http://quote.yahoo.com/m2?u
Full Version: IDS World Markets Thurs 26th October 06
Stool Pigeons Wire Message Board > Stock Market Message Board > Intraday Stool- Stock Market Short Term Trading
Looks like the Aussie market could be working on a new leg of the great bullrun but needs to back off a touch and soon. Today All Ords +0.5% with barely a red stock on the screen. Nothing radically green in the sectors though, with IT and Telecom the leading sectors, +1%. There's a few reds among the sectors; Healthcare's down the most in that department, -0.5%.
Only modest rises in BHP and RIO, both +0.4%. The golds are looking better led by Newmont, +1.7%.
Oils are up: Woodside +0.8% (low volume) and Santos +1.7%.
It's up in Asia with Nikkers out in front, +0.9%.
German, French Confidence Rise
Oct. 25 (Bloomberg) -- Business confidence in Germany and France unexpectedly rose in October as lower oil prices and exports to Asia brightened the outlook for economic growth in Europe. Stocks rose to the highest in five years and bonds fell.
The Ifo institute in Munich said today its index climbed to 105.3 from 104.9 in September. Economists expected a decline to 104.5, the median of 39 forecasts in a Bloomberg News survey showed. In France, a gauge of optimism advanced to 108 from 106 in September. Germany and France together account for more than half the euro region's economy.
Oct. 25 (Bloomberg) -- Business confidence in Germany and France unexpectedly rose in October as lower oil prices and exports to Asia brightened the outlook for economic growth in Europe. Stocks rose to the highest in five years and bonds fell.
The Ifo institute in Munich said today its index climbed to 105.3 from 104.9 in September. Economists expected a decline to 104.5, the median of 39 forecasts in a Bloomberg News survey showed. In France, a gauge of optimism advanced to 108 from 106 in September. Germany and France together account for more than half the euro region's economy.
Ford Will Double Parts Buying in China to Cut Costs
Oct. 26 (Bloomberg) -- Ford Motor Co., reeling from its biggest loss in 14 years, said it will almost double its purchasing of China-made parts this year to cut production costs.
Ford will buy between $2.5 billion and $3 billion in auto parts in China, said William Ford Jr., chairman of the Dearborn, Michigan-based carmaker. That compares with $1.6 billion to $1.7 billion last year. The parts will be exported to assembly plants in other Asian countries, the U.S. and Europe.
``We are only scratching the surface in China,'' Bill Ford said today in Beijing. ``China is very key to our global sourcing strategy particularly as the quality of the local suppliers ramps up.''
Oct. 26 (Bloomberg) -- Ford Motor Co., reeling from its biggest loss in 14 years, said it will almost double its purchasing of China-made parts this year to cut production costs.
Ford will buy between $2.5 billion and $3 billion in auto parts in China, said William Ford Jr., chairman of the Dearborn, Michigan-based carmaker. That compares with $1.6 billion to $1.7 billion last year. The parts will be exported to assembly plants in other Asian countries, the U.S. and Europe.
``We are only scratching the surface in China,'' Bill Ford said today in Beijing. ``China is very key to our global sourcing strategy particularly as the quality of the local suppliers ramps up.''
Australia's Lowest Paid Workers Get 5.6% Minimum Wage Increase
Oct. 26 (Bloomberg) -- Australia's lowest-paid workers will get a 5.6 percent increase in their weekly wage after the nation's labor tribunal raised the minimum wage.
The Australian Fair Pay Commission increased the minimum wage by A$27.36 ($20.80) to A$511.86 a week from A$484.40, according to a judgment posted on its Web site. The Australian Council of Trade Unions, the nation's main labor union, had sought a 6.2 percent, or A$30 a week, pay increase for 1.6 million workers earning the minimum wage.
Last year, the country's lowest-paid workers got a A$17-a-week, or 3.6 percent, pay increase. Workers who get the annual increase include cleaners, child-care workers and security guards.
Oct. 26 (Bloomberg) -- Australia's lowest-paid workers will get a 5.6 percent increase in their weekly wage after the nation's labor tribunal raised the minimum wage.
The Australian Fair Pay Commission increased the minimum wage by A$27.36 ($20.80) to A$511.86 a week from A$484.40, according to a judgment posted on its Web site. The Australian Council of Trade Unions, the nation's main labor union, had sought a 6.2 percent, or A$30 a week, pay increase for 1.6 million workers earning the minimum wage.
Last year, the country's lowest-paid workers got a A$17-a-week, or 3.6 percent, pay increase. Workers who get the annual increase include cleaners, child-care workers and security guards.
HangTen, AllOrbs and Footsie all at new record record highs in the last 24 hours.....
SandPee 500 (GSPC) is a real tail ender here.
