http://finance.yahoo.com/intlindices
Full Version: IDS World Markets Wed 19th March 08
Stool Pigeons Wire Message Board > Stock Market Message Board > Intraday Stool- Stock Market Short Term Trading
I thought it would be a sell the news session in the US but there you go. All Ords following suit and bounding northwards, +2.9%. A-REIT is leading, +5%, Financials +4.8% and Consumer Staples +3.5%. Telecomms has the least rise, flat.
The big miners solidly up: BHP +2.5%, RIO +2.2%. Golds are going the other way, all down around 3%. Juniors mixed.
A big rise on the oils: Woodside +2.2%, Santos +3.2% and Caltex +4.2%.
Arthur Clarke has died at the age of 90. In addition to being the last giant from the golden age of science fiction (he wrote 2001), he came up with the idea of the communications satellite.
http://www.cnn.com/2008/SHOWBIZ/books/03/1...arke/index.html
http://www.cnn.com/2008/SHOWBIZ/books/03/1...arke/index.html
Looking fairly bullish on the 5-day chart. All Ords closed up a massive +3.6% vastly helped by an amazing bounce in the Financials sector, +7.1%. Next in line was IT +5.9% and A-REIT +5.6%. Consumer Discretionary rose the least, +0.9%.
The heavyweight miners did well, BHP +3.5% and RIO +2.6%. Golds did the dive: Newcrest -4%, Newmont +3.5% and Lihir -4.9%. Juniors remained mixed.
Oils producers zoomed: Woodside +2.5%, Santos +5% but refiner Caltex fell, -1.3%.
Asia mostly up but surprisingly muted on some bourses: China +3.9%, India +3.1%, Honkers +2.7%, Nikkers +1.6% and Taiwan +1.5%.
Over to UK/Europe:
http://finance.yahoo.com/intlindices?e=europe
Hong Kong Cuts Base Rate
March 19 (Bloomberg) -- The Hong Kong Monetary Authority cut its base rate to 3.75 percent, suggesting lenders in the city may reduce borrowing costs.
The de facto central bank followed the lead of the Federal Reserve, reducing its base rate by 75 basis points from 4.5 percent, Monetary Authority Chief Executive Joseph Yam told reporters today in Hong Kong.
March 19 (Bloomberg) -- The Hong Kong Monetary Authority cut its base rate to 3.75 percent, suggesting lenders in the city may reduce borrowing costs.
The de facto central bank followed the lead of the Federal Reserve, reducing its base rate by 75 basis points from 4.5 percent, Monetary Authority Chief Executive Joseph Yam told reporters today in Hong Kong.
U.K. Inflation Rate Rises to Highest in Nine Months
March 18 (Bloomberg) -- U.K. inflation accelerated to a nine-month high in February as gas and electricity prices rose, limiting the Bank of England's scope to cut interest rates.
Consumer prices climbed 2.5 percent from a year earlier, compared with 2.2 percent in January, the Office for National Statistics said today in London.
Inflation has now exceeded the 2 percent target for five months. Bank of England Governor Mervyn King said last month that consumer price-gains may accelerate further, and policy makers have said they face a dilemma as they seek to lower interest rates to shore up economic growth.
March 18 (Bloomberg) -- U.K. inflation accelerated to a nine-month high in February as gas and electricity prices rose, limiting the Bank of England's scope to cut interest rates.
Consumer prices climbed 2.5 percent from a year earlier, compared with 2.2 percent in January, the Office for National Statistics said today in London.
Inflation has now exceeded the 2 percent target for five months. Bank of England Governor Mervyn King said last month that consumer price-gains may accelerate further, and policy makers have said they face a dilemma as they seek to lower interest rates to shore up economic growth.
Before things get serious this morning, there was a late-night Haipu-fest at M2M.
For those not familiar with the great art form known as Haipu:
First: five syllables
Line 2, seven syllables
Finish up with five.
from Stevieo:
What if tomorrow
Doesn't exceed today's highs?
How low will we go?
I'm not sure I get
This meter known as haipu.
