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- The Financial Sector As We Once Knew It Is No More
Interesting graphic from the WSJ depicting a timeline of the various interventions (and their cost) into the markets executed by the government over the past week or so:
Graphic courtesy of the WSJ
A truly historic eleven day span to say the least, and it possible that over the next week … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Market Recap: Government Rescue Plan Leads To Sharp Rally In US Stocks
The markets rallied today as investors reacted to the government's rescue plan and the temporary ban on short-selling stocks of financial companies. The Dow Jones Industrial Average (^DJI) rose 3.35% up 368.75 points. The S&P500 (^SPY) posted its biggest 2-day gain in nearly 6 years and ended today's session up 48.57 points or 4.03% to close at 1,255.08. The Nasdaq (^IXIC) closed at 2,273.90 up 74.80 … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - California Foreclosure Notices Fall 90% - Problem Solved? No Way
Alert! Big Spin coming to the foreclosure universe soon.
The chart below represents the dramatic fall in the number of Notice of Default (NOD) and Notice of Trustee Sale (NTS) in the state of CA due to the new law, SB 1137. CA went fro3k to 4k notices per day to a few hundred…temporarily. Let me explain.
NOD is the first stage of foreclosure after a borrower misses three to four mortgage payments, depending on the state and lender. NTS is the second stage of foreclosure that gives … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Weekly Sector Summary And What To Look Out For On Monday Morning
WHAT A WEEK! Goodness. How are you feeling today?
First, it's worth noting the entire market instead of just the sectors to give an overview of the significance of today's action. I would like to remind you one thing: It appears that both fundamentals and technicals really just don't matter right now and the hand of the government is the primary driver of the market. I can give you 100 charts and an analysis for each, , but it doesn't really … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Why Investing In China ETFs Is A Smart Play
There’s a saying in international investing circles: “When the U.S. sneezes, the rest of the world catches a cold.”
So what happens when the U.S. has the flu? Today, we start a two-part series on worldwide reactions to this month’s Wall Street mayhem with a Chinese perspective.
The world’s most developed economy can’t figure out what the best medicine is, leading to a little market alchemy in financial markets like China’s that are still in their investment infancy.
After the … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Bank Failure - Ameribank
FOR IMMEDIATE RELEASE
September 19, 2008Media Contact:
David Barr
Cell: (703) 622-4790
dbarr@fdic.govAmeribank, Inc., was closed today by the Office of the Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named receiver. The FDIC entered into purchase and assumption agreements with Pioneer Community Bank, Inc., Iaeger, West Virginia, and The Citizens Savings Bank, Martins Ferry, Ohio to take over all of the deposits and … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Sticking To A Strategy With ETFs Is Also A 'Safe Haven'
After a week like this, in which many financial exchange traded funds (ETFs) have rapidly gained, then just as rapidly plummeted and so on, it's worth taking a look at the assets.
Although today was a better one than a few of the others seen this week, with all this stomach-churning volatility, you almost have to wonder who is in the financial sector right now. As we've pointed out before, these funds are about 50% off their highs, which were reached earlier last year.
Despite … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Oracle Proves Analysts Wrong
Oracle Corp (ORCL) soared 8% on heavy volume a day after the software maker posted a 19% jump in quarterly profit, impressive results in a tough environment. Analysts had expected the company’s business management applications PeopleSoft and Siebel to suffer in the ongoing credit crunch. Oracle’s first-quarter income increased to 29 cents a share before acquisition-related expenses, beating consensus estimates by 11.54%.
Company President Safra Catz said, “If … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Canada Bans Short Selling Too
TORONTO (Reuters) - Canada’s largest securities watchdog said late on Friday that it will follow other international authorities with a temporary ban on short-selling certain financial stocks.
The Ontario Securities Commission said the ban, coming on the heels of similar orders in the United States, Britain and other countries, will be in effect until October … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Trading Volume Of Financial ETFs Ballooned This Week
Exchange traded funds (ETFs) have been making history this week, as Monday gave way to one of the biggest volume trading days ever. This comes after markets have plunged to three year lows and then, Tuesday end up being a massive volume trading day, as well, reports Jim Wiandt for Index Universe.
ETFs have taken a big role within equity … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Traders Buying Option Puts Instead of Shorting Financials?
The table below shows call and put activity at the International Securities Exchange (ISE) during the first two hours of Friday's trading. Keep in mind that the ‘ISEE’ in the table below is a "call to put" ratio, not the "put to call" ratio reported by the CBOE.
As reflected in the table, right out of the gate there was a flood of calls for indices, ETFs, and individual stocks. Note that in the last hour or so, the … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Week Ahead In U.S. Financial Markets (September 22 - September 26 2008)
The week of September 22-26 will see a modest week of US macro data. However, given the dislocation in the markets, the upcoming week will provide a test to see if recent steps taken by global central banks and the immanent mergers of large financials can inject a measure of confidence and stability into markets. The major data releases for the week will be the publication of the existing homes sales and new home sales data for August on Tuesday and Thursday respectively. The durable goods … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - The Real Reason For The Global Financial Crisis…The Story No One's Talking About
Are you shell-shocked? Are you wondering what's really going on in the market? The truth is probably more frightening than even your worst fears. And yet, you won't hear about it anywhere else because "they" can't tell you. "They" are the U.S. Federal Reserve and the U.S. Treasury Department, and they can't tell you what's really going on because there's nothing they can do about it, except what they've been trying to do - add liquidity.
At the exchange rate yesterday … [visit site to read more]
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Переслать - This Market Is Rigged
There, I said it! Market manipulation at its finest. This is truly unbelievable.What is the point of having fundamentals or technicals when the government now exerts … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Treasury Announces Comprehensive Plans To Fight Financial System Crisis
Treasury Secretary Henry Paulson outlined today a comprehensive approach aimed at relieving stresses on financial institutions and markets, as lack of confidence continues to undermine liquidity and affect economic growth.