SandPee 500 (GSPC) is a real tail ender here.
We will need another WW to reduce the population otherwise new upcoming middle class will demand more junk foods which may deplete the silos.
Who said irony was dead?
"Wall Street is taking more risk and using more leverage not only because the market allows it; the market almost commands it. Assets-to-equity is up 29 percent for the securities industry as a whole since 2001; for Goldman Sachs, it is up 49 percent. At the latest reporting date in May, Goldman showed $32 billion of equity to support $799 billion of assets, for an assets-to-equity ratio leveraged at 25-to-1."
---Grant's Rate Observer, Sept 22 2006
"U.S. Treasury Secretary Henry Paulson, along with 12 Treasury officials and bankers, will team up on October 19 to promote wise credit habits for U.S. teens as part of the ABA's 'Get Smart About Credit Day'. Paulson will invite students from McLean High School to the Treasury Department for a lesson on using credit cards and the importance of a positive credit history."
---Treasury Department press release, Oct 18 2006
"Wall Street is taking more risk and using more leverage not only because the market allows it; the market almost commands it. Assets-to-equity is up 29 percent for the securities industry as a whole since 2001; for Goldman Sachs, it is up 49 percent. At the latest reporting date in May, Goldman showed $32 billion of equity to support $799 billion of assets, for an assets-to-equity ratio leveraged at 25-to-1."
---Grant's Rate Observer, Sept 22 2006
"U.S. Treasury Secretary Henry Paulson, along with 12 Treasury officials and bankers, will team up on October 19 to promote wise credit habits for U.S. teens as part of the ABA's 'Get Smart About Credit Day'. Paulson will invite students from McLean High School to the Treasury Department for a lesson on using credit cards and the importance of a positive credit history."
---Treasury Department press release, Oct 18 2006
QUOTE(dmm742 @ Oct 26 2006, 02:53 PM)
Who said irony was dead?
"Wall Street is taking more risk and using more leverage not only because the market allows it; the market almost commands it. Assets-to-equity is up 29 percent for the securities industry as a whole since 2001; for Goldman Sachs, it is up 49 percent. At the latest reporting date in May, Goldman showed $32 billion of equity to support $799 billion of assets, for an assets-to-equity ratio leveraged at 25-to-1."
---Grant's Rate Observer, Sept 22 2006
"U.S. Treasury Secretary Henry Paulson, along with 12 Treasury officials and bankers, will team up on October 19 to promote wise credit habits for U.S. teens as part of the ABA's 'Get Smart About Credit Day'. Paulson will invite students from McLean High School to the Treasury Department for a lesson on using credit cards and the importance of a positive credit history."
---Treasury Department press release, Oct 18 2006
"Wall Street is taking more risk and using more leverage not only because the market allows it; the market almost commands it. Assets-to-equity is up 29 percent for the securities industry as a whole since 2001; for Goldman Sachs, it is up 49 percent. At the latest reporting date in May, Goldman showed $32 billion of equity to support $799 billion of assets, for an assets-to-equity ratio leveraged at 25-to-1."
---Grant's Rate Observer, Sept 22 2006
"U.S. Treasury Secretary Henry Paulson, along with 12 Treasury officials and bankers, will team up on October 19 to promote wise credit habits for U.S. teens as part of the ABA's 'Get Smart About Credit Day'. Paulson will invite students from McLean High School to the Treasury Department for a lesson on using credit cards and the importance of a positive credit history."
---Treasury Department press release, Oct 18 2006
Love it
A fairly strong day overall. All Ords closed +0.7% and there wasn't much change in the sectors. Telecom came in top, +1.5% with Healthcare/Property Trusts at the other end, -0.3%.
In the miners, BHP closed +0.7% and RIO +1%. As far as the golds are concerned, Newmont continued to rise, +1.9% but Lihir finished in the red, -0.4% and Newcrest flat.
Oils did very well after a slowish start: Woodside +1.3% and Santos +2.6%.
Not a red to be seen in Asia. Honkers +1% and Nikkers +0.7%.
And on to UK/Europe:
http://quote.yahoo.com/m2?u
Interesting earnings lineup today.
MSFT, XOM, CNX, SUNW, GFI, BMY, CHK, LLL, SNE, SU, YRCW
http://biz.yahoo.com/research/earncal/today.html
and local favorite BIOM
MSFT, XOM, CNX, SUNW, GFI, BMY, CHK, LLL, SNE, SU, YRCW
http://biz.yahoo.com/research/earncal/today.html
and local favorite BIOM
Just took a tour around the worlds bourses and FWIW-
Green almost everywhere! Two of the exceptions are Sri Lank and Iceland-both islands? And Moscow, island of a different kind, I guess.
