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- Why I Am Bearish On The US Dollar
The past two days have been remarkable in terms of the volatility in the equity markets, but how has the US dollar performed? Ironically the dollar rallied on risk aversion the one day, and then rallied on renewed optimism the next. Where we are sitting now is likely in overbought territory, at least in the short term, but most likely the longer term as well.
The Global Outlook Weakens
A lot of the dollar’s recent strength can be attributed to the global outlook (non-US) … [visit site to read more]
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Переслать - Wednesday: Day Ahead For US Financial Markets
Review Of Tuesday:
- Equity markets saw a broad based relief rally caused by a breakout of optimism that the U.S. Congress will revisit the $700bln rescue package
- The FDIC requested temporary authority to increase the deposit insurance limit from $100K to shore up the growing crisis of confidence in the domestic banking system. Members of Congress have suggested the limit could be raised to $250K
- The US dollar saw the single largest increase in … [visit site to read more]
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Переслать - US Dollar Rallies On Quarter End Repatriation
It is the end of the third quarter, and demand for US dollars has been exceptionally strong. This is related to repatriation flows and profit taking following yesterday's big moves. The stock market closed up 488 points, which is approximately 60 percent of Monday's historic sell-off.
On the bailout front, since Congress is on recess for the Jewish holidays, there have been no significant developments. As a result, to credit Tuesday's rally on the hope for a new bailout plan may be a … [visit site to read more]
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Переслать - What Is Securitization? Here Is A Very Basic Example
Securitization is a mystery to many smart, reasonably well informed people, I realized as I was trying to explain it to my barber. So here’s a simplified explanation. Let’s start with a 10-year mortgage. (It’s easier to see the chart with a 10-year mortgage than a 30-year mortgage, but it works the same way with any maturity.
The mortgage consists of 12 payments a year, for 10 years. Let’s group the payments together by year, so each box on the following chart constitutes 12 monthly … [visit site to read more]
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Переслать - Don't Let The Market's Optimism Fool You
Long time no see. Had the market been a little more stable over the last several trading sessions, I might have tried to make more appearances. However, stability is not in the cards, not until the market is appeased with a bailout. As of right now, there is a 85% probability that Congress approves this bailout before Oct 31st, which is why the markets snapped back the way they did. I don’t think I would assign such a high probability to that, which is why I am trying my best to discount the … [visit site to read more]
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Переслать - Bailout Deal: Power Shifts Between Investors, Bankers And Taxpayers
The equity markets sold off hard on Monday on the news of the collapse of the bailout deal. No doubt the authorities will try to cobble together another rescue package soon.
There is no shortage of suggested solutions. For me, the key issue of evaluating the next deal is how the power shifts between investors, bankers and taxpayers.
Fed and other central banks desperately injecting liquidity
Right now, the credit markets have seized up. In response, the world's major … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Charting: Valence Tech
Valence Technologies (VLNC) was requested by a reader today. This is not the type of chart I would trade. The reason is that there are too many erratic swings in the stock. The descending triangle … [visit site to read more]
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Переслать - Market Close: 'Bailout' Bill Going To The Senate Wednesday Night
In late breaking news tonight, we have learned that both sides of the Senate have agreed to take up a vote on the bailout bill. The details we know at this time, are that the Senate will add the current bailout bill to another bill. Additionally, it is being reported that the revised bill will include an increase to the FDIC insurance from $100,000 to $250,000.
The bill will be voted on by the full Senate tomorrow evening at sundown. It is then expected to go to the House on Thursday. The … [visit site to read more]
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Переслать - Corporate Executives Spin Fiction As Truth - Isn't That Some Kind Of Fraud?
One thing I’ve learned through the years is that people often stretch the truth — occasionally to the breaking point — where money is involved.
Call it greed or call it survival (or, perhaps, human nature): the more that is at stake, the greater the risk that you won’t get the straight scoop from those who stand to win or lose based on what comes out of their mouths.
As it happens, I once worked with a (very) cynical fund manager who refused to meet with corporate executives — who … [visit site to read more]
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Переслать - Stock Trading: Good Short Setups Emerging
Congress appears likely to pass some kind of bailout legislation after Monday’s stock market plunge. There have been loads of criticism for the way our representatives have reacted to the crisis. At the same time, none of the choices they face are particularly appealing. Vote for the bailout as is, and risk alienating their constituents, or, push for a better bill that focuses more attention on “main street”, and risk a full blown economic crash due to the delay. Personally, I … [visit site to read more]
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Переслать - Research In Motion Falls - Support Below?
