essentially flat at -0.3%. That was in line with expectations, but it still represents a very low level of sales. Sales are 10.3% lower than a year ago and the lowest level in three years. The median price on existing homes sold was down 2.1% from a year ago, continuing the decline of recent months.
The outlook is not good. The inventory of unsold homes rose to a very high 8.9 months supply. Mortgage rates have also risen in recent weeks with the backup in the 10-year note yield. This will hurt demand in the months ahead. A higher level of supply, and lower demand is obviously not good for the housing market. The housing market remains a significant problem for the overall economic outlook.
--Dick Green, Briefing.com
Saturday, June 23, 2007
SING-A-LONG WITH DOW
Going Down by Jeff Beck
album: Best Of Beck (1999), Beckology (1998)
Well I'm going down
Down, down, down, down, down
I'm going down
Down, down, down, down, down
I've got my head out the window
And my big feet on the ground
She's gone
Gone, gone, gone, gone, gone
She's gone
Gone, gone, gone, gone, gone
I've got my head out the window
And my big feet on the ground
So I'm going down
Down, down, down, down
I'm going down, down, down, down, down
Down, down, down, down, yes I am
I've got my head out the window
And my big feet on the
Well I'm goin
Down, down, down, down, down
I'm going down
Down, down, down, down, down
I've got my head out the window
And my big feet on the ground
Gone
Gone, gone, gone, gone, gone
She's gone
Gone, gone, gone, gone, gone
I've got my head out the window
And my big feet on the
Well I'm Down
Down, down, down, down, down
I'm going down
Down, down, down, down, down
I've got my head out the window
And my big feet on the ground, yes I have
Well she walked out the door
And I crawled right out there
album: Best Of Beck (1999), Beckology (1998)
Well I'm going down
Down, down, down, down, down
I'm going down
Down, down, down, down, down
I've got my head out the window
And my big feet on the ground
She's gone
Gone, gone, gone, gone, gone
She's gone
Gone, gone, gone, gone, gone
I've got my head out the window
And my big feet on the ground
So I'm going down
Down, down, down, down
I'm going down, down, down, down, down
Down, down, down, down, yes I am
I've got my head out the window
And my big feet on the
Well I'm goin
Down, down, down, down, down
I'm going down
Down, down, down, down, down
I've got my head out the window
And my big feet on the ground
Gone
Gone, gone, gone, gone, gone
She's gone
Gone, gone, gone, gone, gone
I've got my head out the window
And my big feet on the
Well I'm Down
Down, down, down, down, down
I'm going down
Down, down, down, down, down
I've got my head out the window
And my big feet on the ground, yes I have
Well she walked out the door
And I crawled right out there
Friday, June 22, 2007
NOOSE TIGHTENS?
NEW YORK (AP) -- Bear Stearns Cos. confirmed Friday it will bail out one of its troubled hedge funds with $3.2 billion in secured loans, but the Wall Street firm sought to convince the broader market its troubles are "relatively contained."
Bear said it stepped in to save the Bear Stearns High-Grade Structured Credit Fund because market uncertainty made it "difficult" to unwind the fund's assets -- mostly securities backed by risky mortgage loans.
Blackstone went public today, is this the height of GREED? CEO'S value near $7B ! nice payday, the rich get MUCH RICHER the rest get much more in debt.
This country is bankrupt with NO way to pay off debt nor pay for promissed benefits.
WE are into Chinese for $1.4 Trillion, and that comes with interest!!! They put $3B in Blackstone pre IPO ! Does this event mark watershed?
Most indexes challenging their 50 EMA (moving averages), UTILITY AVG broke down to new low for move. ALL indexes seem to be moving together to the downside.
This decline MAY HAVE TEETH, not saying one last run to new highs not possible.
Interest rates broek a trendline from 1981 !!! many think BOND BULL IS DEAD. How do stocks normally react in a rising interest rate environment?
I am IN CASH awaiting bargains, watching gold for possible breakout.....or breakdown.
Down market closing on lows with BX IPO today, not good IMHO!