One of the best performing ETF's in the USA yesterday was South Africa (EZA). But Jo-burg is marginally down today, with the local gold mining index down nearly 2%.
Big craps are outperforming the small craps everywhere.
Norway bourse is up the most. North Sea oil plays leading the charge. Mostly the OIH types, drillers and oil/gas servicing, etc.
Green almost everywhere! Two of the exceptions are Sri Lank and Iceland-both islands? And Moscow, island of a different kind, I guess.
One of the best performing ETF's in the USA yesterday was South Africa (EZA). But Jo-burg is marginally down today, with the local gold mining index down nearly 2%.
Big craps are outperforming the small craps everywhere.
Norway bourse is up the most. North Sea oil plays leading the charge. Mostly the OIH types, drillers and oil/gas servicing, etc.
DJ Fed Accepts $8 Bln In 14-Day RPs
Type of transaction: 14-Day RPs
Total accepted: $8 Bln
Total submitted: $73.25 Bln
Agency Collateral Operation
Total accepted: $222 Mln
Total submitted: $21.9 Bln
Stop-Out Rate: 5.25%
Weighted Average: 5.25%
High-rate submitted: 5.25%
Low-rate submitted: 5.2%
Treasury Collateral Operation
Total accepted: $5.926 Bln
Total submitted: $29.45 Bln
Stop-Out Rate: 5.22%
Weighted Average: 5.22%
High-rate submitted: 5.23%
Low-rate submitted: 5.19%
Mortgage-Backed Collateral Operations
Total accepted: $1.852 Bln
Total submitted: $21.9 Bln
Stop-Out Rate: 5.26%
Weighted Average: 5.26%
High-rate submitted: 5.27%
Low-rate submitted: 5.25%
Type of transaction: 14-Day RPs
Total accepted: $8 Bln
Total submitted: $73.25 Bln
Agency Collateral Operation
Total accepted: $222 Mln
Total submitted: $21.9 Bln
Stop-Out Rate: 5.25%
Weighted Average: 5.25%
High-rate submitted: 5.25%
Low-rate submitted: 5.2%
Treasury Collateral Operation
Total accepted: $5.926 Bln
Total submitted: $29.45 Bln
Stop-Out Rate: 5.22%
Weighted Average: 5.22%
High-rate submitted: 5.23%
Low-rate submitted: 5.19%
Mortgage-Backed Collateral Operations
Total accepted: $1.852 Bln
Total submitted: $21.9 Bln
Stop-Out Rate: 5.26%
Weighted Average: 5.26%
High-rate submitted: 5.27%
Low-rate submitted: 5.25%
RNVS losses increase. Phase 3 drug trial failure. Conference call playing now.
Down 75% to around $3.35 or so from $14.20. Company has about $5 cash/equivalents, no debts other drugs in the pipeline.
Playing a dead cat bounce day trade with beer money.
Down 75% to around $3.35 or so from $14.20. Company has about $5 cash/equivalents, no debts other drugs in the pipeline.
Playing a dead cat bounce day trade with beer money.
I do not know how many read George Ure but today he had an interesting point.
And now - this interesting little revelation for you: There's a case to be made that if the dollar drops, at least initially, the stock market could be propelled upward. The reason? There was once a time when stocks were valued based on their ability to produce earnings and dividends (e.g. free cash) to owners. But lately, ownership of stocks has changed fundamentally. Stocks in some ways act like real estate insofar as you're not buying a dividend stream, you're buying a "property" and with that you're buying "market position" and "niche." Further, a stock - even a declining one - has securitization value - so you can roll more layers of debt into play.
http://www.urbansurvival.com/week.htm
And now - this interesting little revelation for you: There's a case to be made that if the dollar drops, at least initially, the stock market could be propelled upward. The reason? There was once a time when stocks were valued based on their ability to produce earnings and dividends (e.g. free cash) to owners. But lately, ownership of stocks has changed fundamentally. Stocks in some ways act like real estate insofar as you're not buying a dividend stream, you're buying a "property" and with that you're buying "market position" and "niche." Further, a stock - even a declining one - has securitization value - so you can roll more layers of debt into play.
http://www.urbansurvival.com/week.htm
Billy Miller might have something up his sleeves before the year ends.
Isn't he loaded with Yhoo, Amzn & Ebay?
Ebay looks like it's completed a massive ABC down from the 2000 highs.
Still got lots of room before hitting the top of the down channel.
Isn't he loaded with Yhoo, Amzn & Ebay?
Ebay looks like it's completed a massive ABC down from the 2000 highs.
Still got lots of room before hitting the top of the down channel.
Hi Stoolville
Net drain of $7bn from the FED?
Net drain of $7bn from the FED?
