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Full Version: IDS World Markets Thurs 7th February 08
Stool Pigeons Wire Message Board > Stock Market Message Board > Intraday Stool- Stock Market Short Term Trading
There's a few sellers around but overall the market not looking particularly bearish. All Ords -0.4%, the only green sector is Healthcare +1.6% and among the reds, Property Trusts and Consumer Staples are down the most, -0.9%.
Miners are reasonably stable: BHP -0.4% and RIO -1.2%. Golds are slightly up: Newcrest +1.2%, Newmont flat and Lihir +0.9%.
Oils green: Woodside +0.1%, Santos +0.7% and Caltex +3.4%.
New Zealand's Unemployment Rate Falls to Record Low
Feb. 7 (Bloomberg) -- New Zealand's jobless rate fell to a record low as companies hired more workers than forecast, reinforcing prospects the central bank won't cut interest rates.
The unemployment rate dropped to 3.4 percent in the final quarter of 2007 from 3.5 percent in the previous three months, Statistics New Zealand said in Wellington today, citing seasonally adjusted figures. Businesses added 23,000 workers in the quarter, almost four times the pace forecast by economists.
Feb. 7 (Bloomberg) -- New Zealand's jobless rate fell to a record low as companies hired more workers than forecast, reinforcing prospects the central bank won't cut interest rates.
The unemployment rate dropped to 3.4 percent in the final quarter of 2007 from 3.5 percent in the previous three months, Statistics New Zealand said in Wellington today, citing seasonally adjusted figures. Businesses added 23,000 workers in the quarter, almost four times the pace forecast by economists.
A meandering sort of day. All Ords closed -0.2% with a sprinkling of green sectors. Healthcare remained on top, +1.2% followed by Telecomms +1.1% and miners +0.6%. Financials were down the most, -0.9%.
In the miners, BHP eked out a gain, +0.7% and RIO closed down slightly, -0.1%. Golds looking ok: Newcrest +1.9%, Newmont +1.1%, Lihir +3%. Juniors mixed.
Oils mixed: Woodside -1.2%, Santos +3.1% and Caltex +1.3%.
Not too much open in Asia: India -0.3% and Nikkers +0.3%.
Over to UK/Europe:
http://finance.yahoo.com/intlindices?e=europe
Whoaa! Cramer getting reamed by a bond guy this morning on CNBS. Getting throughly schooled.
Bank cuts interest rates to 5.25%
The Bank of England's rate-setting committee has cut interest rates to 5.25% from 5.5% in an attempt to stimulate growth in the UK economy.
This follows recent rate cuts by the US Federal Reserve, which sliced rates from 4.25% to 3.0% amid fears of the widening impact of the credit crunch.
Many analysts expect more UK cuts this year, but say inflation fears will stop the UK cutting rates as much as the US.
The Bank of England's rate-setting committee has cut interest rates to 5.25% from 5.5% in an attempt to stimulate growth in the UK economy.
This follows recent rate cuts by the US Federal Reserve, which sliced rates from 4.25% to 3.0% amid fears of the widening impact of the credit crunch.
Many analysts expect more UK cuts this year, but say inflation fears will stop the UK cutting rates as much as the US.
the comments made by the BoE are anything but rosy.
Market crashing dollah rising from the grave, my USD denominated shorts are going up even before the market opens.
Time for CNBS to fire Cramer. He feels he can now tell the other reporters what to do and think. Now he's into with Gasparino telling him he can't report on Bears pending indictments. What, is he the new GM of CNBS? We don't respect CNBS here, but the do *pretend* to be journalist. This is looking really bad for them. Maybe some of the media watch sites will pick it up.
QUOTE(aussiebear @ Feb 7 2008, 07:08 AM)
Bank cuts interest rates to 5.25%
The Bank of England's rate-setting committee has cut interest rates to 5.25% from 5.5% in an attempt to stimulate growth in the UK economy.
This follows recent rate cuts by the US Federal Reserve, which sliced rates from 4.25% to 3.0% amid fears of the widening impact of the credit crunch.