D
Bear said it stepped in to save the Bear Stearns High-Grade Structured Credit Fund because market uncertainty made it "difficult" to unwind the fund's assets -- mostly securities backed by risky mortgage loans.
Blackstone went public today, is this the height of GREED? CEO'S value near $7B ! nice payday, the rich get MUCH RICHER the rest get much more in debt.
This country is bankrupt with NO way to pay off debt nor pay for promissed benefits.
WE are into Chinese for $1.4 Trillion, and that comes with interest!!! They put $3B in Blackstone pre IPO ! Does this event mark watershed?
Most indexes challenging their 50 EMA (moving averages), UTILITY AVG broke down to new low for move. ALL indexes seem to be moving together to the downside.
This decline MAY HAVE TEETH, not saying one last run to new highs not possible.
Interest rates broek a trendline from 1981 !!! many think BOND BULL IS DEAD. How do stocks normally react in a rising interest rate environment?
I am IN CASH awaiting bargains, watching gold for possible breakout.....or breakdown.
Down market closing on lows with BX IPO today, not good IMHO!
D
Friday, June 15, 2007
APPEARENCES CAN BE DECIEVING
Castles Made Of Sand Lyrics » Jimi Hendrix
Down the street you can hear her scream "you're a disgrace"As she slams the door in his drunken face,
And now he stands outside and all the neighbours start to gossip and drool.He cries "Oh girl, you must be mad,What happened to the sweet love you and me had?"
Against the door he leans and starts a scene,And his tears fall and burn the garden green.And so castles made of sand, fall in the sea, eventually.
A little Indian brave who before he was ten, played war games inthe woods with his Indian friends, and he built a dream that when hegrew up, he would be a fearless warrior Indian Chief.
Many moons passed and more the dream grew strong, until tomorrow He would sing his first war song,And fight his first battle, but something went wrong,Suprise attack killed him in his sleep that night
And so castles made of sand, melts into the sea eventually.
There was a young girl, whose heart was a frown,Because she was crippled for life, and couldn't speak a sound
And she wished and prayed she would stop living, so she decided to die.
She drew her wheel chair to the edge of the shore, and to her legs she smiled"You won't hurt me no more.
"But then a sight she'd never seen made her JUMP AND SAY"Look, a golden winged ship is passing my way"And it really didn't have to stop...it just kept on going.
And so castles made of sand slips into the sea, Eventually
Down the street you can hear her scream "you're a disgrace"As she slams the door in his drunken face,
And now he stands outside and all the neighbours start to gossip and drool.He cries "Oh girl, you must be mad,What happened to the sweet love you and me had?"
Against the door he leans and starts a scene,And his tears fall and burn the garden green.And so castles made of sand, fall in the sea, eventually.
A little Indian brave who before he was ten, played war games inthe woods with his Indian friends, and he built a dream that when hegrew up, he would be a fearless warrior Indian Chief.
Many moons passed and more the dream grew strong, until tomorrow He would sing his first war song,And fight his first battle, but something went wrong,Suprise attack killed him in his sleep that night
And so castles made of sand, melts into the sea eventually.
There was a young girl, whose heart was a frown,Because she was crippled for life, and couldn't speak a sound
And she wished and prayed she would stop living, so she decided to die.
She drew her wheel chair to the edge of the shore, and to her legs she smiled"You won't hurt me no more.
"But then a sight she'd never seen made her JUMP AND SAY"Look, a golden winged ship is passing my way"And it really didn't have to stop...it just kept on going.
And so castles made of sand slips into the sea, Eventually
Wednesday, June 13, 2007
BDI FLASHING RED
BDI is a helpful tool is guaging what the world economies are up to, there is a good chance it has topped out, flashing another caution flag.
If 10 yr breaks and holds above 5.25%, that would become support for perhaps even higher rates.
D
NOT OUT OF WOODS, MORE PAIN
Foreclosures jump 90% over last year
Figure pushed up by slowing real estate market, subprime meltdown.
