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IDS World Markets Tues 20th November 07

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Oz following the US action. All Ords -1.9% with heavy losses across all sectors. Materials leading the pack, -3.2% and Energy's next at -2.1%. Consumer Discretionary is down the least, -1%.


Big miners taking a beating: BHP -3.8% and RIO -3.7%. In the golds, Newcrest -3.7%, Newmont -2.1% and Lihir -1.8%. Some selling in the juniors although many are yet to show a trade.


Relatively small losses in the oils: Woodside -1.3%, Santos -1.5% and Caltex -2.4%.

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All Ords managed to drag itself off the intraday lows but the result was still a dismal -1.7%. Sector positions barely changed from the morning post. Materials remained down the most, -3.1% and Energy and IT both came in at -2.4%. Consumer Discretionary had the least loss, -0.8%.


Miners not a pretty sight: BHP -3.1%, RIO -3% and in the golds, Newcrest -3.9%, Newmont -3.2% and Lihir -3.4%. Most the juniors lost ground.


Oils sank a little more: Woodside -1.4%, Santos -2.2% and Caltex -2.7%.


Some Asian markets recovered although Honkers -2.8% at this stage, Sth Korea -1% and Nikkers -0.4%.



Solid losses in UK/Europe last session, especially on the Footsie. Let's see what they come up with today:









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time fer the "surprise" <_< Fed goose


free, fair, honest and orderly markets Shall Not be allowed


Ben wants to be popular, a "Great Man", like Greenspan <_<

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Class warfare is going on full scale at US financial media centers as Wall Street attempts to shift the blame on sub prime mess on low income borrowers.


"The losses at banks and securities firms are fueling concern that rising delinquencies on home loans to people with poor credit will drag down the economy. The slump in global credit markets may force banks, brokerages and hedge funds to cut lending by $2 trillion, Goldman Sachs economists said last week," cites news source at Bloomberg.


The problem with sub prime is not related to FICO scores of sub prime borrower's, but, to overpriced real estate that they knowingly sold to those that could not afford it in order to continue the shell game.


The Bloomberg article also states that poor people are dragging the economy down( in addition to being blamed for sub prime.) :lol:


The naivety of this transcendences common sense, never mind that it is being reported in other media that rich folks who were supposed to save this economy by trickle down handouts are curtailing their spending.



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U.K. October BSA Mortgage Approvals Fall Annual 14%


Nov. 20 (Bloomberg) -- British customer-owned lenders approved fewer loans for house purchases in October as tighter borrowing markets sapped demand, a report by the Building Societies Association showed.


Mortgage approvals last month fell 14 percent from a year earlier, to 4 billion pounds ($8.2 billion), the London-based BSA, which represents 59 building societies in the U.K., said today in a statement.


The Council for Mortgage Lenders, which represents the country's home-loan providers, also predicted today that mortgage lending will slow. Its own data showed a 6 percent increase in gross mortgage lending on the month and from a year earlier, which didn't yet reflect the squeeze that banks now face in getting funding for loans, the group said.


Shares of Paragon Group Cos., a U.K. mortgage lender that depends on bond sales to fund loans to landlords, had their biggest-ever decline today in London after the company said full-year profit fell more than anal cysts' estimates and that it planned a rights offer.

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Local business news here in Oz suggesting that 100 point free fall on the Footsie starting right after the open was a hedge fund supernova/blackhole forced sale explosion/implosion.


If so, coast is clear for the bulls. Look out above.

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Hang Ten- 1450 point bounce off the bottom today.








Is Fan Gang now more powerful than Helicopter Ben?

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run to fooood stocks ?? people need to eat.


ConAgra Confirms 2009 and 2010 Targets

Monday November 19, 9:05 am ET

ConAgra to Reaffirm 2009 and 2010 Growth-Rate Targets at Investor Meetings



NEW YORK (AP) -- ConAgra Foods Inc. plans to reiterate its earnings forecast for 2009 and 2010 when it meets with institutional investors this week, the company said in a regulatory filing Monday.

ConAgra still expects per share earnings to grow between 8 percent and 10 percent in both fiscal 2009 and 2010. The company said senior management will be meeting with institutional investors Monday through Wednesday as part of normal business.



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