DrStool Posted October 9, 2008 Report Share Posted October 9, 2008 Precious Metals http://wallstreetexaminer.com/?p=3239 Link to comment Share on other sites More sharing options...
Sudaca Posted October 9, 2008 Report Share Posted October 9, 2008 Looks like EWZ might go our way today Madness & Suds. Have you got a target on it Suds? Took profits on HTE, CHK yesterday but still got some OIH calls. 697767[/snapback] My EWZ target is $50-ish.. the downtrend line. Eventually, I think it will go higher, but for a trade, at the moment I'll stick to short term targets. Currency is already gaining 6% this morning, which is the biggest move since August 2002 Link to comment Share on other sites More sharing options...
DrStool Posted October 9, 2008 Report Share Posted October 9, 2008 Wasn't this market suppose to be frozen and no one want these things?? To get 98% is quite shocking. 697764[/snapback] Huh? I seem to recall that these companies have been nationalized. They are owned by the US Government. Under the circumstances, isn't it more shocking that they didn't come in at 99.9? Like I said, I don't understand the concept of this stuff, but it seems to me that the market no longer expects government backing to mean 100% safety. But, it's just a price. Prices only mean what a buyer is willing to pay and a seller is willing to sell at, at a given point in time. I try not to attribute any intelligence to that since the players are just guessing anyway, and their guess is no better, maybe a lot worse, than yours and mine. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 9, 2008 Report Share Posted October 9, 2008 Looks like EWZ might go our way today Madness & Suds. Have you got a target on it Suds? Took profits on HTE, CHK yesterday but still got some OIH calls. 697767[/snapback] I'm thinking of at least filling that gap in the coming weeks. Again, have your stops. Link to comment Share on other sites More sharing options...
Sudaca Posted October 9, 2008 Report Share Posted October 9, 2008 Stock futures up. Credit crap (still) down. Link to comment Share on other sites More sharing options...
Rounder Posted October 9, 2008 Report Share Posted October 9, 2008 Wachovia talks snag over division of its assets - WSJ (5.06 ) : The Wall Street Journal reports talks between Citigroup ©, Wells Fargo (WFC) and the U.S. government over a way to divide Wachovia (WB) between its two suitors were hung up on several key issues Wednesday, according to people familiar with the situation. The discussions, which began Sunday, have been snagged over the intricacies of carving up Wachovia, ranging from deposits to loans to securities. After burrowing deeper into Wachovia's books, Citigroup and Wells Fargo have been surprised by the concentration of assets they regard as low-quality, these people said. As a result, both banks are worried that buying even part of Wachovia could saddle them with steeper losses than previously expected. The two would-be buyers also have been sparring over the computer system used in Wachovia's 3,348 retail branches, one person familiar with the discussions said Wednesday. Citigroup, known for its hodgepodge of technology that hasn't been fully integrated, wants full control of Wachovia's system when the deal closes. Wells Fargo has countered that the two banks should share it temporarily. People close to the discussions said they remain hopeful that a deal can be reached. Shocking... maybe WFC should have done a deeper dive before bidding 7 bucks a share.... Link to comment Share on other sites More sharing options...
FauxCaster Posted October 9, 2008 Report Share Posted October 9, 2008 A lot of folks in the blogosphere seem to be confusing CDS and MBS lately. Link to comment Share on other sites More sharing options...
TURK Posted October 9, 2008 Report Share Posted October 9, 2008 Doc, just studying your reports WRT US doolars, your take is the the US is/will be debasing the USD. When that occurs (already starting IMO) then prices go up...especially WRT imported goods. Also you make the point that when the rest of the world realizes that we will never be able to pay our debt then the USD tanks even faster. This leads me to the conclusion that (depending on the rate of printing of USD's) that we may/probably have hyperinflation. I know my timeframe is much longer that most on this board but I really want to understand the implications of the above. Can you express your opinion on this? Tanks Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 9, 2008 Report Share Posted October 9, 2008 Gold back down to the make or break line.... 1025 now the pivot on ES...we could still see one last washout if they cant take out 1025 on any opening pop.... The surgical tubing is pullled way back here...once it is finally released, this market should have an upside move that should be awesome and unbelievable.....am looking for one of the biggest up days in history once the downtrend is broken... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 9, 2008 Report Share Posted October 9, 2008 Energy trust all up across the board. Let's see if this sticks! Link to comment Share on other sites More sharing options...
Sudaca Posted October 9, 2008 Report Share Posted October 9, 2008 AAII Sentiment show 60.84% Bears... highest reading since Oct 1990. Link to comment Share on other sites More sharing options...
DrStool Posted October 9, 2008 Report Share Posted October 9, 2008 The overnight rally puts the market squarely in the middle of yesterday's range. Noise. Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 9, 2008 Report Share Posted October 9, 2008 EWZ ILF trading above yesterday's high.... Link to comment Share on other sites More sharing options...
FauxCaster Posted October 9, 2008 Report Share Posted October 9, 2008 AAII Sentiment show 60.84% Bears... highest reading since Oct 1990. 697779[/snapback] The only old-skool indicator not screaming buy is the volume. Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 9, 2008 Report Share Posted October 9, 2008 Below ES 995 and final wash could begin.... Link to comment Share on other sites More sharing options...
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