No Wonder The Markets Look Like They Are On VIAGRA!
NO WONDER THE MARKETS LOOK LIKE THEY ARE ON VIAGRA!
Traders are probably afraid to get caught in short positions.
Asian Market Update: Asian stocks rally as U.S. government steps in; SEC expected to go after short sellers
- Paulson and Bernanke met with the Congressional leadership to discuss solutions to the credit crisis: According to reports, a new entity will be formed to take bad assets off the balance sheets of financial companies. Paulson said he hoped to have a solution "aimed right at the heart of this problem." The Wall Street Journal reported that the eventual plan will not exactly mimic the Resolution Trust Corp, and that the new entity could function as an auction facility. A Treasury aide said that Bernanke and Paulson will work over the weekend on the bank plan, with CNBC reporting that the plan will cost half a trillion dollars. Another plan being discussed is the creation of federal insurance for investors in money- market mutual funds, similar to the mechanism that currently protects bank deposits. Japan's former currency chief Sakakibara said that investors shouldn't have too much faith in officials, adding that he expects the crisis to continue for the next two years.
- Several reports suggest that the Securities and Exchange Commission is set to propose a temporary ban on short-selling of some, or all, stocks. At this stage it's not clear how broadly the ban might extend, but it is expected to apply to financial stocks. Details of the plan were still being worked out Thursday night, and could be delivered to Congress in "hours," said Senate Majority Leader Harry Reid. The SEC's Cox declined to comment on press reports, but he did say an announcement will be made ahead of the open on Friday. Other reports suggested that the SEC is coordinating with the U.K.'s FSA to crack down on "abusive short selling".
- Moody's placed the ratings of bond insurers Ambac and MBIA on review for possible downgrade: Today's rating action follows Moody's announcement of an upward revision to cumulative loss projections for subprime RMBS exposures. Moody's added that it may downgrade MBIA and Ambac by more than 1 notch.
- Pension funds continue to go after shorts: The NYC Pensions said it has suspended lending 19 stocks on the SEC "naked" short selling list. Calpers also halted lending 4 investment banking stocks, including Goldman Sachs and Morgan Stanley, adding that it will lift this restriction once market volatility abates.
- Money markets under credit review: Fitch placed on watch negative Putnam Prime Money Market Fund. The rating actions follow the decision of the Board of Trustees of Putnam Funds to close Putnam Prime Money Market Fund (Institutional) and formulate a plan for liquidation of all assets of the fund for distribution to investors. In related news, Moody's downgraded Putnam Prime Money Market fund to B. Today's downgrade action follows Putnam's decision last night to book redemptions in the Fund but not pay out proceeds to satisfy redemption requests.
- The latest on WaMu: The FT reported that five banks are doing due diligence on WaMu, including Citi, JPMorgan, Wells Fargo, HSBC and Santander. The Wall Street Journal reported that Citigroup is considering a bid for WaMu.
- The latest on Morgan Stanley: According to reports, HSBC is not interested in buying Morgan Stanley.
- Forex: The USD was bought as risk appetite improved. Between 17:00 EDT and 23:42 EDT: EUR/USD -1.02%, GBP/USD -0.73%, USD/CHF +1.16%, USD/CAD +0.29%, USD/JPY +1.46%, AUD/USD +0.73%, NZD/USD -0.25%.
- Asian stocks rallied sharply as U.S. policymakers met to design a plan to cope with the market turmoil. The Shanghai composite opened up 9.06% after government support. At 23:40 EDT Japan's Nikkei is +3.25%, the S&P/ASX200 is +4.04%, South Korea's KOSPI is +4.76%, Hong Kong's Hang Seng index is +5. 93%, and the Shanghai composite index is +9.46%.
- Commodities: Nymex crude oil gained +0.29% between 18:00 EDT and 23:44 EDT, last trading at $98.16/bbl. Spot gold lost -5.59%, last trading at $846.90/oz.
