Archive through February 01, 2008

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jax

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Post Number: 1474
Registered: 07-2007

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Thursday, January 31, 2008 - 07:24 am:

one thing for sure aussie the asx has been betting on .25 cut all week red big everyday so its due to go now .

moonfleet101

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Thursday, January 31, 2008 - 07:30 am:

It picked up after a while Jax but I think that was the usual shorters closing. It happens around the same time every night. I took a short @ 12675 and cashed in @ 12598. Took another short @ 12607 and that's up now after going behind a little. They're not impressed because they know the market's on it's own now and it definitely looks like bleak days ahead! lol

L'abito, non fa il monaco - Mooniccio 2007

moonfleet101

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Thursday, January 31, 2008 - 07:35 am:

Cashed that one in as well Aussie 12567 and now I'm waiting for a little drift up so I can short for an overnight bet. Don't think I'll get it now though. lol

You'd love this game Jax. Don't know why you don't look into trading the indices. It's all action!!! lol

L'abito, non fa il monaco - Mooniccio 2007

moonfleet101

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Thursday, January 31, 2008 - 07:39 am:

Have you seen that drop!!! I always cash in too early. lolol.

L'abito, non fa il monaco - Mooniccio 2007

aussiebuggaa

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Post Number: 571
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Thursday, January 31, 2008 - 07:41 am:

GOODBYE Bulls.

jax

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Thursday, January 31, 2008 - 07:45 am:

yep it went like sunny it went for 5 mins lol.

jax

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Post Number: 1476
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Thursday, January 31, 2008 - 07:52 am:

sideline jax now for me ,holiday time now boys i hope the market drops 20% more then ill be back.when it gets me beat moon i have my 3 months off then start again when its clearer good punting boys cheers jax

moonfleet101

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Thursday, January 31, 2008 - 08:04 am:

The Dow is on a big slide after hours now. It doesn't look too good for your markets in Aus/Asia. Hope you don't get hit too much Risk. Looks like a few bad days ahead.

L'abito, non fa il monaco - Mooniccio 2007

ecchigaijin

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Post Number: 693
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Thursday, January 31, 2008 - 10:05 am:

FDL announces a JV with PRZ

ecchigaijin

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Post Number: 694
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Thursday, January 31, 2008 - 10:08 am:

Not the biggest of news, as it relates to it's Diamond operations. I am still expecting/hoping for a takeover or JV with FMG as it makes both tenements more economically viable than if each proceed independently.

aussiebuggaa

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Post Number: 572
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Thursday, January 31, 2008 - 11:47 am:

This is why Cramer should just Shut UP.

“…
The Fed's move was "incredibly positive," Cramer said, adding that "we are basically out of the woods."
….
"Financials should be bought," Cramer said…..

"The big sell-off has occurred and the group is ready to re-charge," he said”
Source: http://www.cnbc.com/id/22915284

-------------

“U.S. Stocks Decline as Bond-Insurer Concern Outweighs Rate Cut
By Michael Patterson
Jan. 30 (Bloomberg) -- U.S. stocks fell for the first time this week on concern that bond insurers guaranteeing $2.4 trillion in securities will lose AAA credit ratings, erasing a rally spurred by the Federal Reserve's interest-rate cut.
....

An analyst's report forecasting $70 billion of losses for banks should bond insurers face debt downgrades helped extend the S&P 500's worst monthly decline in five years. Financial companies erased a 90-minute, 2.7 percent rally spurred by the fastest easing of monetary policy since 1990.
....

$70 Billion at Stake

The S&P 500 Financials Index of 92 companies had declined before the Fed's decision after Oppenheimer & Co. analyst Meredith Whitney said banks may write down an additional $70 billion if bond insurers lose their top credit ratings. Whitney, who last year correctly predicted that credit-market losses would prompt Citigroup to cut its dividend, downgraded Merrill to ``underperform'' from ``perform'' and said it could face writedowns of as much as $10 billion.

Merrill Chief Executive Officer John Thain said today that the firm's potential maximum losses from bond insurers are only $3.5 billion.

Financial shares may slide again tomorrow. S&P said after the market's close that it lowered or may cut ratings on $534 billion of residential mortgage securities and collateralized debt obligations.
....

Earnings Slump
Profits excluding some items at the 234 companies in the S&P 500 that reported quarterly results so far have declined 34 percent on average, dragged down by losses at financial firms such as Citigroup and Merrill. Earnings at all companies in the S&P 500 probably fell 18 percent on average, the biggest drop since 2001, according to analysts' estimates compiled by Bloomberg.
``We'll probably see earnings lower into '08,'' David Dreman, who oversees $20 billion at Jersey City, New Jersey- based Dreman Value Management LLC, said in an interview with Bloomberg Television. ``This could be a very volatile year.''
....
source: http://www.bloomberg.com/apps/news?pid=20601103&sid=aN0HOZaGH45Y&refer=news

aussiebuggaa

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Post Number: 573
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Thursday, January 31, 2008 - 02:08 pm:

Too much fears in Banking, Short it!.

aussiebuggaa

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Post Number: 574
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Thursday, January 31, 2008 - 02:36 pm:

As said before, what we have seen in Sub prime damage was only 1/5. Here is the other $500bn which should due within the next 6 months. And watch out for the ripple effect. Good luck to those still Long.

"S&P Lowers or May Cut $534 Billion of Subprime Debt (Update4)

By Jody Shenn

Jan. 30 (Bloomberg) -- Standard & Poor's said it cut or may reduce ratings on $534 billion of subprime-mortgage securities and collateralized debt obligations, the most sweeping action in response to rising home-loan defaults.

The downgrades may extend bank losses to more than $265 billion and have a ``ripple impact'' on the broader financial markets, S&P said in a statement today. The securities represent $270.1 billion, or 47 percent, of subprime mortgage bonds rated between January 2006 and June 2007. The New York-based ratings company also said it may cut 572 CDOs valued at $263.9 billion.

The reductions may increase losses at European, Asian and U.S. regional banks, credit unions and government-sponsored enterprises such as Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks, S&P said. Many of those institutions haven't written down their subprime holdings to reflect a drop in market values and these downgrades may force them to recognize losses, S&P said.
...... cut

Foreclosures

S&P's move comes a day after RealtyTrac Inc. said the number of U.S. homeowners entering foreclosure climbed 75 percent in 2007 from a year earlier as mortgages became more difficult to refinance and falling property values made it tougher to sell.

More than 1 percent of U.S. households were in some stage of foreclosure during the year, up from 0.58 percent in 2006, according to RealtyTrac, an Irvine, California-based seller of real estate data.

Home prices in 20 U.S. metropolitan areas fell 7.7 percent in November, the 11th consecutive month of declines, according to the S&P/Case-Shiller home-price index released this week.

``Another issue is the potential for a ripple impact on the broader financial markets,'' S&P said today. "

source: http://www.bloomberg.com/apps/news?pid=20601103&sid=a.pEgRRaJmZc&refer=news

aussiebuggaa

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Post Number: 575
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Thursday, January 31, 2008 - 03:32 pm:

I guess every one is hiding in their bunker...Gonna stop rambling to myself then. LOL.