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IDS World Markets Fri 19th October 07

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A slide so far. All Ords -1% with IT down the most, -1.6% and Financials next at -1.4%. Healthcare is the only green at a paltry +0.1%.


The big miners in a selloff: BHP -1.4% and RIO -2.2%. The golds are another story, all up around 1%.


Oils are mixed: Woodside -0.8%, Santos +2.7% and Caltex -0.5%.

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A bit of gloom and doom around today so it looks like a possible consolidation coming up in the short term. All Ords closed -0.9% with all sectors red. IT remained the most bearish, -2.4% followed by Utilities -1.5% and Financials -1.2%. Consumer Staples had the least loss, -0.1%.


Money was taken off the table in the big miners: BHP -1.3% and RIO -2.9%. It was a different story on the golds: Newcrest zoomed up 4.9%, Newmont +0.6% and Lihir +1%.


Oils remained mixed: Woodside -1%, Santos +2.1% and Caltex -0.4%.


A few greens in Asia but mostly da bearz driving: India -2%, Singers -1.9%, Sth Korea -1.8% and Nikkers -1.7%.


On to UK/Europe:









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Rhinebridge Commercial Paper SIV May Not Repay Debt (Update1)

By Neil Unmack


Oct. 18 (Bloomberg) -- Rhinebridge Plc, the IKB Deutsche Industriebank AG structured investment vehicle that has lost about half its value, is unlikely to repay all its debt.


Rhinebridge suffered a ``mandatory acceleration event'' after IKB's asset management arm determined the SIV may be unable to pay back debt coming due, the Dublin-based fund said in a Regulatory News Service release. Rhinebridge had $1.2 billion in commercial paper outstanding as of Oct. 5, according to Fitch Ratings...



- - - - - - -

Another stoolie may have already posted the article above.


If so, I apologize.


This is the second SIV (and an even larger one at that) to blow-up in recent days...


When other institutional and wealthy investors read of these unlucky souls LOSING BIG MONEY in the above story, it must fill them with terror for the safety of their own invested funds.


Here is the catalyst which may shake the entirety of the capital markets, and set off another round of panic.


This may explain the flight of capital into Treasuries.


Heads up, for the sh*t may soon be about to hit the fan.

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Sorry, the above link is bogus.

Hopefully this one will work.





'cuse me. I'll get this right sooner or later... :angry:


I can't get the URL to transfer correctly. Sorry. :(


Interested Stoolies can search for the full article via Google.

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I pass by several gas stations on my way home each day. Tonight I noted that the price of gas in San Jose has risen 5% since Monday. Price for a gallon of unleaded is now $3.20


I don't remember the price of gas ever rising like this going into wintertime.


Very worrisome.

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Good Morning!


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Just a reminder that David's (LeeWhee) memorial service will be held Sunday, October 21, at 3:00 at Temple Emanu-El, 2 Lake Street, at Arguello, in San Francisco.


An obit and guestbook for your condolences are available.


I loved the reminiscence of the fellow who used to work for David. He was apparently even more fun in person than he was here. Athlete and musician too. I'm not surprised.

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GOOG has hit a 3 day cycle projection of 662. Probably one more new high after this pullback, then say goodnight Irene.


But I still wouldn't short it.

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qqqq hit a 3 day cycle projection of 54.07.

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we have market bifukation here. the SPY is down but almost hit a 3 day cycle projection of 152.85 earlier.

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