Research in Motion (RIMM), a popular stock for day-traders due to its volatility - recently plunged from an August swing high of $135 to a September low of $60 per share. Let's look at the current chart to see a good "Measured Move" pattern example as well as potential support for RIMM on the weekly chart.
RIMM Daily:
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Переслать - September ETF Performance Report
Tuesday brings to a close one of the most volatile months and quarters for exchange traded funds (ETFS) in stock market history. Several of the country's largest financial institutions failed, some others merged and others were acquired by the government.
There were a number of days that had both gains and losses in the hundreds of points, including yesterday, in which the Dow … [visit site to read more]
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Переслать - Which Do You Buy Now - Campbell Soup Or Apple?
NEWS: With an hour left in trading, the S&P 500 (^GSPC) was up 50 points or 4.5% after yesterday's nearly 9% drop. The Dow (^DJI) had gained back 370 of the 777 it lost yesterday, a gain of 3.6%. And the NASDAQ (^IXIC) was up 86 points, one day after plummeting 200 points. Oil closed back above $100 and gold fell after rising yesterday.
THE BOTTOMLINE: It amazes me, though it shouldn't, the … [visit site to read more]
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Переслать - Maybe A Fed Rate Cut Is ComingThe DJ newswire reported that former Fed Governor Lockhart is jawing about deflation, which in my opinion is signaling a possible rate cut. There are stories suggesting that FASB may fight the rules which are planned to soften FAS157. There’s also some talk about a bailout plan not being passed in its original $700bn package.visit site to read more]
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Переслать - FDIC May Raise Deposit Insurance Limits
The exchange and validation of financial data or ideas are common practices in many industries, and the banking industry is no exception. In fact, FDIC and federal government agencies routinely exchange or implement ideas, and sometimes even apply reforming measures to the system.
According to Reuters - the chairman of the House Financial Services Committee, … [visit site to read more]
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Переслать - Income Funds: The Bull Market No One Is Talking About?
The financial world didn't get its relief on Monday. The bailout plan and any accompanying reprieve just weren't in the cards. I'm not going to harp on the bad news again, I'm sure you've heard it all by now. That's because opportunity is knocking right now.
I will say the bailout plan, or some form of it, will be formalized and approved. Too many politicians have too much riding on it. And then all will go back to normal…for a few days.
We could even get a nice bounce in … [visit site to read more]
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Переслать - 5 Ways That Wall Street's Mess Hurts Main Street: Where Do We Go From Here?
Get your boxing gloves on because the fight is ON! It is Main Street vs. Wall Street and in the latest round, Main Street has won. Despite the protests and tens of thousands of letters, emails and phone calls to their Senators, Main Street needs to realize that there are no winners if Wall Street fails. This is a slippery slope and if Wall Street loses its footing, everyone else could fall as well. This is not to say that I don't agree that bankers need to be … [visit site to read more]
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Переслать - Stock Trading Action Clouded By Intervention And End Of Quarter Propping
It's the last trading day of the quarter and month. Portfolio managers want to minimize as best they can losses and damage for their clients. The Fed and ECB added $50 billion to their members this morning that greased the trading desks. The markets were short-term oversold after yesterday's bloodbath.
We're back approximately to where we were before yesterday's failed vote, or down 300 points.
Many markets sharply reversed course including … [visit site to read more]
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Переслать - Market Uncertainty: Questions Asked By ETF Investors And The Answers
With all the news and uncertainty going on in the markets, many investors are wondering what to do with their exchange traded funds (ETFs) and their portfolios. Here are some questions that we've received from readers and wanted to share with all of you.
Now that the Dow (^DJI) has suffered its largest one-day point loss ever (on Monday 9/29), as an ETF investor, what do I do?
We use and recommend a trend-following strategy, which involves being in … [visit site to read more]
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Переслать - Stock Market Close: Wild Upswing In The Dow On Unimpressive Volume
We're up because the bailout failed…no, we're up because people believe the politicians who say a bailout bill WILL be passed before the week is out…no, we're up on technicals…or, end of quarter shenanigans?
The markets erased much of the loss from yesterday, take your pick of reasons why. Volume was unimpressive, and it felt like just another day. But, maybe I'm just becoming jaded over these wild 300+ swings in the Dow (^DJI).