It's a bit early. We'll see at 9:52.
From another board, haven't checked the numbers but it feels right.
XOM just reported US$10 Billion profit. That's just 1 Euro cent of profit from every person in the world for every day of the quarter.
My, My, those Euro cents can add up.
XOM just reported US$10 Billion profit. That's just 1 Euro cent of profit from every person in the world for every day of the quarter.
My, My, those Euro cents can add up.
DJ Fed's Geithner: Fed Must Keep Inflation Low And Stable
By Michael S. Derby
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A top Federal Reserve official said Thursday the
central bank must remain to committed to containing inflation in a world made
more challenging by increasing global financial and economic integration.
"In today's rapidly evolving global economy, monetary policy-makers cannot
ignore the international dimension," Federal Reserve Bank of New York
President Timothy Geithner said. "As economies become more open, external
developments inevitably affect price and output dynamics," which means "the
world may thus be more complex and, in some respects the conduct of monetary
policy may be more challenging," Geithner said.
The central banker noted that the increasing integration of global financial
systems has helped lower inflation pressures. But, "the external factors that
have in recent years had a dampening impact on domestic inflation could, at
some point, fade or reverse," he said.
Because the benefits could be short-lived, "it probably makes more
compelling the importance of preserving confidence in our commitment to keep
inflation low and stable, so that we have the flexibility to respond to this
changing world," Geithner said.
Geithner made his remarks in the text of an address to the Columbia Business
School Center on Japanese Economy and Business Twentieth Anniversary
Conference in New York. He spoke a day after the Federal Reserve met and left
interest rates steady for a third straight policy meeting. Geithner did not
comment directly on the near-term monetary policy outlook in his speech.
By Michael S. Derby
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A top Federal Reserve official said Thursday the
central bank must remain to committed to containing inflation in a world made
more challenging by increasing global financial and economic integration.
"In today's rapidly evolving global economy, monetary policy-makers cannot
ignore the international dimension," Federal Reserve Bank of New York
President Timothy Geithner said. "As economies become more open, external
developments inevitably affect price and output dynamics," which means "the
world may thus be more complex and, in some respects the conduct of monetary
policy may be more challenging," Geithner said.
The central banker noted that the increasing integration of global financial
systems has helped lower inflation pressures. But, "the external factors that
have in recent years had a dampening impact on domestic inflation could, at
some point, fade or reverse," he said.
Because the benefits could be short-lived, "it probably makes more
compelling the importance of preserving confidence in our commitment to keep
inflation low and stable, so that we have the flexibility to respond to this
changing world," Geithner said.
Geithner made his remarks in the text of an address to the Columbia Business
School Center on Japanese Economy and Business Twentieth Anniversary
Conference in New York. He spoke a day after the Federal Reserve met and left
interest rates steady for a third straight policy meeting. Geithner did not
comment directly on the near-term monetary policy outlook in his speech.
*DJ Ex-Fed Chmn Greenspan: 4Q Growth Looks 'Reasonably Good'
*DJ Greenspan: Most Housing Negatives Likely Behind Us
*DJ Greenspan: Most Housing Negatives Likely Behind Us
DJ Exxon Mobil 3Q Net $10.49B Vs $9.92B >XOM
DOW JONES NEWSWIRES
Exxon Mobil Corp. (XOM) Thursday reported third-quarter earnings of $10.49
billion, or $1.77 per share, up from a year-ago profit of $9.92 billion, or
$1.58 per share.
The Irving, Texas-based company attributed the higher earnings to the impact
of its continuing share purchase program, higher crude oil and natural gas
realizations and improved marketing and chemical margins.
The average estimate of analysts polled by Thomson First Call was for a
profit of $1.59 a share in the September period.
Excluding items in the year-ago period, the Dow component earned $8.3
billion, or $1.32 a share.
Revenue slipped in the latest three months to $99.59 billion from $100.72
billion in the same period a year earlier.
DOW JONES NEWSWIRES
Exxon Mobil Corp. (XOM) Thursday reported third-quarter earnings of $10.49
billion, or $1.77 per share, up from a year-ago profit of $9.92 billion, or
$1.58 per share.
The Irving, Texas-based company attributed the higher earnings to the impact
of its continuing share purchase program, higher crude oil and natural gas
realizations and improved marketing and chemical margins.
The average estimate of analysts polled by Thomson First Call was for a
profit of $1.59 a share in the September period.
Excluding items in the year-ago period, the Dow component earned $8.3
billion, or $1.32 a share.
Revenue slipped in the latest three months to $99.59 billion from $100.72
billion in the same period a year earlier.
