http://finance.yahoo.com/intlindices
Full Version: IDS World Markets Mon 10th December 07
Stool Pigeons Wire Message Board > Stock Market Message Board > Intraday Stool- Stock Market Short Term Trading
Just a lot of messing around so far. All Ords -0.2% with IT doing a mediocre bounce, +0.6% followed by Materials +0.3%. At the red end, Energy is -1.2% with Property Trusts next, -0.9%.
Little action in the miners: BHP +0.5%, RIO flat. Golds mixed, Newcrest +0.2%, Newmont -0.5% and Lihir flat.
Oils in a selloff: Woodside -1.2%, Santos -2.4% and Caltex -1.1%.
...
Bankers pay lip service to families while scurrying to avert suits, prison
Now, just unveiled Thursday, comes the "freeze," the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of "teaser" subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the "freeze" is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with "working families," keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.
The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.
Now, just unveiled Thursday, comes the "freeze," the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of "teaser" subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the "freeze" is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with "working families," keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.
The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.
All Ords finished down only -0.4% but the mood was bearish overall with four sectors closing down more than a percent. In the bear lead were Energy and IT, -1.8% followed by Telecomms -1.4% and Consumer Staples -1.2%. Materials was the lone green at a tepid +0.3%.
A very ordinary day for the miners: BHP +0.2%, RIO +0.8% and in the golds, Newcrest -0.3%, Newmont +1.2% and Lihir +0.3%. Juniors were picked over, finishing flat to up.
A bearish one for the oils: Woodside -2.1%, Santos -2.4% and Caltex -1.4%.
Asia opened up but appears to be fading: Taiwan -1.4%, Sth Korea -1.3%, Nikkers -0.6%, Honkers +0.3%.
Over to UK/Europe:
http://finance.yahoo.com/intlindices?e=europe
QUOTE(aussiebear @ Dec 9 2007, 09:06 PM)
Bankers pay lip service to families while scurrying to avert suits, prison
Now, just unveiled Thursday, comes the "freeze," the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of "teaser" subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the "freeze" is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with "working families," keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.
The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.
Now, just unveiled Thursday, comes the "freeze," the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of "teaser" subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the "freeze" is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with "working families," keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.
The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.
Interesting, thought-provoking article, aussiebear...
Did you happen to notice that the author, Sean Olender, is an attorney in San Mateo, CA?
There may be a political agenda behind this piece; however, it certainly offers some new perspectives on what's been going on behind the scene.
Why did futures suddenly drop 4 points?
EDIT: seems to be on the UBS news that they're writing down 10billion bad paper
EDIT: seems to be on the UBS news that they're writing down 10billion bad paper
QUOTE(Drano @ Dec 10 2007, 01:17 AM)
Why did futures suddenly drop 4 points?
EDIT: seems to be on the UBS news that they're writing down 10billion bad paper
EDIT: seems to be on the UBS news that they're writing down 10billion bad paper
Down? Heretic! Get him!!!
multi-billion dollar write-downs...old news...desensitization complete...must buy a Wii to support strong consumer spending
QUOTE(EZ_Money @ Dec 10 2007, 03:04 PM)
QUOTE(aussiebear @ Dec 9 2007, 09:06 PM)
Bankers pay lip service to families while scurrying to avert suits, prison
Now, just unveiled Thursday, comes the "freeze," the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of "teaser" subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the "freeze" is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with "working families," keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.
The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.
Now, just unveiled Thursday, comes the "freeze," the brainchild of Treasury Secretary Henry Paulson. It sounds good: For five years, mortgage lenders will freeze interest rates on a limited number of "teaser" subprime loans. Other homeowners facing foreclosure will be offered assistance from the Federal Housing Administration.
But unfortunately, the "freeze" is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with "working families," keeping people in their homes or any of that nonsense.
The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.
The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.
Interesting, thought-provoking article, aussiebear...
Did you happen to notice that the author, Sean Olender, is an attorney in San Mateo, CA?
There may be a political agenda behind this piece; however, it certainly offers some new perspectives on what's been going on behind the scene.
I did notice the author's occupation.
Whether his views are plausible or not is another thing. Doc may have something to say on the subject....