Now, let me get this
right. You get more bang for your buck if your shorts or down? or up? LOL
I never realized the stock market was so full of sex talk, naked short positions, shorts up and down, long and short. Heck, the hell with romance novels get me a finance book. LOL Just joshing with ya all. Peace
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
shorts down,
and only when assuming the "position".
*********************************************
The Second Amendment
The ORIGINAL Homeland Security
The only difference is...
For erections lasting more than four hours,you can continue to have a good time,or go sit in the emergency room with an icepack in your lap.
When THIS thing goes south, we are going to be on the receiving end of a large erection called the Federal Reserve gang rape....
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The Second Amendment
The ORIGINAL Homeland Security
The ban
The ban on shorts probably wont apply to commodities (such as silver) i'm assuming?. That's where they would lose.
Only bank and financial stocks like GE credit.....
The banks really own America.
Nobody besides the owners of the country gets that kind of protection.
Trust me. Banking is a Mafia business.
I used to work for Brown Brothers Harriman. Total Mafia.
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
DW Bucks, here's my comment...
we've all heard you (and everyone who seems to know) say that the markets never go straight up or straight down...just long convoluted lines (not coiled or rolled up but, you know, up and down, up and down)...how is it that this week it is either straight up or straight down?
doesn't that defy the "law" of the market?
is this, as DW Bucks has suggested, market manipulation?
how can everything be "ok" now?
how can the gov't "fix" the problem in one day and if they could why didn't they do this a long time ago?
i'm a little worried right now that the end of the market as we know it is very near...i believe the market has been grossly manipulated, the rich have redistributed wealth and taken care of themselves while we, and our 401k's, will dry up to nothing...
i am beginning to feel like freedomofspeech in that, i am pissed!
"they" the gov't, the pres. the disappearing vp, the congress, have not only stolen my future, they've stolen my family's future...
how much longer will i bend over and take it? that is the 64,000 dollar question, isn't it?
O Captain, My Captain, rise up and hear the bells!
its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
ecorob: Good morning
we've all heard you (and everyone who seems to know) say that the markets never go straight up or straight down...just long convoluted lines (not coiled or rolled up but, you know, up and down, up and down)...how is it that this week it is either straight up or straight down? just these two day have been straight line. These are happening for two reasons; the markets were approaching a bottom already and these reactions are also inflammed by the unprecedented gov't. interventions.
doesn't that defy the "law" of the market?
is this, as DW Bucks has suggested, market manipulation?Yes the syndicate traders rely on fast,sharp, panic moves to generate profits. If I can scare you into selling your asset in a panic, I get a better deal.
how can everything be "ok" now?It's temporary.
how can the gov't "fix" the problem in one day and if they could why didn't they do this a long time ago?Every bank who has survived to this point is a part of the 'connected crowd'. (I used to work for (Brown Brothers Harriman). They are "protected". This fix is for the banks not for us. It just feels like its helping us. It's helping my 401k for now...temporary.
i'm a little worried right now that the end of the market as we know it is very near...i believe the market has been grossly manipulated, the rich have redistributed wealth and taken care of themselves while we, and our 401k's, will dry up to nothing...I don't know, but I think we will see the other side of these interventions and it may get ugly.
i am beginning to feel like freedomofspeech in that, i am pissed!
"they" the gov't, the pres. the disappearing vp, the congress, have not only stolen my future, they've stolen my family's future...
how much longer will i bend over and take it? that is the 64,000 dollar question, isn't it?Personally, my strategy is to meet them on the battlefield of trading. I can hurt them there, raise significant capital and prepare for the hard times, if they should come.
Gotta' go markets are opening. Take care.
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
Thanks, I was wondering
Not that I think I have the market figured out at all, but even my limited understanding was boggled by it. I thought the Asians had found our koolaid...
Truth exists, and it deserves to be cherished.