9:11 (Dow Jones) Sentiment in reports from the Street on GM this morning is
rather sour. In its 3Q postmortem, Lehman says results "reinforce our view
that GM does not offer earnings or cash generation power to support the
current price." Bear Stearns voices a common theme, noting "Strong headline,
weak quality" to the numbers. Cash flow trend troubles Citigroup, which notes
operating cash flow fell $1.5B year over year, ex-restructuring costs. Calyon
cuts GM to neutral, saying risk/reward isn't "overly compelling." (JHS)
rather sour. In its 3Q postmortem, Lehman says results "reinforce our view
that GM does not offer earnings or cash generation power to support the
current price." Bear Stearns voices a common theme, noting "Strong headline,
weak quality" to the numbers. Cash flow trend troubles Citigroup, which notes
operating cash flow fell $1.5B year over year, ex-restructuring costs. Calyon
cuts GM to neutral, saying risk/reward isn't "overly compelling." (JHS)
Amazing what a little bankruptcy can do
no debt
no pension
no old bitchy shareholders
Shares of US Airways Group Inc. (LCC) were up 3% at $50.00 in premarket
trading after the air carrier said it narrowed its third-quarter loss to $78
million, or 88 cents a share.
The latest results includes $179 million in special items related to merger
expenses with America West and fuel-hedging losses.
Excluding items, the latest earnings were $1.09 a share. Analysts surveyed
by First Call projected mean earnings of $1.01 a share on sales of $3.02
billion.
A year ago, the carrier posted a loss of $99 million, or $5.74 a share.
Third-quarter sales rose to $2.97 billion from $929 million a year earlier.
Also, US Airways predicts a profit in the "seasonally difficult" fourth
quarter.
no debt
no pension
no old bitchy shareholders
Shares of US Airways Group Inc. (LCC) were up 3% at $50.00 in premarket
trading after the air carrier said it narrowed its third-quarter loss to $78
million, or 88 cents a share.
The latest results includes $179 million in special items related to merger
expenses with America West and fuel-hedging losses.
Excluding items, the latest earnings were $1.09 a share. Analysts surveyed
by First Call projected mean earnings of $1.01 a share on sales of $3.02
billion.
A year ago, the carrier posted a loss of $99 million, or $5.74 a share.
Third-quarter sales rose to $2.97 billion from $929 million a year earlier.
Also, US Airways predicts a profit in the "seasonally difficult" fourth
quarter.
QUOTE(potatohead @ Oct 26 2006, 08:27 AM)
Amazing what a little bankruptcy can do
no debt
no pension
no old bitchy shareholders
Shares of US Airways Group Inc. (LCC) were up 3% at $50.00 in premarket
trading after the air carrier said it narrowed its third-quarter loss to $78
million, or 88 cents a share.
The latest results includes $179 million in special items related to merger
expenses with America West and fuel-hedging losses.
Excluding items, the latest earnings were $1.09 a share. Analysts surveyed
by First Call projected mean earnings of $1.01 a share on sales of $3.02
billion.
A year ago, the carrier posted a loss of $99 million, or $5.74 a share.
Third-quarter sales rose to $2.97 billion from $929 million a year earlier.
Also, US Airways predicts a profit in the "seasonally difficult" fourth
quarter.
no debt
no pension
no old bitchy shareholders
Shares of US Airways Group Inc. (LCC) were up 3% at $50.00 in premarket
trading after the air carrier said it narrowed its third-quarter loss to $78
million, or 88 cents a share.
The latest results includes $179 million in special items related to merger
expenses with America West and fuel-hedging losses.
Excluding items, the latest earnings were $1.09 a share. Analysts surveyed
by First Call projected mean earnings of $1.01 a share on sales of $3.02
billion.
A year ago, the carrier posted a loss of $99 million, or $5.74 a share.
Third-quarter sales rose to $2.97 billion from $929 million a year earlier.
Also, US Airways predicts a profit in the "seasonally difficult" fourth
quarter.
How many time have we seen this. A company goes into BK, rob all the existing share holders of all their money and then come out of BK a year or so later with new shares. Shares then get power boned into the moon.
QUOTE(alceringa @ Oct 26 2006, 07:52 AM)
RNVS losses increase. Phase 3 drug trial failure. Conference call playing now.
Down 75% to around $3.35 or so from $14.20. Company has about $5 cash/equivalents, no debts other drugs in the pipeline.
Playing a dead cat bounce day trade with beer money.
Down 75% to around $3.35 or so from $14.20. Company has about $5 cash/equivalents, no debts other drugs in the pipeline.
Playing a dead cat bounce day trade with beer money.
Whats your target? I'm in at 3.55
Thinking $4.25. Prolly wrong.
