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aussiebear

IDS World Markets Wed 28th November 07

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Dow up 340 pts, Naz up 3%, BKX up 5%...?? :o

 

... and here I am holding the only red thing on my screen.. CFC calls are down for the day.?? :lol:

 

That is absolutely hilarious.? Any other year it would be pretty depressing.

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Countrywide says it's not in trouble

 

Countrywide Financial Corp. moved to reassure investors Tuesday that it wasn't borrowing too much and wouldn't be constrained in its ability to provide home loans.

 

"We said it back in August, we said it in September, we said it last week, we'll say it until we turn blue in the face, but we have ample liquidity to fund our growth and operational needs," David Bigelow, Countrywide's managing director of investor relations, said at an FBR Capital Markets conference in New York.

 

Countrywide shares rose 33 cents, or 3.8%, to $8.97, marking only the second gain in two weeks for the stock. The shares are down 79% this year.

 

Bigelow rejected criticism that Calabasas-based Countrywide had threatened the soundness of the Federal Home Loan Bank system by borrowing excessively. He also said Countrywide didn't expect issues affecting Freddie Mac and Fannie Mae to materially hurt its ability to make home loans.

LATimes

 

Personally, I think blue might be an improvement on orange.

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"He also said Countrywide didn't expect issues affecting Freddie Mac and Fannie Mae to materially hurt its ability to make home loans."

 

How could it hurt its ability to make home loans? It already doesn't HAVE any ability to make loans.

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Dow up 362, CFC down.12 below 9.00 :D

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closing in on the 3 day cycle projections.

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Nice gap on the NDX 100...wonder when we'll be coming back down to close that thing????? :unsure:

 

post-1110-1196281547.jpg

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Nice gap on the NDX 100...wonder when we'll be coming back down to close that thing?????  :unsure:

 

post-1110-1196281547.jpg

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Whenever these guys break up.

post-837-1196281708.jpg

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No one has commented on big oil being up so much.

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I think good chance 100 may not be seen...looks like failure just short

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Sorry, what I meant was XOM, BP, etc. are up

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dow 3 day cycle indicators just edged to sell side. spx on the cusp.

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No one has commented on big oil being up so much.

628688[/snapback]

 

I think good chance 100 may not be seen...looks like failure just short

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Sorry, what I meant was XOM, BP, etc. are up

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What's xom's monthly nut now with oil so high, 35-40 B per I think. Rolling in it. Think I'll go on down the Veteran Soup Kitchen today for lunch. I know XOM needs my money more than me, but some days it's hard. :( :lol: :lol:

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Today seems similar to October of 2001. The DOW went up over 300 points weeks after the terrorists attacks. I can remember all the Mr. and Ms. J6Ps going "yay". Only to see the bottom fall out of the market as time went along.

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What I find amazing is how the 3-month dollar LIBOR rate continued higher even today, which is now at its highest spread vs. Fed Funds since they first cut rates back in Sep.

 

What that means is that all the Fed "injections", "rate cuts" and "jawboning" are simply not working.

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