Bailout or no bailout, … [visit site to read more]
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Переслать - Nasdaq Cancels Google Trading Transactions
To say Google's (GOOG) L2 looked odd today (Tuesday) during trading hours is an understatement. Shares of the Internet search giant experienced an astronomic intraday dip in late afternoon as most tech stocks saw gains. Ticker's PPS was trading somewhere in the mid 200's, not to mention I thought I saw at one point the tape print $0.01.
Speculations almost instantly engulfed the web where the insinuation was how Google's meltdown basically just summed up the … [visit site to read more]
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Переслать - Any Rally In A Bear Market Should Be Guilty Till Proven Innocent
The reason we stay in cash in times of uncertainty and confusion is to avoid days like on Monday. I think this heatmap pretty much sums up what happened Monday when the House failed to pass the rescue plan:
I don't know about you, but I'd much rather trade after the fact than gamble before a significant market changing event. In this volatile market capital preservation is … [visit site to read more]
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Переслать - Forex Trading Commentary: US Dollar Up Sharply On Strong Gains In US Equity Markets
Euro
The euro fell sharply vis-à-vis the U.S. dollar today (Tuesday) as the single currency tested bids around the US$ 1.4010 level and was capped around the $1.4430 level. Strong gains in U.S. equity markets pushed the common currency lower. U.S. legislators have yet to agree on a final bailout package for troubled U.S. financial institutions and many traders continue to believe a US$ 700 billion deal will be reached by Thursday. President Bush said the economy is at a … [visit site to read more]
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Переслать - Stock Picks And Trade Ideas For Wednesday - NOVL, EZPW, BOOM
Early in the morning I read something that made me feel really concerned. One of the best European managers of global operations, Alexander Kapfer, believes that the veto of the plan to rescue the U.S. economy in the amount of 700 billion dollars “is a disaster.” For the manager, the engine of world markets is getting “out of fuel.” Alexander Kapfer is recognized as “star manager” of the German boutique Atkien and responsible for one of the best European equity funds worldwide, the FIVV AKTIEN … [visit site to read more]
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Переслать - Opportunities For Gains In China Financial Stocks
How did Monday’s legislative shock in Washington impact the rest of the world? From North to South, and East to West, the response was severely negative. But there’s an underlying truth about value being revealed in the U.S. right now, and it’s pointing us to big profits in Chinese financial stocks.
You see, Wall Street investment bankers got too crafty with credit. But in China, organic growth is still the main driver of corporate earnings. Leading indexes in Taiwan and Hong Kong … [visit site to read more]
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Переслать - Investors Seeking Safe Haven In Gold Coins And Gold Bullion
Just a few weeks ago the U.S. Mint suspended all sales of the American Eagle gold coins, stating that they were unable to meet the “unprecedented demand” for the popular gold coins. Now, the Mint has been forced to halt sales of the American Buffalo Gold coin because of soaring demand from investors seeking the safety of gold amid growing economic turbulence.
The U.S. Mint recently issued a statement saying, “Demand has exceeded supply for American Buffalo 24-karat gold … [visit site to read more]
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Переслать - Fundamentals Say Housing Market Is Far From A Recovery
Cheap money and artificially inflated housing prices are the root causes of the problems that have been plaguing the real estate market and big financial institutions for the past year.
So while the Fed’s $700 billion bailout provides a much needed lifeline to a financial sector that is close to collapsing after being ensnared in a sticky web of under-performing assets, it does not address the litany of underlying fundamental issues that continue to weigh heavily on the housing … [visit site to read more]
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Переслать - Making Sense Of The Current Crisis Of Confidence In Financial Markets
Trying to make sense of the crisis on Wall Street is not easy, as most investors know by now. Helping us navigate through the gnarly forest of largely-unknown terms and tools today is Manish Jain, the Fixed Income Portfolio Manager for Zacks Investment Management.
What exactly happened when “the markets froze” that caused the fear of a market meltdown and the need for a $700 billion bailout by the Fed?
Basically what's going on is a crisis of … [visit site to read more]
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Переслать - Broadcom Forms Wi-Fi Partnership With Skyhook Wireless
Broadcom (BRCM), one of the top suppliers of integrated circuits (ICs) for broadband communications, announced today that it will upgrade its location based services (LBS) infrastructure to add Wi-Fi positioning capabilities to its LBS portfolio of services.