DJ Fed Accepts $7.5 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $7.5 Bln
Total submitted: $56.5 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $9.05 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.22%
Treasury Collateral Operation
Total accepted: $7.5 Bln
Total submitted: $42.35 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.2%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.23%
Type of transaction: Overnight RPs
Total accepted: $7.5 Bln
Total submitted: $56.5 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $9.05 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.22%
Treasury Collateral Operation
Total accepted: $7.5 Bln
Total submitted: $42.35 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.2%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.23%
Watching volume here also. 5 million shares short. Couple of million traded premarket. 12 million more in first 10 minutes.
Gussing that at around 18 million shares in regular hours all the shorts will have covered.
Gussing that at around 18 million shares in regular hours all the shorts will have covered.
QUOTE(alceringa @ Oct 26 2006, 08:39 AM)
Thinking $4.25. Prolly wrong.
It just did well over 1000% volume off the open. Huge block shares scooping it up. I am leaving a little when I sell for ltbh.
DJ Ex-Fed Greenspan: 4Q Growth Looks 'Reasonably Good' -2-
Greenspan said he sees "early signs of stabilization" in housing with a
"flattening" in sales.
He said one indicator he watches for a gauge of housing, weekly Mortgage
Bankers Association mortgage applications figures, "have flattened" at
relatively high levels.
The former Fed Chairman, who served in that role from 1987 until January
2006, also said that the woes being experienced by major U.S. carmakers is "in
a way" symbolic of the manufacturing sector in general.
"Manufacturing is something we were terrific at 50 years ago," Greenspan
said. But manufacturing "is essentially a 19th and 20th century technology,"
Greenspan added, and no longer a very large part of the U.S. economy.
Greenspan said services are becoming a growing share of the economy, which
shows that the U.S. is "moving into the 21st century."
Greenspan said he sees "early signs of stabilization" in housing with a
"flattening" in sales.
He said one indicator he watches for a gauge of housing, weekly Mortgage
Bankers Association mortgage applications figures, "have flattened" at
relatively high levels.
The former Fed Chairman, who served in that role from 1987 until January
2006, also said that the woes being experienced by major U.S. carmakers is "in
a way" symbolic of the manufacturing sector in general.
"Manufacturing is something we were terrific at 50 years ago," Greenspan
said. But manufacturing "is essentially a 19th and 20th century technology,"
Greenspan added, and no longer a very large part of the U.S. economy.
Greenspan said services are becoming a growing share of the economy, which
shows that the U.S. is "moving into the 21st century."
QUOTE(potatohead @ Oct 26 2006, 06:17 AM)
*DJ Ex-Fed Chmn Greenspan: 4Q Growth Looks 'Reasonably Good'
*DJ Greenspan: Most Housing Negatives Likely Behind Us
*DJ Greenspan: Most Housing Negatives Likely Behind Us
Betting on Greenscam's predictions hasn't worked out too well since 1973.
Ok, I out of NRVS, beer money in hand.
Wanted 20 cases, coulda had 15, leaving with 8. Past my bedtime.
Might rebounce here or tomorrow. Selling at or below cash/share now.
Wanted 20 cases, coulda had 15, leaving with 8. Past my bedtime.
Might rebounce here or tomorrow. Selling at or below cash/share now.
QUOTE(potatohead @ Oct 26 2006, 08:16 AM)
DJ Fed's Geithner: Fed Must Keep Inflation Low And Stable
By Michael S. Derby
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A top Federal Reserve official said Thursday the
central bank must remain to committed to containing inflation in a world made
more challenging by increasing global financial and economic integration.
"In today's rapidly evolving global economy, monetary policy-makers cannot
ignore the international dimension," Federal Reserve Bank of New York
President Timothy Geithner said. "As economies become more open, external
developments inevitably affect price and output dynamics," which means "the
world may thus be more complex and, in some respects the conduct of monetary
policy may be more challenging," Geithner said.
The central banker noted that the increasing integration of global financial
systems has helped lower inflation pressures. But, "the external factors that
have in recent years had a dampening impact on domestic inflation could, at
some point, fade or reverse," he said.
Because the benefits could be short-lived, "it probably makes more
compelling the importance of preserving confidence in our commitment to keep
inflation low and stable, so that we have the flexibility to respond to this
changing world," Geithner said.
Geithner made his remarks in the text of an address to the Columbia Business
School Center on Japanese Economy and Business Twentieth Anniversary
Conference in New York. He spoke a day after the Federal Reserve met and left
interest rates steady for a third straight policy meeting. Geithner did not
comment directly on the near-term monetary policy outlook in his speech.
By Michael S. Derby
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A top Federal Reserve official said Thursday the
central bank must remain to committed to containing inflation in a world made
more challenging by increasing global financial and economic integration.