It's hard to dance to.
response from Drano
Good one, Ste-vie-o,
But dancing is not the goal
On a STOOL website ! ! ! !
response from Kiwibear
The Fed will save us
Rate cuts always do the trick
Cramer told me so
For those not familiar with the great art form known as Haipu:
First: five syllables
Line 2, seven syllables
Finish up with five.
from Stevieo:
What if tomorrow
Doesn't exceed today's highs?
How low will we go?
I'm not sure I get
This meter known as haipu.
It's hard to dance to.
response from Drano
Good one, Ste-vie-o,
But dancing is not the goal
On a STOOL website ! ! ! !
response from Kiwibear
The Fed will save us
Rate cuts always do the trick
Cramer told me so
Looks like UK and Europe developed a hangover after the party....gold heading up and USD going south...bear market resuming normal schedule?
U.K. February Unemployment Declines to Lowest Since 1975
March 19 (Bloomberg) -- U.K. unemployment fell for a 17th month to a three-decade low in February, driven by last year's economic expansion.
Claims for jobless benefits dropped 2,800 from January to 793,500, the lowest since June 1975, the Office for National Statistics said today in London. Economists expected a decline of 5,000, according to the median forecast in a Bloomberg News survey of 25 economists. The jobless rate stayed at 2.5 percent.
March 19 (Bloomberg) -- U.K. unemployment fell for a 17th month to a three-decade low in February, driven by last year's economic expansion.
Claims for jobless benefits dropped 2,800 from January to 793,500, the lowest since June 1975, the Office for National Statistics said today in London. Economists expected a decline of 5,000, according to the median forecast in a Bloomberg News survey of 25 economists. The jobless rate stayed at 2.5 percent.
Societe Generale Drops as BNP Paribas Says It Won't Seek Merger
March 19 (Bloomberg) -- Societe Generale SA, the French bank stung by a record 4.9 billion-euro ($.7.7 billion) trading loss, declined in Paris trading after larger rival BNP Paribas said it's no longer studying a ``potential tie-up.''
Societe Generale fell as much as 5.52 euros, or 8.2 percent, to 61.67 euros, the lowest since August 2004, and traded at 62.85 euros at 10:04 a.m. The stock has dropped 32 percent this year.
``The conditions, which would have allowed it to realize a shareholder value-creating merger, are not met,'' Paris-based BNP Paribas said in a statement today, ending speculation about a combination that would create Europe's second-largest bank.
Societe Generale has been the subject of takeover speculation since the bank said in January that trader Jerome Kerviel amassed 50 billion euros in positions in European futures indexes backed by fake hedges and false documents. Unwinding his bets resulted in the biggest trading loss in banking history.
March 19 (Bloomberg) -- Societe Generale SA, the French bank stung by a record 4.9 billion-euro ($.7.7 billion) trading loss, declined in Paris trading after larger rival BNP Paribas said it's no longer studying a ``potential tie-up.''
Societe Generale fell as much as 5.52 euros, or 8.2 percent, to 61.67 euros, the lowest since August 2004, and traded at 62.85 euros at 10:04 a.m. The stock has dropped 32 percent this year.
``The conditions, which would have allowed it to realize a shareholder value-creating merger, are not met,'' Paris-based BNP Paribas said in a statement today, ending speculation about a combination that would create Europe's second-largest bank.
Societe Generale has been the subject of takeover speculation since the bank said in January that trader Jerome Kerviel amassed 50 billion euros in positions in European futures indexes backed by fake hedges and false documents. Unwinding his bets resulted in the biggest trading loss in banking history.
DAX right now at the 50 fibo of yest low todays high (6168-6470)
A "double nine-to-one" signal was triggered Tuesday
What's the matter with dem girlybullz over in Yurp? Show Marty and Dave a little respect, durnit!
QUOTE
A single "Nine-To-One Up Day" occurs when this ratio is 90% or higher on a given day. According to Martin Zweig, who helped to develop this indicator several decades ago, such a huge imbalance of up volume over down volume "is a significant sign of positive momentum. In other words, when daily up volume leads down volume by a ratio of 9-to-1 or more, that tends to be an important signal for stocks." The quotation comes from Zweig's 1986 book, "Winning on Wall Street."
An even more bullish signal, according to Zweig, is when two "Nine to One Up Days" take place within a short period of time . . .