Many analysts expect more UK cuts this year, but say inflation fears will stop the UK cutting rates as much as the US.
The Bank of England's rate-setting committee has cut interest rates to 5.25% from 5.5% in an attempt to stimulate growth in the UK economy.
This follows recent rate cuts by the US Federal Reserve, which sliced rates from 4.25% to 3.0% amid fears of the widening impact of the credit crunch.
Many analysts expect more UK cuts this year, but say inflation fears will stop the UK cutting rates as much as the US.
ECB holds, inflation fighting to the death.
Markets weren't reaction too well to the UK cut.
Good Morning!
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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.
Bulls need a reversal early, or this could be one of the ugliest days we've had yet, methinks. SPY has gone way below its 3 day cycle projection and is taking aim on a 5 day cycle projection of 131. DIA is structured a little differently right now, with a 3 day cycle projection of 120.25. QQQQ has hit its 3 day cycle projection of 42. 5 day cycle projection is just below that at 41.90, so I would expect this area to hold for now. All look like they want to put in a 5 hr cycle low here.
Overall this looks like a good place for a holding action. But if it's weak, or doesn't materialize, then I think the risik of a crash is as high is it ever will be. That's never very high, but right here, right now is as good as it gets for the Big One to unfold. There's always a very fine line between a reversal and a crash, and right now we're on it.
Overall this looks like a good place for a holding action. But if it's weak, or doesn't materialize, then I think the risik of a crash is as high is it ever will be. That's never very high, but right here, right now is as good as it gets for the Big One to unfold. There's always a very fine line between a reversal and a crash, and right now we're on it.
Uncle Buck...the setup was so there...
USD/CHF appears to just be gettin underway
QUOTE(FauxCaster @ Feb 7 2008, 08:03 AM)
Time for CNBS to fire Cramer. He feels he can now tell the other reporters what to do and think. Now he's into with Gasparino telling him he can't report on Bears pending indictments. What, is he the new GM of CNBS? We don't respect CNBS here, but the do *pretend* to be journalist. This is looking really bad for them. Maybe some of the media watch sites will pick it up.
What would CNBS do without the best BSer of all time?
CNBS babble babe just said the Nasdaq is now down 20% and "officially in a bear market"
CNBS programming is an infomercial, or even infotainment. It certainly isn't journalism. It's more in the genre of a shopping channel. Cramer is their head carnival barker.
QUOTE(K Wave Rider @ Feb 7 2008, 08:57 AM)
Uncle Buck...the setup was so there...
Agreed.
From last weekend's Dollar Index update in the Wall Street Examiner Professional Edition.
QUOTE
A double bottom 10 weeks apart with a range of cycle indicators at higher levels could be signaling a major bottom. The drop of the past week came within a few cents of the 13 week cycle projection but indicators for the cycle are not yet confirming a low. If the dollar begins to move up from here over the next few days, 13 week, 10-12 month and 18 month cycle indicators should go to the buy side. That makes the week ahead extremely important to the longer term outlook.
Once a week, WSE Pro subscribers to the Money, Liquidity and Real Estate service get an update on the US dollar index and Bond Yields, telling them what to look for in the weeks ahead. Keep up to date. Subscribe to the Professional Edition! Click the link below to get in RIGHT NOW!
QUOTE(DrStool @ Feb 7 2008, 09:08 AM)
CNBS programming is an infomercial, or even infotainment. It certainly isn't journalism. It's more in the genre of a shopping channel. Cramer is their head carnival barker.
words for eternity. Post of the month, or year, or even decade! Simply a classic!
J Fed Accepts $7 Bln In 14-Day RPs
Type of transaction: 14-Day RPs
Total accepted: $7 Bln
Total submitted: $64.2 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $18.25 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3%
Low-rate submitted: 2.75%
Treasury Collateral Operation
Total accepted: $7 Bln
Total submitted: $20.15 Bln
Stop-Out Rate: 2.35%
Weighted Average: 2.4%
High-rate submitted: 2.5%
Low-rate submitted: 2.1%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $25.8 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3.08%
Low-rate submitted: 2.85%
(Data was provided by the New York Federal Reserve Bank).