In his statement, Mr. Paulson stressed the fact that despite steps taken on a case-by-case basis in recent weeks, more decisive and fundamental actions are needed. What should be exigently addressed, he noted, are the illiquidity issues facing mortgage assets that keep … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - The Artificial Inflation Of Stock Prices Due To Short Selling Ban
Short-covering and bidding interest pushed the Dow over 400 points intraday in stock trading on Friday and London’s FTSE 100 closed up by more than 8%. As much as many people are elated at SEC’s ban on short selling, there are also many traders fuming at … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Stock Rally Tempts Carry Traders Back Into The Market, Causing US Dollar To Fall Sharply
Bailout Nation, that’s what comes to my mind when I hear about the Fed and US government coming up with their latest and broadest plan to erase all the toxic mortgage-related assets from banks and other financial institutions (Paulson said Friday that he will ask Congress to take legislative action next week). They have figured it won’t be enough to bail out … [visit site to read more]
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Переслать - Government Resorting To Enron Style Tactics With Resolution Trust Corp
All of the jubilance in financial markets today over the U.S. Government proposal to create a RTC 2.0 that would buy-up the bad mortgage assets of the banks, in order to prop up/save/rescue the financial system, as a cure for the credit crunch, etc, has a rather glaring fatal flaw:
The first RTC wasn’t created to buy toxic assets from struggling banks it was created to assume assets from failed ones, since it didn’t have an investment in the assets and was merely holding them it wasn’t … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Short Selling Ban: Ridiculous And Biased
A couple of interesting tidbits on the SEC’s new short-selling rule:
(From Infectious Greed): “…consider the practical consequences of making it impossible to short financials (and don’t even get me started about disallowing all shorting): What happens, for example, if you’re running a long/short quant fund with billions of dollars and hundreds of positions? Do you give the money back now that you can’t trade on the short side of your fund? Do you push all the … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Martial Law Declared On Financial Markets
Earlier this week, I was thinking about what might qualify as the five most important events in my lifetime. I came up with the following list, which perhaps reflects my personal perspective on the world more than anything else:
- Cuban Missile Crisis (I was born a little after JFK was inaugurated, so I can't go back much farther in time than this)
- 9/11
- Passage of the Civil Rights Act
- Falling of the Berlin Wall / Breakup of Soviet … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Lehman's Last Eight Days: Short Sellers Not To Blame For Demise
Here is a graphic from the Financial Times depicting Lehman’s (LEHMQ.PK) last eight days:
Graphic courtesy of the Financial Times
You can click here to get access to the interactive graphic on the FT web site, along with additional information on Lehman … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Friday Global Investing Roundups - Palm, Oracle, FedEx
- Palm Inc. (PALM) yesterday (Thursday) reported its fifth consecutive quarterly loss, as that maker of the Treo smartphone continued to lose ground to the more popular Blackberry models from rival Research in Motion Ltd. (RIMM). “Revenues will still be under pressure and profits elusive” over the next few quarters, Chief Executive … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - S&P and Russell Have Huge Overnight Upward Gap
I wanted to show a quick snapshot of the S&P 500 and Russell 2000 indexes this morning following the massive overnight gap which is so far being faded but it would surprise me to no end if the entire gap was filled. Let's look:
S&P 500 Daily:
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - The US Government's Financial Crisis Fix-It Plan Sends Stocks Soaring
U.S. stocks rallied the most in six years yesterday (Thursday) - with traders actually cheering the ticker action from the floor of the New York Stock Exchange - on the news that the federal government is taking steps to shore up the unraveling U.S. financial system and end the global credit crisis.
After two straight days of sharp selling, U.S. stocks whipsawed their way to major … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Understanding Money Markets And Safe Haven ETFs
After the credit crisis began to spread earlier last year and kicked financial exchange traded funds (ETFs) left and right, investors increasingly began to look toward traditionally "safe" investments - including money markets.
But this week, the Reserve Primary Fund "broke the buck" after its shares fell to 97 cents because of exposure to Lehman Brothers … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Warren Buffett's Favorite Kraft To Replace Sinking AIG In Dow
As the financial sector continues to roil with uncertainty and unease, Kraft Foods Inc. (KFT) has been selected to replace American International Group Inc. (AIG) in the Dow Jones Industrial Average (^DJI).
AIG stock plunged today (Thursday) after the U.S. Federal Reserve's $85 billion bailout of the flagging insurer, taking the 112-year old … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Forex Trading Commentary: Fed And US Government Take Steps To Shore Up Sagging Financial System
EURO
The euro depreciated vis-à-vis the U.S. dollar Friday as the single currency tested bids around the US$ 1.4150 level and was capped around the $1.4350 level. The common currency clawed its way higher early in the North American session as traders reacted to unprecedented moves by the Federal Reserve and U.S. government to shore up the sagging U.S. … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Central Banks Try To Boost Liquidity As Money Market Melts Down
Central banks yesterday (Thursday) launched a coordinated effort to flood global money markets with U.S. dollars in hopes of easing strained financial systems in danger of freezing up entirely. However, many analysts see this as only a short-term solution that will lower overnight lending rates but fail to assist financial institutions with longer-term cash needs.
In a statement released at 3 … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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управлять всей подпиской: http://www.rss2email.ru/manage.asp - Palm Inc. (PALM) yesterday (Thursday) reported its fifth consecutive quarterly loss, as that maker of the Treo smartphone continued to lose ground to the more popular Blackberry models from rival Research in Motion Ltd. (RIMM). “Revenues will still be under pressure and profits elusive” over the next few quarters, Chief Executive … [visit site to read more]
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