How bullish is a "Double Nine-to-One" signal? One answer is provided by David Aronson, an adjunct professor of finance at Baruch College. Professor Aronson is the author of a book titled, "Evidence-Based Technical Analysis" (Wiley, 2007), in which he discusses how to use the "scientific method and statistical inference" when judging investment strategies. Aronson, along with the students in a class he teaches at Baruch College, tested the statistical significance of "Double Nine-to-One" signals. Aronson told me that he and his "class used data from the beginning of 1942 through fall of 2006, and we looked at what happens in the stock market in the 60-trading-day period following a ... double Nine-to-One signal, versus what happens the rest of the time. In those 60-trading-day windows, the S&P 500 index produced an average annualized return of over 22%, on the assumption that an investor entered the market on the close the day after a double Nine-to-One signal was triggered and held until the end of the 60th trading day later." "In the non-signal periods," Aronson continued, "in contrast, the return averaged 4.5% annualized. The difference between these two average returns is statistically significant."
An even more bullish signal, according to Zweig, is when two "Nine to One Up Days" take place within a short period of time . . .
How bullish is a "Double Nine-to-One" signal? One answer is provided by David Aronson, an adjunct professor of finance at Baruch College. Professor Aronson is the author of a book titled, "Evidence-Based Technical Analysis" (Wiley, 2007), in which he discusses how to use the "scientific method and statistical inference" when judging investment strategies. Aronson, along with the students in a class he teaches at Baruch College, tested the statistical significance of "Double Nine-to-One" signals. Aronson told me that he and his "class used data from the beginning of 1942 through fall of 2006, and we looked at what happens in the stock market in the 60-trading-day period following a ... double Nine-to-One signal, versus what happens the rest of the time. In those 60-trading-day windows, the S&P 500 index produced an average annualized return of over 22%, on the assumption that an investor entered the market on the close the day after a double Nine-to-One signal was triggered and held until the end of the 60th trading day later." "In the non-signal periods," Aronson continued, "in contrast, the return averaged 4.5% annualized. The difference between these two average returns is statistically significant."
What's the matter with dem girlybullz over in Yurp? Show Marty and Dave a little respect, durnit!
DAX bounced hard off that 50 fibo, up 50 points now
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Gold getting clobbered again
QUOTE(fxfox @ Mar 19 2008, 08:26 AM)
Gold getting clobbered again
Gold is good to own.Accumulate on pulbacks.
Never, ever sell.
Zero! Two five four.
One month U S Treasury.
All you need to know.
Where are all the bears?
They must sucker in more shorts
Before a rally.
Fannie and Freddy
Need no stinking capital.
"We'll do anything."
Levered 10 to one,
Two trillion dollars in cash.
Now that's a bailout!
Have nothing to say.
To make it more interesting,
I'll talk in Haipu.
I have created a monster.
Drano the poet
Has created a monster
Who would have known it?
Has created a monster
Who would have known it?
Market roaring back from pre market selloff.
new highs on dia and spy.
dia 5 day cycle projection 124.80. spy 5 day cycle projection 134.50
Dow exploding, Gold imploding
QUOTE(fxfox @ Mar 19 2008, 01:16 PM)
Dow exploding, Gold imploding
Roast those shorts Boys...............
Does this convert $2,000,000,000,000 worth of mortgages into agency paper to offload to China and Saudi Arabia? Does this affect Wall Street or mostly Main Street banks? Either way, that's a lot of dough.
Morgan Stanley's net falls, but tops expectations.
Morgan Stanley's net
Falls but tops expectations.
Et tu, Marketwatch?
Morgan Stanley's net
Falls but tops expectations.
Et tu, Marketwatch?
U.K. shorts under attack:
LONDON (MarketWatch) -- The U.K. Financial Services Authority on Wednesday said it was probing trading in U.K. financial shares in recent days. "There has been a series of completely unfounded rumors about UK financial institutions in the London market over the last few days, sometimes accompanied by short-selling. We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them," said Sally Dewar, managing director, wholesale and institutional markets, in a statement.