Type of transaction: 14-Day RPs
Total accepted: $7 Bln
Total submitted: $64.2 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $18.25 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3%
Low-rate submitted: 2.75%
Treasury Collateral Operation
Total accepted: $7 Bln
Total submitted: $20.15 Bln
Stop-Out Rate: 2.35%
Weighted Average: 2.4%
High-rate submitted: 2.5%
Low-rate submitted: 2.1%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $25.8 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3.08%
Low-rate submitted: 2.85%
(Data was provided by the New York Federal Reserve Bank).
5 hr cycle indicators are trying to edge to the buy side. They better turn it here, or else.
QUOTE(DrStool @ Feb 7 2008, 09:19 AM)
5 hr cycle indicators are trying to edge to the buy side. They better turn it here, or else.
Closed March SPX puts near the finish line yesterday. If this is the BIG ONE, I guess I'll miss it. I felt the SocGen opening downer would have been it, but when it got bought up like it did, I figured someone knew something.
Today, the fear is that nobody knows anything. The Fed, Treasury, BoE, Cramer ... whoever.
A Crisis of Confidence is the best meltdown set up there is.
Still, I think we get a rescue here. Maybe not till noon, though.
C'est la vie...C'est le mort.
QUOTE(potatohead @ Feb 7 2008, 09:16 AM)
J Fed Accepts $7 Bln In 14-Day RPs
Type of transaction: 14-Day RPs
Total accepted: $7 Bln
Total submitted: $64.2 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $18.25 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3%
Low-rate submitted: 2.75%
Treasury Collateral Operation
Total accepted: $7 Bln
Total submitted: $20.15 Bln
Stop-Out Rate: 2.35%
Weighted Average: 2.4%
High-rate submitted: 2.5%
Low-rate submitted: 2.1%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $25.8 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3.08%
Low-rate submitted: 2.85%
(Data was provided by the New York Federal Reserve Bank).
Type of transaction: 14-Day RPs
Total accepted: $7 Bln
Total submitted: $64.2 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $18.25 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3%
Low-rate submitted: 2.75%
Treasury Collateral Operation
Total accepted: $7 Bln
Total submitted: $20.15 Bln
Stop-Out Rate: 2.35%
Weighted Average: 2.4%
High-rate submitted: 2.5%
Low-rate submitted: 2.1%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $25.8 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3.08%
Low-rate submitted: 2.85%
(Data was provided by the New York Federal Reserve Bank).
More evidence of what I reported yesterday. The Fed has surreptitiously cut the Fed Funds target again because the market simply cannot sustain a rate of 3% without the Fed draining massive amounts of liquidity, something I'm sure that they do not want to continue to do. I will post more detail and analysis on this in today's Wall Street Examiner Professional Edition and we will also discuss it in a Radio Free Wall Street podcast that is scheduled for today (if my panelist shows up.
)
DAX did hit its 62 fibo of the recent "rally". Either it goes up strongly now or we see the lows again.
OK, they are bouncing hard now. 5 hr cycle indicators have gone to the buy side from positive divergences. Looking for the 3 day cycle indicators to possibly turn up as well. We'll see.
DAX daily
is this a SHS or what!?!?!!!
[attachmentid=95467]
is this a SHS or what!?!?!!!
[attachmentid=95467]
qqqq has zoomed through the 3 day cycle MA at 42.47. If they stay above, then we should get at least a sideways up phase for the remainder of the day. If they fail to hold, Katy bar the door.
dow and spx have held at shport lines. 5 hr cycle indicators are in positive divergences but there are no buy signals yet.
dow and spx have held at shport lines. 5 hr cycle indicators are in positive divergences but there are no buy signals yet.
QUOTE(roxy @ Feb 6 2008, 11:51 PM)
What exactly are they using for waterboarding? Can I dong that stuff?