The Irvine, Calif.-based company, which makes many of the GPS, Wi-Fi and other types of chips in a vast array of phones, intends to integrate the new capability using the Wi-Fi Positioning System developed by Skyhook … [visit site to read more]
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Переслать - Banks' Bad Math - Home Price Indexing Responsible
The Case-Shiller Index below shows exactly why all raters and banks modeling systems are incorrect. This is why values of securities are thought to be higher in value than the street is willing to pay. There is a market for mortgage securities of all kinds, just not at the level at which the owners are willing to accept.
The HPI, Home Price Index, variable is the math that has screwed up the raters from day one as well as all of the banks. Everyone who touches a mortgage loan or security … [visit site to read more]
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Переслать - Consumer, Real Estate News Affects ETFs Differently
Retail and real estate-focused exchange traded funds (ETFs) could be affected by the latest round of good news/bad news from their respective sectors.
Consumer confidence in September actually made some slight gains to hit their highest reading since April, reports Lara Moscrip for CNNMoney. Economists surveyed expected the reading to fall.
Even with the gains, though, the Consumer Confidence … [visit site to read more]
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Переслать - Weekly Review Of New Energy Global Innovation Index NEX
Each week I provide a review of the previous week's performance of the WilderHill New Energy Global Innovation Index, symbol NEX. This information is provided by New Energy Finance. The NEX consists of about 90 stocks from 20 countries in seven sectors and is the bogey for the PowerShares Global Clean Energy Fund (PBD). These results are for the week ending on Friday.
For the week the NEX was down 11.9%. This was in line with the losses on the … [visit site to read more]
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Переслать - Apple In The Bargain Bin Around $100
Tumultuous turmoil in the marketplace has left traders and investors on a selling spree as the US financial crisis spreads through the credit markets and begins to lurk in the nooks and crannies of Main Street economy. While several incredibly leveraged and debt-ridden names deserve to be under the knife of their own implosion other great companies are just being swept into the sandstorm of negativity. Apple (AAPL) is surely one of those names!
Granted, Apple was and may … [visit site to read more]
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Переслать - A Timeline Of Yesterday's Market Plunge
Here is a look at a graphical timeline representing the performance of the Dow as yesterday’s events unfolded:
Graphic courtesy of the WSJ
Basically the Dow was already having a bad day and the bailout plan failing to pass the house was the cinder block that broke the Camel’s back, overall I think it really speaks to how the markets are gripped … [visit site to read more]
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Переслать - The Wachovia Rescue, Banking Consolidation And Size Limits
Here is a quick look at some graphics related to Citigroup’s (C) rescue of Wachovia (WB), first a graphic comparing the two banks in terms of branches, total deposits, etc.
Graphic courtesy of the WSJ
While the numbers for % … [visit site to read more]
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Переслать - Long The SPX On New VIX Record Closes
In light of yesterday's record close in the VIX (^VIX), a reader asked about the historical track record if one were to buy the market when the VIX made a new high.
First, let's detail the history of new end of day highs in the VIX. Working backward, the five most recent new highs came during a span of 8/27/98 to 10/8/98 as the Russian financial crisis morphed into the Long-Term Capital Management crisis. Prior to 1998, the most recent VIX high was from 10/30/97, … [visit site to read more]
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Переслать - As Bailout Deal Is Hashed Out, Markets And ETFs Wait
After yesterday's stunning plunge that left stocks and exchange traded funds (ETFs) nursing some heavy wounds, U.S. and global leaders pulled together to plead with lawmakers to pass a $700 billion bailout plan to save the financial system.
The European and Asian economies woke up to a deepened crisis today, and the global markets ended mixed. Stocks in London and Paris actually rose today, while some Asian markets sold off heavily overnight, visit site to read more]
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Переслать - JP Morgan Looking Smart
While it’s true that in the midst of the Monday Massacre where the Dow (^DJI) fell 777 points J.P. Morgan Chase (JPM) was not spared — the stock fell to $41 per share — this was off near 52-week highs, once the U.S. mega-bank picked up what was left of failed retail bank Washington Mutual last Friday.
But JPM shares are surging strongly on today’s rebound — up $4 per share, nearly 10% — as the Dow bounds up nearly 2.5% in Tuesday’s … [visit site to read more]
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Переслать - Toyota Feeling U.S. Slowdown
Toyota Motor (TM) continues to expand its production capacity in a manner that increases efficiency and meets local demand, powering it to emerge as the world’s financially strongest automaker. A strong presence in North America has been further consolidated by gaining market share from the leading U.S. automakers.
