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aussiebear

IDS World Markets Tues 3rd March 09

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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.

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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?

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You guys are nothing but trouble, keeping me up all day and night. :lol:

 

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...

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Whatever happened to the mantra of "NEVER GO LONG IN A DOWNTREND"? :rolleyes: Now bears are going long via 3X ETFs in strong downtrends! :lol:

 

 

Only for great traders, not me. I keep learning that the hard way. <_<

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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.

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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.

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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.

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multiple shport lines at 698. If they don't hold, this thing could really let loose to the downside tomorrow.

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