I've made good money on Vaseline back when Bush was elected
I've made good money on Vaseline back when Bush was elected
Bucky busts through his downtrend from Aug. high. He did it a few weeks back only to close on the TL. Needs to hold 76.4 ish to keep above it.
qqqq 5 hr cycle projection of 42.65-.75 was reached.
but never touch the pigmen.................
DJ SEC, California Attorney Settle Stock Pump-And-Dump Charges
DOW JONES NEWSWIRES
A California attorney has agreed to stop violating Securities and Exchange
Commission rules in a settlement of charges alleging that he participated in
a multi-million dollar fraud scheme by issuing bogus legal opinion letters,
according to an SEC release Thursday.
Without admitting or denying the allegations, attorney Kenneth M. Christison
of Mill Valley, Calif., agreed to stop violating SEC rules.
The bogus legal opinion letters were used by fraudsters in "spam-fueled
pump-and-dump schemes," the SEC said.
"Today's action demonstrates that even after we stop those who profit from
fraudulent schemes, we continue to pursue other individuals, especially
attorneys and other gatekeepers who are enablers behind the scenes," Linda
Chatman Thomsen, Director of the SEC's Division of Enforcement, said in the
release.
DJ SEC, California Attorney Settle Stock Pump-And-Dump Charges
DOW JONES NEWSWIRES
A California attorney has agreed to stop violating Securities and Exchange
Commission rules in a settlement of charges alleging that he participated in
a multi-million dollar fraud scheme by issuing bogus legal opinion letters,
according to an SEC release Thursday.
Without admitting or denying the allegations, attorney Kenneth M. Christison
of Mill Valley, Calif., agreed to stop violating SEC rules.
The bogus legal opinion letters were used by fraudsters in "spam-fueled
pump-and-dump schemes," the SEC said.
"Today's action demonstrates that even after we stop those who profit from
fraudulent schemes, we continue to pursue other individuals, especially
attorneys and other gatekeepers who are enablers behind the scenes," Linda
Chatman Thomsen, Director of the SEC's Division of Enforcement, said in the
release.
DJ Fed Accepts $4.25 Bln In Overnight RPs
Type of transaction: Overnight RPs
Total accepted: $4.25 Bln
Total submitted: $41.7 Bln
Agency Collateral Operation
Total accepted: $1.794 Bln
Total submitted: $24.2 Bln
Stop-Out Rate: 3.03%
Weighted Average: 3.03%
High-rate submitted: 3.03%
Low-rate submitted: 2.85%
Treasury Collateral Operation
Total accepted: $2.456 Bln
Total submitted: $10.3 Bln
Stop-Out Rate: 2.46%
Weighted Average: 2.48%
High-rate submitted: 2.48%
Low-rate submitted: 2.25%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $7.2 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3.06%
Low-rate submitted: 2.98%
(Data was provided by the New York Federal Reserve Bank).
Hate trading the first half hour. Gotta go to work soon, and that mean no internet access for a whole hour. That's like forever on this tightrope.
Deep breath.. Aouuuummmmmm
Deep breath.. Aouuuummmmmm
spx 5 day cycle projection looks 1316.
dow 5 day cycle projection looks 12,050.
These projections would be contingent on breaking shport at 1320
These projections would be contingent on breaking shport at 1320
Froom Gloomberg:
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO DECOUPLING THEORY
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO WSE PRO, REGRETS IT, MAYBE NOT TOO LATE
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO DECOUPLING THEORY
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO WSE PRO, REGRETS IT, MAYBE NOT TOO LATE
QUOTE(potatohead @ Feb 7 2008, 09:42 AM)
but never touch the pigmen.................
DJ SEC, California Attorney Settle Stock Pump-And-Dump Charges
DOW JONES NEWSWIRES
A California attorney has agreed to stop violating Securities and Exchange
Commission rules in a settlement of charges alleging that he participated in
a multi-million dollar fraud scheme by issuing bogus legal opinion letters,
according to an SEC release Thursday.
