Rounder Posted March 3, 2009 Report Share Posted March 3, 2009 Dow Jones reports GE Capital credit default swaps continue to deteriorate into levels usually seen for distressed companies. The CDS are quoted at 13.5 points up front, from 10.75 points up front yesterday, according to CMA DataVision. Meaning investors must pay $1.35M up front, plus a $500,000 annual fee, to protect $10M of GECC senior bonds for five years. Link to comment Share on other sites More sharing options...
twignberries Posted March 3, 2009 Report Share Posted March 3, 2009 Addtional Details from Reuters report from earlier... Reuters reports the U.S. Treasury Department and Federal Reserve are considering special Treasury financing and allowing the Fed to issue its own debt among ways to enable the central bank to manage its ballooning balance sheet, a source familiar with the deliberations said on Tuesday. The Fed and Treasury said in a statement earlier in the day that they would seek legislation to give the Fed additional tools it would need to control its balance sheet as it funds a program to support consumer lending that could generate up to $1 trillion in lending. Isn't the Fed issuing debt to itself essentially the same as buying Treasuries? Printing is printing isn't it? Link to comment Share on other sites More sharing options...
Pretzel Logic Posted March 3, 2009 Report Share Posted March 3, 2009 You guys are nothing but trouble, keeping me up all day and night. Tried to nap, but instead ended up taking a half-position short at 708... had intended to add more at 712/13... but that looks less possible now. 4th wave may be over unless they reverse higher asap... Link to comment Share on other sites More sharing options...
cwd Posted March 3, 2009 Report Share Posted March 3, 2009 Whatever happened to the mantra of "NEVER GO LONG IN A DOWNTREND"? Now bears are going long via 3X ETFs in strong downtrends! Only for great traders, not me. I keep learning that the hard way. Link to comment Share on other sites More sharing options...
swordfish Posted March 3, 2009 Report Share Posted March 3, 2009 Addtional Details from Reuters report from earlier... Reuters reports the U.S. Treasury Department and Federal Reserve are considering special Treasury financing and allowing the Fed to issue its own debt among ways to enable the central bank to manage its ballooning balance sheet, a source familiar with the deliberations said on Tuesday. The Fed and Treasury said in a statement earlier in the day that they would seek legislation to give the Fed additional tools it would need to control its balance sheet as it funds a program to support consumer lending that could generate up to $1 trillion in lending. thanks for sharing. This "last hour bullshit" didnt help indices. Link to comment Share on other sites More sharing options...
psyche doctor Posted March 3, 2009 Report Share Posted March 3, 2009 IBM starting to look like one more trip under 88 might finish the job now... I can't wait for big blue to feel some pain. Link to comment Share on other sites More sharing options...
BusKow Posted March 3, 2009 Report Share Posted March 3, 2009 OOOOHhhh - the 80min - pickin' and grinnin' Link to comment Share on other sites More sharing options...
twignberries Posted March 3, 2009 Report Share Posted March 3, 2009 Got myself 20 $2.50 calls on C for 6 pennies each as a lotto play. Link to comment Share on other sites More sharing options...
psyche doctor Posted March 3, 2009 Report Share Posted March 3, 2009 Got myself 20 $2.50 calls on C for 6 pennies each as a lotto play. Your commissions were more than the position Link to comment Share on other sites More sharing options...
K Wave Rider Posted March 3, 2009 Report Share Posted March 3, 2009 IBM 2:30 high holdin' so far...flirtin' with the abyss again.... Link to comment Share on other sites More sharing options...
Rounder Posted March 3, 2009 Report Share Posted March 3, 2009 If I am right on my fractal calculations, a breach of 88 on IBM would pretty much coincide with the steepest part of the decline getting under way... Down into close today would be best and then the A-Bomb drops tomorrow....and another, bigger one, the day after.... Being that it is below 88 now would make me think that is very bad... kind of like crossing the streams. Link to comment Share on other sites More sharing options...
MrHanky Posted March 3, 2009 Report Share Posted March 3, 2009 One after another "fund managers" keep talking about the value in the markets and how we can't go lower on CNBS.They all look like they are about to be hit by a mack truck and you can see the fear in their faces. One of them could barely talk because he was staring at the tape. Link to comment Share on other sites More sharing options...
swordfish Posted March 3, 2009 Report Share Posted March 3, 2009 Another well know bankrupt: Blockbuster Inc. Blockbuster Said to Hire Firm for Bankruptcy Advice http://www.bloomberg.com/apps/news?pid=206...refer=australia Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2009 Report Share Posted March 3, 2009 multiple shport lines at 698. If they don't hold, this thing could really let loose to the downside tomorrow. Link to comment Share on other sites More sharing options...
K Wave Rider Posted March 3, 2009 Report Share Posted March 3, 2009 Sweet backkiss on 5 min V after the hourly rollover....BIG pivot set .... Link to comment Share on other sites More sharing options...
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