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UBS Up both in London and pre-market USA.
Makes total sense.
All the bad news must be out.
Makes total sense.
All the bad news must be out.
Good Morning!
Welcome to Intraday Stool! Thanks to aussiebear for her daily opening!
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Many tanks for joining us!
Doc
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Welcome to Intraday Stool! Thanks to aussiebear for her daily opening!
You can join the discussion by registering (PG rated user names only, please) and posting here as well.
Registration is easy. Just click the Register link above, enter your email address (which you have the option to keep confidential), and enter a user name. To keep out spammers and scammers, I'll send you an email with a few Monty Python type questions. Just reply with your answers, and I'll approve your registration as soon as I receive your reply.
If you have questions about how to register and post, use the Help link in the menu bar at the top of the page.
If you know others who might be interested in joining us, use the email to a friend link above the thread.
Many tanks for joining us!
Doc
Try the Professional Edition risk free for thirty days. If, within that time you don't find the information helpful, I'll give you a full refund. It's that simple!Click here for more information.
Subscribe to the Wall Street Examiner Professional Edition Precious Metals Daily, just $39 quarterly. Try it risk free for 30 days!
Get this indispensable daily analysis and support the Stool!
In regard to Sean Olender's article above, Mish has given it the thumbs down...
"A number of people have all emailed me with a sensational but preposterous "Mortgage Meltdown" article by Sean Olender about the interest rate freeze.
Yes there is "fraud everywhere" as the article suggests, and yes the freeze "has nothing to do with keeping people in their homes", and yes, "The problem isn't just subprime loans", and yes a "mortgage meltdown" is in process.
But the rest of the article is complete nonsense."
http://globaleconomicanalysis.blogspot.com/
"A number of people have all emailed me with a sensational but preposterous "Mortgage Meltdown" article by Sean Olender about the interest rate freeze.
Yes there is "fraud everywhere" as the article suggests, and yes the freeze "has nothing to do with keeping people in their homes", and yes, "The problem isn't just subprime loans", and yes a "mortgage meltdown" is in process.
But the rest of the article is complete nonsense."
http://globaleconomicanalysis.blogspot.com/
Morning all. If anyone's looking for some reading to Open Link in New Window, Robert Gover has a new piece on Pluto and the Fed that's worth a read.
Not really an intraday topic, but we're heading into some severe astro weather in the last years of this decade, stuff not seen since the 1930s. Also, Pluto entering Capricorn (as it does in 2008) typically corresponds to an all time high, followed by a catastrophic decline.
Irreversible debt deflation is underway, and the fakeassed 'subprime bailout' is the first public band-aid to be placed on the giant carnival derivative tent as it lists and sags and the air begins to whoosh out of it.
If we're going to paint new nominal highs on the equity indices, the bottom & bounce has gotta start soon, if it hasn't already. If it's going to. Which would involve a rally in the PM stocks. Which I'm cautiously bullish on.
There, there's an intraday topic.
Not really an intraday topic, but we're heading into some severe astro weather in the last years of this decade, stuff not seen since the 1930s. Also, Pluto entering Capricorn (as it does in 2008) typically corresponds to an all time high, followed by a catastrophic decline.
Irreversible debt deflation is underway, and the fakeassed 'subprime bailout' is the first public band-aid to be placed on the giant carnival derivative tent as it lists and sags and the air begins to whoosh out of it.
If we're going to paint new nominal highs on the equity indices, the bottom & bounce has gotta start soon, if it hasn't already. If it's going to. Which would involve a rally in the PM stocks. Which I'm cautiously bullish on.
There, there's an intraday topic.
QUOTE(alceringa @ Dec 10 2007, 08:50 AM)
UBS Up both in London and pre-market USA.
Makes total sense.
All the bad news must be out.
Makes total sense.
All the bad news must be out.
actually that is a great indicator as to get long or short etc ... when a stock goes up on bad news .... i would not buy it per say but you can maybe play a broader based move in stocks.