Moreover, the company also has a strong cash flow and a strong balance sheet. However, Toyota is unable to offset sales losses in America even as it continues … [visit site to read more]
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Переслать - After Reloading With Wachovia's Banking Business, Citigroup Takes New Aim At The U.S. Banking Market
Citigroup Inc. (C) will acquire Wachovia Corp.'s (WB) banking operations for $2.l6 billion, a deal that will restore Citi's title as the biggest U.S. bank by assets while transforming the once-highly regarded Wachovia into an investment-management operation.
In becoming the latest big U.S. bank to bolster its assets by rummaging through the remains of a nearly defunct financial institution, Citi agreed to buy Wachovia's banking operations for $1 … [visit site to read more]
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Переслать - Although The Bailout Bill Was Rejected, It's No Time To Panic
Unless you're the chairman of the George W. Bush Presidential Library hoping for one last truly memorable economic achievement that would guarantee some big donations – as well as eventual visitors – the failure of the $700 billion bailout yesterday (Monday) was no time to panic.
Of course, the stock market did panic, with the Dow Jones Industrial Average (^DJI) plunging more than 777 points in its worst-ever single-day point loss (although the 6.98% decline in … [visit site to read more]
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Переслать - Day Ahead In US Financial Markets
Market Movers:
- The failure of the TARP on the floor of the House of Representatives has moved action towards overnight trading in Asia and early morning action in Europe. With the credit markets currently jammed up, volatility should be expected to shape the overnight action and the direction of US markets in early morning trading Tuesday.
- News flow will provide direction for the markets as Congress dithers over what action to take to stem the tide of the growing crisis. … [visit site to read more]
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Переслать - Manulife Financial Expecting Writedowns
Manulife Financial (MFC) is expecting writedowns in 3rd quarter according to a Bloomberg report. It appears that they also have exposure to … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Bearish Patterns In S&P 500 Charts
I want to profile 1-day, 3-day, 5- day, and 10- day charts of the S&P 500 (^GSPC) to point out the technical aspects of what occurred over the past few days. Technically, there were some obvious patterns that dictated holding a short position. I have no idea why anyone would be long.
1-day Chart:
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Переслать - Technically And Fundamentally, Gold Is Looking Good
Gold rose yesterday (Monday) on bank failures and systemic fears in Europe and after the US Congress voted against the Paulson and Bush bailout plan (gold closed at $888.40, up $7.20 while silver closed at $12.93, down 45 cents). Subsequently, gold surged in after hours and in early Asian trading rising to over $923/oz.
We are living in incredible, tumultuous and … [visit site to read more]
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Переслать - Buy, Sell Or Hold: Suncor Energy
Q: Please tell me about Suncor Energy. Thank you. - Reader Joseph A. Kurtz.In July 21, when oil was trading at some $125 a barrel and in an apparent freefall, I issued a scaled "Buy" on Chevron Corp. (CVX). I based this call on the stock's ultra-low valuation and the company's business model, which would enable it to keep posting strong profits even at lower margins. Despite … [visit site to read more]
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Переслать - Charting Of General Motors
A reader asked me to analyze General Motors (GM). Although I do believe the $25 billion in loans that got approved will help automakers in the long-term, the short-term doesn’t look pretty.
The $9-$10 support level … [visit site to read more]
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Переслать - Financial Bailout Plan: Respect Us The Taxpayers And Make Sure We Get Something In Return
Whenever a corporate bailout package is sold to “the people” the primary selling point is always that it’s “the best thing for the economy” , which is (in many ways) disingenuous and honest at the same time. Because while we all have a vested interest in maintaining a strong economy, it doesn’t change any of the following:
In many cases the taxpayer’s daily economic situation won’t change as a result of the bailout, all they’ve done is removed the risk of an … [visit site to read more]
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Переслать - Good Reason To Believe The Paulson Plan Will Be Passed Sometime This Week
Treasury Secretary Hank Paulson and Fed Reserve Chairman Ben Bernanke went all in by putting chips on the table. When this measure was proposed, the markets … [visit site to read more]
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Переслать - Thornburg Mortgage Stock Price Rose 310%
I am not sure exactly what happened but the shares of Thornburg Mortgage (TMA) jumped 310% yesterday. And this was on a day when the rest of the market was falling by 6-10%. I could find no news on the reason for the jump but I will take a guess.
