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Hiding Bear

B4 The Bell October 20

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:D Welcome to B4 the Bell! :D

 

The credit bubble gets one more push from the latest mortgage figures. By like a bell ringing loudly at noon, mortgage growth is still making some noise but will soon go away. I think the latest investigations into GSEs will restrict new mortgages very soon.

 

Mortgage Applications Climb Last Week

October 20, 2004 07:00:00 AM ET

 

NEW YORK (Reuters) - New applications for U.S. home loans climbed last week, as most mortgage rates fell from the previous week, an industry group said on Wednesday.

 

The Mortgage Bankers Association said its seasonally adjusted market index, a measure of mortgage activity, rose 7.90 percent to 709.9 for the week ended on Oct. 15 from the previous week's 658.2.

 

Thirty-year mortgage rates, excluding fees, averaged 5.64 percent, down 0.05 percentage point from the previous week and 0.33 percentage point lower than a year ago, the Washington trade group said.

 

The MBA's seasonally adjusted index on new refinancing applications jumped by 10.6 percent to 2,155.2 for last week from the previous week's 1,949.2.

 

The association's purchase index, a gauge of new loan requests for home purchases, increased by 5.8 percent last week to 461.4 from 436.3 in the prior week.

 

http://news.moneycentral.msn.com/breaking/...1020&ID=4039135

 

Not a ship to spare:

 

With about $100 million worth of crude oil in its hold, the tanker Front Page will leave Kuwait soon, heading for Louisiana via the Suez Canal. When it arrives 30 days later, its two million barrels will feed refineries throughout the Midwest with crude they will turn into heating oil for the winter.

 

The trip will be an expensive one. Exxon Mobil is paying Frontline, the ship's Norwegian owner, $6.95 million to make the journey. Last year, the shipping company charged $2.4 million for a similar haul.

 

With global oil demand surging and prices hitting record levels, the world's 1,500 oil tankers are all booked up, and their owners are charging hefty premiums. The shortage of tankers is one sign of how strong demand and a lack of investment have left the oil industry's infrastructure stretched thin - meaning that any hint of disruption in the system can help make prices spike.

 

http://www.nytimes.com/2004/10/20/business...&pagewanted=all

 

globex.png

nasdaq.png

 

Good trading! ;)

post-20-1098271217.jpg

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Gold, silver and Earl are rockin'.

 

Dollah index has thudded sickeningly to below 86.50.

 

Today is gonna be historic, I can just feel it in my bones.

 

Death to the dollah! :lol:

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Gold, silver and Earl are rockin'.

 

Dollah index has thudded sickeningly to below 86.50.

 

Today is gonna be historic, I can just feel it in my bones.

 

Death to the dollah! :lol:

Foreign central banks bought US$s at a mad pace in August, but in the last few weeks have been almost absent. Repeated warnings from the IMF and even Fed members that the dollar is going down appeared to have gotten through.

post-20-1098271471.jpg

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Iraqi pipeline to Turkey set ablaze by saboteurs

AFP: 10/19/2004

 

KIRKUK, Iraq, Oct 19 (AFP) - Saboteurs struck Iraq's oil industry twice on Tuesday, blowing up a portion of an oil pipeline linking northern oil fields to Turkey and a pipeline near a major refinery, the head of the Northern Oil Company (NOC) told AFP.

 

The bomb attack, 140 kilometres (87 miles) south of Kirkuk, slashed the northern fields exports from 450,000 to 150,000 barrels per day (bpd) as the company switched to a smaller pipeline, the NOC director Adel al-Gazzaz told AFP.

 

http://www.turkishpress.com/turkishpress/news.asp?ID=31139

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Two Steps Forward

 

One Step Back

 

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Gold over $425!

 

The dollah is plunging ... cuz with Mad Al a lame duck short-timer, nobody's in charge at the Funeral Reserve.

 

June Cleaver (in shocking goth make-up and long black fingernails, her face a hideous mask of Miltown and martini abuse):

 

"Ward ... I'm worried about the DAMNED DOLLAH !!!" she screeches, as Wally and the Beav cower in terror beneath the lower bunk bed ... :o

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Also have Masonite (MHM) and Mohawk Industries (MHK) on deck..a couple of big suppliers to the homebubblers..they should give some clues at this juncture..

 

Ryland Homes also reports after the close..

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Paul Krugman, citing many of the points made here in B4 last weekend (is he a lurker?):

 

Bush's claims that the United States doesn't need any expansion in its military are patently unrealistic; they ignore the severe stress the army is already under.

.

And the experience in Iraq shows that pursuing his broader foreign policy doctrine - the "Bush doctrine" of pre-emptive war - would require much larger military forces than are available now.

.

This leads to the justified suspicion that after the election, Bush will seek a large expansion in the military, quite possibly through a return of the draft.

.

Bush's assurances that this won't happen are based on a denial of reality.

 

Depublicrat lies

 

Krugman, being the relentless partisan he is, focuses all his ire on Bush. The identical argument applies to Kerry, the "other Bonesman."

 

Grow up, Paul. The Democratic playpen is too small for you.

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yobob was the guy who really got the ball rolling on this message board. One day he showed up and just started posting. Then Yobob begat machinehead, machinehead begat BAREister (or was it the other way around? :lol:), then wndysrf showed up, and the rest is history. Without yobob, this place would not be what it is.

 

I sure hope he returns, and soon!

 

Yobob1, WE LOVE YOU, MAN!

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yobob was the guy who really got the ball rolling on this message board. One day he showed up and just started posting. Then Yobob begat machinehead, machinehead begat BAREister (or was it the other way around? :lol:), then wndysrf showed up, and the rest is history. Without yobob, this place would not be what it is.

 

I sure hope he returns, and soon!

 

Yobob1, WE LOVE YOU, MAN!

Hope he returns. ;)

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Yobob1, WE LOVE YOU, MAN!

Ditto. Prolly just one of those male menopause hot flashes ...

 

We'll give him a week's 'time out' ... then start the telephone campaign ... ;)

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