"In today's rapidly evolving global economy, monetary policy-makers cannot
ignore the international dimension," Federal Reserve Bank of New York
President Timothy Geithner said. "As economies become more open, external
developments inevitably affect price and output dynamics," which means "the
world may thus be more complex and, in some respects the conduct of monetary
policy may be more challenging," Geithner said.
The central banker noted that the increasing integration of global financial
systems has helped lower inflation pressures. But, "the external factors that
have in recent years had a dampening impact on domestic inflation could, at
some point, fade or reverse," he said.
Because the benefits could be short-lived, "it probably makes more
compelling the importance of preserving confidence in our commitment to keep
inflation low and stable, so that we have the flexibility to respond to this
changing world," Geithner said.
Geithner made his remarks in the text of an address to the Columbia Business
School Center on Japanese Economy and Business Twentieth Anniversary
Conference in New York. He spoke a day after the Federal Reserve met and left
interest rates steady for a third straight policy meeting. Geithner did not
comment directly on the near-term monetary policy outlook in his speech.
He has to keep all the bagholders calm.
Anyone buying this dip? 
QUOTE(I_Am_Madness @ Oct 26 2006, 08:32 AM)
Anyone buying this dip?
QCOM
Thinking about it. Took profits on QQQQ, SPY, DIA, VLO, CEF and SLW this
morning and back in cash. Bought Berkshire yesterday and we'll see how
that one goes - my only stock holding at the moment.
Had a look at the repos and it looks like a net drain of about $5 or $6 based on what I read from Doc yesterday. Can someone confirm?
I'm just mainly using DIA, QQQQ, SPY for plays these days as they're easy to follow.
morning and back in cash. Bought Berkshire yesterday and we'll see how
that one goes - my only stock holding at the moment.
Had a look at the repos and it looks like a net drain of about $5 or $6 based on what I read from Doc yesterday. Can someone confirm?
I'm just mainly using DIA, QQQQ, SPY for plays these days as they're easy to follow.
QUOTE(potatohead @ Oct 26 2006, 06:43 AM)
DJ Fed Accepts $7.5 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $7.5 Bln
Total submitted: $56.5 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $9.05 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.22%
Treasury Collateral Operation
Total accepted: $7.5 Bln
Total submitted: $42.35 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.2%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.23%
Type of transaction: Overnight RPs
Total accepted: $7.5 Bln
Total submitted: $56.5 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $9.05 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.22%
Treasury Collateral Operation
Total accepted: $7.5 Bln
Total submitted: $42.35 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.2%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.23%
Thanks Tater! appreciate the daily brief. Today's request is quite amazing, totally 130 Billion!
QUOTE(Speakeasy @ Oct 26 2006, 08:40 AM)
QUOTE(potatohead @ Oct 26 2006, 06:43 AM)
DJ Fed Accepts $7.5 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $7.5 Bln
Total submitted: $56.5 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $9.05 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.22%
Treasury Collateral Operation
Total accepted: $7.5 Bln
Total submitted: $42.35 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.2%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.23%
Type of transaction: Overnight RPs
Total accepted: $7.5 Bln
Total submitted: $56.5 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $9.05 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.22%
Treasury Collateral Operation
Total accepted: $7.5 Bln
Total submitted: $42.35 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.2%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.27%
Low-rate submitted: 5.23%
Thanks Tater! appreciate the daily brief. Today's request is quite amazing, totally 130 Billion!
someone has to keep the furnace going
Unfazed by morning weakness....still up over 1 buck.
Amaz'n strength.
Not shorting it.
Amaz'n strength.
Not shorting it.
*WSJ:GAO To Audit SEC's Enforcement, Examination Divisions
Typical XOM earnings announce. Record profits setup a nice shorting opportunity before the market opens. Same thing happend last time too.
Still looking to buy the dip on the indexes today.
Still looking to buy the dip on the indexes today.
Hank "Pat" Paulson on housing yesterday: "We had a retail housing market in this country that was growing at an unsustainable rate for a number of years, so we had to make that transition from...unsustainable growth to a more sustainable rate."
I guess his view is that housing prices, which saw homes in some markets double or triple is just a handful of years, will now simply revert to their l/t appreciation rates of 5-10% a year.
LOL.
BTW, the median home price index today showed the biggest one-period drop in 36 years. Unsustainable to sustainable, I guess.
Thank goodness the stock market will bail everyone out.
I guess his view is that housing prices, which saw homes in some markets double or triple is just a handful of years, will now simply revert to their l/t appreciation rates of 5-10% a year.
LOL.
BTW, the median home price index today showed the biggest one-period drop in 36 years. Unsustainable to sustainable, I guess.
Thank goodness the stock market will bail everyone out.