Thornburg has been having problems with creditors wanting to make margin calls on held securities even though an agreement had been reached stopping all margin calls until March 2009. These issues had been preventing TMA from … [visit site to read more]
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Переслать - It's Probably Not The End Of The World
Today (Monday) I was watching the stock markets fall on fears about the financial system. I have been wondering why the problems in the financials have spread so strongly to other sectors where many companies are in good financial shape and continue to grow their businesses. An article by MarketWatch economist Irwin Kellner gives good … [visit site to read more]
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Переслать - House Defeats Wall Street Bailout Bill: Where Do We Go From Here?
The House defeated the Wall Street Bailout bill. Wall Street was not amused. It proceeded to sell off an additional 4% after having been down about 3% before the vote. This was the worst single day on a percentage basis since 9/11.
Let us be clear about one thing: we have to do something. The risk to the system is simply far too great. This is not just about saving Wall Street; Main Street is going to be in a world of hurt if something is not done. The credit markets are frozen … [visit site to read more]
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Переслать - When The Dust Settles: NASDAQ, Dollar, Crude Oil
Today's (Monday’s) action was historic and will likely be remembered for some time to come. The NASDAQ (^IXIC) fell almost 10% ; Crude Oil also fell 10%. The Dollar Index rallied slightly through all the turmoil and the 10-Year Yield fell 5.0% today. Let's see all these developments on their respective daily charts.
The NASDAQ fell 10% today - the largest one-day drop since April, 2000.
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Переслать - Current Crisis: Caused By Bad Bank Management Or Banking Structure?
The graphic below depicts the history of various Investment Banks over the years:
Graphic courtesy of the WSJ
So the obvious take away from all of this is that the lines between I-Banks and Commercial banks were established in the aftermath of the great … [visit site to read more]
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Переслать - Dow Jones' 2-Day Rate Of Change From 1930 Till Today
The two day Rate of Change since 1930
It looks like the largest 2-day rate of change (ROC) was -26%+ in the 1987 Crash. Prior to that ,the largest 2-day ROC was … [visit site to read more]
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Переслать - Genworth Share Price Down 68% On Monday
Genworth Financial (GNW) stock price was down 67.88% on Monday (9/29).
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Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Stocks Plunge On The Failure Of Washington DC To Come Together On A Bailout: A Silver Lining?
Panic struck Wall Street as many are fearing a complete meltdown of the nation's banking system. The media has done a fabulous job, aided by President Bush's plea to the American people to strike fear across this nation. However, many on Main Street feel a bailout only benefits Wall Street rather than Main Street. They can not be more right, rather than help many to stay in homes they would rather stick a bandaid on the issue. To fix this mess, you need to assist the housing market … [visit site to read more]
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Переслать - Advice For Stock Investors
Dear Investor,
I realize that you have questions about what to do with your portfolio.
First, don’t panic.
Though the proposed bailout failed to pass on the first vote, House leaders are working on getting a second vote. If held, this vote may not occur until Thursday because of Rosh Hashanah, the Jewish New Year.
Second, continue to research stocks. Look for fundamentally sound companies with rising earnings estimates that are trading at attractive valuations. Even if you want to … [visit site to read more]
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Переслать - Wall Street Bonuses To Sink In 2008
Over the last two years, Wall Street financiers were able to rake in more than $60 billion in bonuses, much of it in cash. Lehman Brothers (LEHMQ.PK) alone disbursed nearly $6 billion in bonuses in fiscal '07 before recently filing for bankruptcy and becoming one of the largest casualties of the global credit crisis. Bear Stearns, Goldman Sachs (GS), Merrill Lynch (MER), and Morgan Stanley (MS) paid a record $33 … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Consumer Spending Wobbles, Apple Tumbles
On any other day, this story would be big news.
But with so much going on in the world financial markets—and none of it positive— a less than stellar consumer spending number has been pushed down to page 7.
According to the Commerce Department Monday, consumer spending came up short in August as households retrenched and stimulus checks fizzled. Consumer purchases for the month were flat over July, even as economists forecast a 0.2 increase as a follow up to a 0.2% jump for the prior … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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- Bearish Patterns In S&P 500 Charts
- FDIC May Raise Deposit Insurance Limits
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