No Bear Left Alive
LONDON (MarketWatch) -- The U.K. Financial Services Authority on Wednesday said it was probing trading in U.K. financial shares in recent days. "There has been a series of completely unfounded rumors about UK financial institutions in the London market over the last few days, sometimes accompanied by short-selling. We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them," said Sally Dewar, managing director, wholesale and institutional markets, in a statement.
No Bear Left Alive
Took a bite long
DJ Fed Accepts $7.25 Bln In Overnight Reverse RPs
Type of transaction: Overnight Reverse RPs
Total accepted: $7.25 Bln
Total submitted: $15.3 Bln
Treasury Collateral Operation
Total accepted: $7.25 Bln
Total submitted: $15.3 Bln
Stop-Out Rate: 1%
Weighted Average: 0.96%
High-rate submitted: 2.25%
Low-rate submitted: 0.65%
(Data was provided by the New York Federal Reserve Bank).
spx 3 day cycle projection 1345.
Dow 3 day cycle projection 12470
qqqq 5 day cycle projection 43.64.
Reverse repos? 
And I just went long. sigh!
And I just went long. sigh!
GOLD GETS KILLED[B]
Cover of Germany's Der Spiegel on Monday, March 17 2008:
[attachmentid=96807]
Cover of Germany's Der Spiegel on Monday, March 17 2008:
[attachmentid=96807]
Are they done liquidating Bear Stearns shorts yet? I'm guessing they were not long futures into last weekend.
Add that reverse repo on top of $9 billion in expirations and that's some serious pain. More detail and analysis coming up in the Wall Street Examiner Professional Edition Fed Report later today.
Mr. President, please say something really incredibly stupid so I can close this long positive.
Nothing's changed in Bucky's world, just resting near the lows with overnite selling by asians? and pops back to unch during the day. That hasn't kept the metals from being smacked down however.
*DJ Fed Sells Securities Outright In Coupon Pass
Little Jimmy Rogers on bloombox now bashing the Fed. Fun, fun. 
QUOTE(potatohead @ Mar 19 2008, 10:19 PM)
*DJ Fed Sells Securities Outright In Coupon Pass
Fed SELLS securities OUTRIGHT, on top of a REVERSE REPO and a huge expiry? Something is not quite kosher with yesterday's rally.
QUOTE(cbear @ Mar 19 2008, 09:24 AM)
Something is not quite kosher with yesterday's rally.
Ya think?
QUOTE(cbear @ Mar 19 2008, 09:24 AM)
Fed SELLS securities OUTRIGHT, on top of a REVERSE REPO and a huge expiry? Something is not quite kosher with yesterday's rally.
Look at TLT up $1.50.
All is well!
QUOTE(Drano @ Mar 19 2008, 09:27 AM)
Ya think?
Just donged some AUY and MFN on this nonsense selloff!
QUOTE(potatohead @ Mar 19 2008, 10:19 AM)
*DJ Fed Sells Securities Outright In Coupon Pass
I'm showing $15 billion bill sale, not a coupon pass. Adding in the reverse repos and the expirations and today should be one of the 3 largest drains in history.
QUOTE(cbear @ Mar 19 2008, 09:24 AM)
Fed SELLS securities OUTRIGHT, on top of a REVERSE REPO and a huge expiry? Something is not quite kosher with yesterday's rally.
It's like he wants to save the system without increasing moral hazard.
Potatohead,
Is there any indication of how much securities were sold outright by the FED? As we approach a long weekend, don't they usually ADD instead of draining huge?
EDIT: Answered by Doc's post.
So $15B bill sale after a $15B 28-day facility yesterday? Another of Ben's fine juggling act?
Is there any indication of how much securities were sold outright by the FED? As we approach a long weekend, don't they usually ADD instead of draining huge?
EDIT: Answered by Doc's post.
So $15B bill sale after a $15B 28-day facility yesterday? Another of Ben's fine juggling act?
Where's Mickey and that bar of soap?
[attachmentid=96811]
[attachmentid=96811]
$15 billion total. Like I said, all together, among the 3 biggest drains ever. One of the others was after the 9/11 pump.
QUOTE(Bungster @ Mar 19 2008, 09:39 AM)
Where's Mickey and that bar of soap?
[attachmentid=96811]
[attachmentid=96811]
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