QUOTE(mmoy @ Oct 26 2006, 07:49 AM)
Typical XOM earnings announce. Record profits setup a nice shorting opportunity before the market opens. Same thing happend last time too.
Still looking to buy the dip on the indexes today.
Still looking to buy the dip on the indexes today.
The Spooz is down 2 points? That's a dip?
QUOTE(I_Am_Madness @ Oct 26 2006, 09:32 AM)
Anyone buying this dip?
What dip? The dow is down 35pts. Homebubblers are down $0.15-0.25
THIS IS A CRASH!!!!
Fed will be calling an emergency meeting over the weekends to cut rates!!!! Traders better get long futures for Bens helicopter run.
Oh sorry, I was putting on makeup and thought I was on Crapvision for a moment.
IYR (REIT etf) at new highs today. Still green. I/T target at 83+, IMO. That's still another 1.6%+ higher. Over past few years, IYR I/T tops have frequently coincided with SPX inflection points as well. If so, we could see an IYR top this week or next and a SPX top too. Last few IYR correx have been in the 11-13% range, so well worth playing on the downside. If past is prologue, of course.
Or we could see an IYR top and a s/t SPX top, after which IYR continues to decline while the SPX re-rallies. This is what we saw from Mar-May06 when IYR topped in March and fell until end of May while SPX consolidated in Mar (dropped 30 points), then re-rallied to a May top.
Or we could see an IYR top and a s/t SPX top, after which IYR continues to decline while the SPX re-rallies. This is what we saw from Mar-May06 when IYR topped in March and fell until end of May while SPX consolidated in Mar (dropped 30 points), then re-rallied to a May top.
QUOTE(dmm742 @ Oct 26 2006, 10:53 AM)
QUOTE(mmoy @ Oct 26 2006, 07:49 AM)
Typical XOM earnings announce. Record profits setup a nice shorting opportunity before the market opens. Same thing happend last time too.
Still looking to buy the dip on the indexes today.
Still looking to buy the dip on the indexes today.
The Spooz is down 2 points? That's a dip?
Yeah, I know. It looks big on my rt chart. I wish they had a green line to indicate the previous day's close as small moves can look big on QuoteTracker. I have 52 charts on my 17 inch screen so they're a little small.
Only green on my screen is REITs and gold. Now there's a curious couple.
QUOTE(potatohead @ Oct 26 2006, 08:27 AM)
Amazing what a little bankruptcy can do
no debt
no pension
no old bitchy shareholders
Shares of US Airways Group Inc. (LCC) were up 3% at $50.00 in premarket
trading after the air carrier said it narrowed its third-quarter loss to $78
million, or 88 cents a share.
The latest results includes $179 million in special items related to merger
expenses with America West and fuel-hedging losses.
Excluding items, the latest earnings were $1.09 a share. Analysts surveyed
by First Call projected mean earnings of $1.01 a share on sales of $3.02
billion.
A year ago, the carrier posted a loss of $99 million, or $5.74 a share.
Third-quarter sales rose to $2.97 billion from $929 million a year earlier.
Also, US Airways predicts a profit in the "seasonally difficult" fourth
quarter.
no debt
no pension
no old bitchy shareholders
Shares of US Airways Group Inc. (LCC) were up 3% at $50.00 in premarket
trading after the air carrier said it narrowed its third-quarter loss to $78
million, or 88 cents a share.
The latest results includes $179 million in special items related to merger
expenses with America West and fuel-hedging losses.
Excluding items, the latest earnings were $1.09 a share. Analysts surveyed
by First Call projected mean earnings of $1.01 a share on sales of $3.02
billion.
A year ago, the carrier posted a loss of $99 million, or $5.74 a share.
Third-quarter sales rose to $2.97 billion from $929 million a year earlier.
Also, US Airways predicts a profit in the "seasonally difficult" fourth
quarter.
Amazing how the NONRECURRING items keep reoccurring, only with a different name.
From yahoo finace. the column on the left is the quater ending Jun 05
looks to this non accountant like the shareholder equity is a NEGATive 661 mil and net assests are a NEGATIVE 3,668bil
Is that right?Stockholders' Equity
Misc Stocks Options Warrants - - - -
Redeemable Preferred Stock - - - -
Preferred Stock - - - -
Common Stock 56,000 56,000 56,000 56,000
Retained Earnings (1,128,000) (1,067,000) (785,000) (549,000)
Treasury Stock (3,000) (3,000) (3,000) (3,000)
Capital Surplus 410,000 410,000 410,000 409,000
Other Stockholder Equity 4,000 6,000 (112,000) (41,000)
Total Stockholder Equity (661,000) (598,000) (434,000) (128,000)
Net Tangible Assets ($3,668,000) ($3,612,000) ($3,456,000) ($3,157,000)
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