Quote from Bloomberg Article:
"U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke proposed removing troubled assets from the balance sheets of financial companies." It's like they are picking lint out of a navel. Poof, it's gone. Wouldn't it be nice if we could all just remove those pesky car loans, credit card bills, and mortgage payments from our balance sheets. We should contact Paulson and Bernanke and ask them to count us in too.
Thanks for the info
"Evil flourishes when good men do nothing."
—Edmund Burke
A Republic, If You Can Keep It
TREASURY SECRETARY JUST
TREASURY SECRETARY JUST PROMISED BACKING FOR MONEY MARKETS...TO THE TUNE OF $50 BILLION.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Quadrupel Witching Friday -- The market is going to be crazy
Four times each year, contracts for stock index futures, stock index options, stock options and single stock futures all expire on the same day. This is known as the Quadruple Witching Hour. It occurs on the third Friday of the ending quarter month (March, June, September and December).
Friday, September 19, 2008, the hour from 3:00 PM – 4:00 PM EST is the Quadruple Witching Hour.
Be sure to trade with caution on this day. There is usually considerable volatility in the prices, as well as an increased trading volume. Expect this to be a turbulent trading day.
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
REMINDER: ELECTRONIC SESSION
REMINDER: ELECTRONIC SESSION SP500 FUTURES LIMIT UP IS 65 SP HANDLES (5%) BEFORE 09:30EST MARKET OPEN
- SP500 currently up approaching 50 handles.
- Prior to the US cash equity open if the SP Futures trade limit up, trade is halted for 2 minutes, then the market re-opens. If bid limit up again, the SP500 futures will halt for another 2 minutes. This cycle can repeat until 09:30 open.
- Note: There are no upside circuit breakers after the US stock market opens (only +/-5% in the electronic session, and only down -10, -20%, -30% in both sessions).
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
Friday September 19, 2008 6:02:34 AM
Company news: SEC confirmed that it was halting the Short Selling of Financial Stocks to Protect Investors and Markets, effective immediately. The SEC stated it was acting in concert with the U.K. Financial Services Authority in this temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality of the securities market and strengthen investor confidence. The Australian Govt also announced its intent to impose a ban on naked short selling effective Sept. 22. |Note: German Regulator stated that there were no plans to ban short selling in its markets || Airbus [EAD. FR] CEO denied press speculation that its was unable to meet its 2008 delivery target. The CEO stated that Airbus would deliver more than 11 A380 aircrafts this year. The French press noting that the Airbus would not meet its 2008 delivery goal of delivering 8 to 10 A380 aircraft. || Volkswagen [VOW.GE] German State Premier of Lower Saxony stated that they are not acquiring shares in the company. || Plus Markets [PMK.UK] announced new CFO and reports H1 rev £1.6M v £1.68M y/y. || Toshiba [6502.jp] Lowered its FY and H1 guidance citing losses at its chip business on weaker demand for semiconductors. Co now sees its H1 Net -¥40B compared to prior view of ¥55B ; Pretax at -¥45B versus its previous forecast of ¥60B and revenues at ¥1.71T versus ¥1.80T prior. It also noted that its Nand inventory remained abundant and would be some time to diminish supply. It expected NAND prices expected to drop by 60% in 2008/09 period || BASF [BAS.GE] stated that it would cut its polystyrene output in Europe citing lower demand. || Cap Gemini [CAP.FR] Maintained their FY sales and margin outlook noting that the company not adversely impacted by the recent credit crisis. || China Investment Corp Official stated that sovereign wealth funds would remain prudent on any potential foreign investments. The CIC added that Goldman [GS] and Morgan Stanley [MS] need not dependent on others to solve their problems.
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
Confidence??
This is the fourth post in only a handful of days whose article references allude to "confidence" as a main concern in making all these tactical maneuvers, like confidence is the cause and market stability is the effect.
Anybody notice that trend in the lingo? Am I reading too far in?
~~~ Citizenship is not a spectator sport! ~~~
Penfield, Monroe County, New York
Con men live and die by their ability to inspire confidence in
their prey.
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only