*DJ ECB's Bini Smaghi No Current Credit Crunch
When ever Paulson flies overseas a huge rally in the market follows....He is in China right now...LOA
Tuesday, December 11, 2007 Exp Prev
ET/GMT
0220/0720 Tsy Secy Paulson speaks at the opening of the NY Stock
Exchange office in Beijing
2015/0115 Tsy Secy Paulson give the opening statement at the
U.S.-China Strategic Economic Dialogue in Beijing
Tuesday, December 11, 2007 Exp Prev
ET/GMT
0220/0720 Tsy Secy Paulson speaks at the opening of the NY Stock
Exchange office in Beijing
2015/0115 Tsy Secy Paulson give the opening statement at the
U.S.-China Strategic Economic Dialogue in Beijing
No clear buy signals on 3 day cycle indicators. Conversely, 5 day cycle indicators have edged to sell side, but no breakdown. Trends are intact with spx and qqqq trading at 3 day cycle MAs 1505.34 and 52.40. Dow still well above 3 day cycle MA at 13620.
not much to hang your hat on yet
not much to hang your hat on yet
dow resistance line 13669. If they take that out, could really accelerate. corresponding line on spx at 1510
HUI lifting off nicely out of a nice 6 day reverse H&S base.
USD/JPY achieves target zone, moment of truth ahead....
Crapvision says bond insurance giant MBIA stock is halted pending news.
News is probably all good, will solve everything and we can all just go shopping.
In other news, lots of people crowding into gold and silver this morning.
If MBIA Is AAA, Britney Spears Is Pure as Snow
http://www.bloomberg.com/apps/news?pid=206...id=aapRV5jR2uc0
http://www.bloomberg.com/apps/news?pid=206...id=aapRV5jR2uc0
dow 5 hr cycle projection 13700. spx projection 1510. qqqq 5 hr cycle has rolled over with projection of 52.18. QQQQ sitting right on 5 day cycle MA and trendline at 52.34. 8 day and another trendline are at 52.18.
QUOTE(Slappy @ Dec 10 2007, 09:55 AM)
Crapvision says bond insurance giant MBIA stock is halted pending news.
News is probably all good, will solve everything and we can all just go shopping.
In other news, lots of people crowding into gold and silver this morning.
News is probably all good, will solve everything and we can all just go shopping.
In other news, lots of people crowding into gold and silver this morning.
Judging by the reaction in ABK (+12%), they will probably announce some kind of capital injection.
QUOTE(Sudaca @ Dec 10 2007, 09:56 AM)
If MBIA Is AAA, Britney Spears Is Pure as Snow
http://www.bloomberg.com/apps/news?pid=206...id=aapRV5jR2uc0
http://www.bloomberg.com/apps/news?pid=206...id=aapRV5jR2uc0
I've seen pictures that show she's pretty clean.
Britney that is.
Bond whore MBIA probably less so....
Breakout
5 hr cycle projection now 1514-15 on spx. 13740 on Dow
HO HO HO
DJ Fed Accepts $12 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $12 Bln
Total submitted: $54.4 Bln
Agency Collateral Operation
Total accepted: $3.93 Bln
Total submitted: $26.5 Bln
Stop-Out Rate: 4.46%
Weighted Average: 4.48%
High-rate submitted: 4.5%
Low-rate submitted: 4.39%
Treasury Collateral Operation
Total accepted: $8.07 Bln
Total submitted: $21.15 Bln
Stop-Out Rate: 4.27%
Weighted Average: 4.28%
High-rate submitted: 4.3%
Low-rate submitted: 4.12%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $6.75 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 4.47%
Low-rate submitted: 4.45%
(Data was provided by the New York Federal Reserve Bank).
DJ Fed Accepts $12 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $12 Bln
Total submitted: $54.4 Bln
Agency Collateral Operation
Total accepted: $3.93 Bln
Total submitted: $26.5 Bln
Stop-Out Rate: 4.46%
Weighted Average: 4.48%
High-rate submitted: 4.5%
Low-rate submitted: 4.39%
Treasury Collateral Operation
Total accepted: $8.07 Bln
Total submitted: $21.15 Bln
Stop-Out Rate: 4.27%
Weighted Average: 4.28%
High-rate submitted: 4.3%
Low-rate submitted: 4.12%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $6.75 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 4.47%
Low-rate submitted: 4.45%
(Data was provided by the New York Federal Reserve Bank).