Without admitting or denying the allegations, attorney Kenneth M. Christison
of Mill Valley, Calif., agreed to stop violating SEC rules.
The bogus legal opinion letters were used by fraudsters in "spam-fueled
pump-and-dump schemes," the SEC said.
"Today's action demonstrates that even after we stop those who profit from
fraudulent schemes, we continue to pursue other individuals, especially
attorneys and other gatekeepers who are enablers behind the scenes," Linda
Chatman Thomsen, Director of the SEC's Division of Enforcement, said in the
release.
DJ SEC, California Attorney Settle Stock Pump-And-Dump Charges
DOW JONES NEWSWIRES
A California attorney has agreed to stop violating Securities and Exchange
Commission rules in a settlement of charges alleging that he participated in
a multi-million dollar fraud scheme by issuing bogus legal opinion letters,
according to an SEC release Thursday.
Without admitting or denying the allegations, attorney Kenneth M. Christison
of Mill Valley, Calif., agreed to stop violating SEC rules.
The bogus legal opinion letters were used by fraudsters in "spam-fueled
pump-and-dump schemes," the SEC said.
"Today's action demonstrates that even after we stop those who profit from
fraudulent schemes, we continue to pursue other individuals, especially
attorneys and other gatekeepers who are enablers behind the scenes," Linda
Chatman Thomsen, Director of the SEC's Division of Enforcement, said in the
release.
like in: "Will you stop violating SEC rules?", "Hmm.... ok"
Anyone follow PAL?
What's the story with this guy? Trading like a collapse in commodity prices.
What's the story with this guy? Trading like a collapse in commodity prices.
Same thing with TIE..
QUOTE(Sudaca @ Feb 7 2008, 09:47 AM)
Froom Gloomberg:
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO DECOUPLING THEORY
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO WSE PRO, REGRETS IT, MAYBE NOT TOO LATE
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO DECOUPLING THEORY
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO WSE PRO, REGRETS IT, MAYBE NOT TOO LATE
Somebody should write Linda a letter and ask her what about the pump and dumpers on Wall Street itself. Those CDOs weren't fraudulent pump and dumps. How about all the selling by homebuilder and mortgage bank execs at the top of the market. That wasn't pump and dump?
qqqq now 2 cents below the 3 day cycle MA. They gotta hold it here, or the floodgates will open.
QUOTE(Sudaca @ Feb 7 2008, 09:47 AM)
Froom Gloomberg:
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO DECOUPLING THEORY
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO WSE PRO, REGRETS IT, MAYBE NOT TOO LATE
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO DECOUPLING THEORY
(BN) *TRICHET SAYS NEVER SUBSCRIBED TO WSE PRO, REGRETS IT, MAYBE NOT TOO LATE
*DJ Commercial Paper Outstanding Falls $8.6B On Week
*DJ Asset-Backed CP Outstanding Falls $9.9B Week To Wednesday
*DJ Total Outstanding CP At $1.848 Trillion As Of Wednesday
QUOTE(DrStool @ Feb 7 2008, 09:31 AM)
More evidence of what I reported yesterday. The Fed has surreptitiously cut the Fed Funds target again because the market simply cannot sustain a rate of 3% without the Fed draining massive amounts of liquidity, something I'm sure that they do not want to continue to do. I will post more detail and analysis on this in today's Wall Street Examiner Professional Edition and we will also discuss it in a Radio Free Wall Street podcast that is scheduled for today (if my panelist shows up. )
)Doc, is it theoretically possible to have a negative stop out rate?
spx 1 day cycle projection of 1320 is reached. Time wise cycle low would be due now as well. Came within a couple points of the 5 day cycle projection also.
If this does not hold, then we are in a new 3 day cycle down phase with a contingent projection of approximately 1305.
Dow 1 day cycle projection 12140. If this does not hold here, then we'd be looking at a contingent 3 day cycle projection around 12,000.
The cavalry has arrived.
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