June 12 2007: 5:29 PM EDT
NEW YORK (Reuters) -- Home foreclosures in May jumped 90 percent from a year earlier, reflecting a poor spring housing market and foreshadowing even higher levels later in 2007, real estate data firm RealtyTrac said Tuesday.
The May foreclosures - a sum of default notices, auction sale notices and bank repossessions - totaled 176,137, up 19 percent from April, the firm said in its May 2007 U.S. Foreclosure Market Report.
"After a barely perceptible dip in April, foreclosure activity roared back with a vengeance in May," James Saccacio, chief executive officer of RealtyTrac, said in a statement.
"Such strong activity in the midst of the typical spring buying season could foreshadow even higher foreclosure levels later in the year," said Saccacio. "Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas."
RealtyTrac said there was a national foreclosure rate of one foreclosure filing for every 656 U.S. households during May.
The default rates in the subprime segment of the U.S. mortgage market, which caters to borrowers with poor credit histories, have jumped in recent months as the housing industry has slowed and prices have fallen.
More than two dozen lenders in the subprime mortgage sector have collapsed as rising defaults drove them out of business during a downturn in the housing market.
Market observers are keeping a watchful eye on the subprime crisis because it has triggered broader concerns that the fallout may spread to mainstream lenders and damage the economy.
A slowing housing market affects homebuilders, such as Centex (down $1.18 to $44.09, Charts, Fortune 500), Hovnanian Enterprises (down $0.86 to $20.31, Charts, Fortune 500) and Pulte (down $0.74 to $24.65, Charts, Fortune 500), as well as banks that make mortgage loans, such as Bank of America (down $0.39 to $49.66, Charts, Fortune 500) and Wachovia (down $0.65 to $52.95, Charts, Fortune 500).
Home prices: More pain to comeStudy: Rust Belt sees highest foreclosure riskMortgage applications hit by rates
Figure pushed up by slowing real estate market, subprime meltdown.
June 12 2007: 5:29 PM EDT
NEW YORK (Reuters) -- Home foreclosures in May jumped 90 percent from a year earlier, reflecting a poor spring housing market and foreshadowing even higher levels later in 2007, real estate data firm RealtyTrac said Tuesday.
The May foreclosures - a sum of default notices, auction sale notices and bank repossessions - totaled 176,137, up 19 percent from April, the firm said in its May 2007 U.S. Foreclosure Market Report.
"After a barely perceptible dip in April, foreclosure activity roared back with a vengeance in May," James Saccacio, chief executive officer of RealtyTrac, said in a statement.
"Such strong activity in the midst of the typical spring buying season could foreshadow even higher foreclosure levels later in the year," said Saccacio. "Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas."
RealtyTrac said there was a national foreclosure rate of one foreclosure filing for every 656 U.S. households during May.
The default rates in the subprime segment of the U.S. mortgage market, which caters to borrowers with poor credit histories, have jumped in recent months as the housing industry has slowed and prices have fallen.
More than two dozen lenders in the subprime mortgage sector have collapsed as rising defaults drove them out of business during a downturn in the housing market.
Market observers are keeping a watchful eye on the subprime crisis because it has triggered broader concerns that the fallout may spread to mainstream lenders and damage the economy.
A slowing housing market affects homebuilders, such as Centex (down $1.18 to $44.09, Charts, Fortune 500), Hovnanian Enterprises (down $0.86 to $20.31, Charts, Fortune 500) and Pulte (down $0.74 to $24.65, Charts, Fortune 500), as well as banks that make mortgage loans, such as Bank of America (down $0.39 to $49.66, Charts, Fortune 500) and Wachovia (down $0.65 to $52.95, Charts, Fortune 500).
Home prices: More pain to comeStudy: Rust Belt sees highest foreclosure riskMortgage applications hit by rates
Tuesday, June 12, 2007
POTENTIAL TITANIC EVENT
http://www.tradertalk.net/tutorial/titanic.html
10 yr has broken 5.20%
Certain forms of liquidity are drying up.
SPX fighting to hold above 1500.
D
10 yr has broken 5.20%
Certain forms of liquidity are drying up.
SPX fighting to hold above 1500.
D
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