*DJ MBIA Seen Raising Up To $1B In New Capital -Crapvision
QUOTE(Sudaca @ Dec 10 2007, 09:56 AM)
If MBIA Is AAA, Britney Spears Is Pure as Snow
http://www.bloomberg.com/apps/news?pid=206...id=aapRV5jR2uc0
http://www.bloomberg.com/apps/news?pid=206...id=aapRV5jR2uc0
Like the snow on NY streets 2 days after the storm?
got TLAB this am ....
long CNE this am ,,,
QUOTE(potatohead @ Dec 10 2007, 10:03 AM)
HO HO HO
DJ Fed Accepts $12 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $12 Bln
Total submitted: $54.4 Bln
Agency Collateral Operation
Total accepted: $3.93 Bln
Total submitted: $26.5 Bln
Stop-Out Rate: 4.46%
Weighted Average: 4.48%
High-rate submitted: 4.5%
Low-rate submitted: 4.39%
Treasury Collateral Operation
Total accepted: $8.07 Bln
Total submitted: $21.15 Bln
Stop-Out Rate: 4.27%
Weighted Average: 4.28%
High-rate submitted: 4.3%
Low-rate submitted: 4.12%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $6.75 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 4.47%
Low-rate submitted: 4.45%
(Data was provided by the New York Federal Reserve Bank).
DJ Fed Accepts $12 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $12 Bln
Total submitted: $54.4 Bln
Agency Collateral Operation
Total accepted: $3.93 Bln
Total submitted: $26.5 Bln
Stop-Out Rate: 4.46%
Weighted Average: 4.48%
High-rate submitted: 4.5%
Low-rate submitted: 4.39%
Treasury Collateral Operation
Total accepted: $8.07 Bln
Total submitted: $21.15 Bln
Stop-Out Rate: 4.27%
Weighted Average: 4.28%
High-rate submitted: 4.3%
Low-rate submitted: 4.12%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $6.75 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 4.47%
Low-rate submitted: 4.45%
(Data was provided by the New York Federal Reserve Bank).
HO HO HO? It's a wash.
The Fed is TIGHT, especially for this time of year.
More coming up in the Wall Street Examiner Professional Edition Fed Report.
Finally gettin' some love from my dog longs ETFC & AMD
spx 5 hr cycle projection now looks 1517-18
QUOTE(potatohead @ Dec 10 2007, 10:05 AM)
*DJ MBIA Seen Raising Up To $1B In New Capital -Crapvision
1 Billion of new capital, GREAT NEWS!
only a 10 billion writedown of capital, well that's good too!
it's just a matter of scale multiplied by the directional spin factor
I apparently need either a red or a blue pill, and I'm all out of both.
dow 5 hr projection looks 13720
Sold all my GS Dec 240 calls at 2.9.
I'll take the 55% gain in 2 days.
I'll take the 55% gain in 2 days.
Normally this time of year the weather here is cool and breezy. Usually a pleasure with the windows open. Not so today. Muggy. Might need the AC.
On the other hand, we are leaving on Friday to head up to Quebec for the holidays. Temperatures there have been as low as 25 below zero a couple nights already. 2-3 feet of snow on the ground.
It will be fun though. Whole family will be gathering at our house for 5 days. We, and our parents, children, grandchildren, brother and niece.
It will be fun though. Whole family will be gathering at our house for 5 days. We, and our parents, children, grandchildren, brother and niece.
QUOTE(I_Am_Madness @ Dec 10 2007, 11:16 AM)
Sold all my GS Dec 240 calls at 2.9.
I'll take the 55% gain in 2 days.
I'll take the 55% gain in 2 days.
nice mad ....
geez look at cresy today ... i am not holding my trades long enough.
*WSJ: MBIA To Get $1B Investment From Warburg Pincus -Source
MBIA 5yr CDS coming in 95 bps ... was 425 on friday, now at 330
5 hr projection now look 13750 and 1522
*DJ Cost Of Protecting MBIA Debt Drops Sharply On Cap Infusion
Morgan Stanley's Dick Berner joins Merrill's Dave Rosenberg on a recession call...
MBI indicated $35-$39, last trade was at $30.14
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