Lemur Posted August 16, 2007 Report Share Posted August 16, 2007 I think a big bounce is inevitable today. Crashes never occur on Friday. Monday and Tuesday are the best bet. 600149[/snapback] Want to make clear that I do not expect a reversal day, just a strong bounce from the lows, wherever they may be. 600151[/snapback] From what I can tell, every trader Tom out there is planning to short the rallies. So bounces will be meeting a wall of resistance at those key pts (fib, resistance lines etc). My plan is here is just to sit tight on my (big) short positions. Right now, I think the risk is in not holding the shorts for the big move. Link to comment Share on other sites More sharing options...
aussiebear Posted August 16, 2007 Author Report Share Posted August 16, 2007 Good to see our European posters active overnight here. I'd like to see more of you! Anybody in Europe with something to say, please register for the board. I'll get you approved as quickly as possible. 600147[/snapback] I second that... Holy sheet, Footsie -3.2%, CAC -2.8% and DAX -2.5%! Link to comment Share on other sites More sharing options...
BusKow Posted August 16, 2007 Report Share Posted August 16, 2007 Rumors of repo rate of 5% this morn? Link to comment Share on other sites More sharing options...
aussiebear Posted August 16, 2007 Author Report Share Posted August 16, 2007 U.K. Retail Sales Increase the Most in Five Months Aug. 16 (Bloomberg) -- U.K. retail sales unexpectedly rose by the most in five months in July as price cuts by stores lured shoppers. Sales climbed 0.7 percent after gaining 0.4 percent in June, which was twice as much as previously reported, the Office for National Statistics said today in London. Economists had forecast a 0.1 percent gain, the median of 32 estimates in a Bloomberg News survey showed. Tesco Plc, Britain's biggest retailer, and Wal-Mart Stores Inc.'s Asda cut prices on thousands of products to attract customers during the wettest summer months on record. The Bank of England is considering whether to lift interest rates again to slow growth and inflation. Investors have reduced expectations on an increase as a credit squeeze roils financial markets. Link to comment Share on other sites More sharing options...
try2win Posted August 16, 2007 Report Share Posted August 16, 2007 cat fight on CNBS ... good stuff ! Link to comment Share on other sites More sharing options...
try2win Posted August 16, 2007 Report Share Posted August 16, 2007 adding to long NASDAQ position Link to comment Share on other sites More sharing options...
crazy_ate Posted August 16, 2007 Report Share Posted August 16, 2007 Keep in mind that CFC is one of the Fed's primary dealers. They have a direct line to unlimited credit. 600150[/snapback] That may be, but they just drew down their ENTIRE $11.5 billion line of credit this morning because of continued liquidity concerns. They also stated that going forward 90%+ of the morts. they write will be GSE eligible Link to comment Share on other sites More sharing options...
crazy_ate Posted August 16, 2007 Report Share Posted August 16, 2007 cat fight on CNBS ... good stuff ! 600157[/snapback] Yeah, pretty good alright Lease"man" ---- crapping his pants Santelli -- daring Lease"man" to "come down to the pits!!!" Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 Keep in mind that CFC is one of the Fed's primary dealers. They have a direct line to unlimited credit. 600150[/snapback] That may be, but they just drew down their ENTIRE $11.5 billion line of credit this morning because of continued liquidity concerns. They also stated that going forward 90%+ of the morts. they write will be GSE eligible 600159[/snapback] Too bad the GSEs are maxed out and won't be buying. Link to comment Share on other sites More sharing options...
crazy_ate Posted August 16, 2007 Report Share Posted August 16, 2007 Keep in mind that CFC is one of the Fed's primary dealers. They have a direct line to unlimited credit. 600150[/snapback] That may be, but they just drew down their ENTIRE $11.5 billion line of credit this morning because of continued liquidity concerns. They also stated that going forward 90%+ of the morts. they write will be GSE eligible 600159[/snapback] Too bad the GSEs are maxed out and won't be buying. 600161[/snapback] I hear yah.....but I think that is going to be "one" of the relief valves that will have to be pulled -- eventually (i.e., expanded limits) Or better yet, they can create a new Federally backed mortgage entity..... Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 qqqq bouncing toward the 3 day cycle MA, now coming down at 45.81. spy bouncing toward 3 day cycle MA at 140.40. 3 day cycle projection on the Qs pulls up to 45.30. Looks like a replay of yesterday. Rally in the AM, collapse in the PM. Since there's no knifedown this AM, I'll again hold the qid through this bounce. Link to comment Share on other sites More sharing options...
potatohead Posted August 16, 2007 Report Share Posted August 16, 2007 DJ Fed Accepts $5 Bln In 14-Day RPs Type of transaction: 14-Day RPs Total accepted: $5 Bln Total submitted: $77.05 Bln Agency Collateral Operation Total accepted: None Total submitted: $22.35 Bln Stop-Out Rate: N/A Weighted Average: N/A High-rate submitted: 4.95% Low-rate submitted: 4% Treasury Collateral Operation Total accepted: $250 Mln Total submitted: $16.7 Bln Stop-Out Rate: 4.8% Weighted Average: 4.8% High-rate submitted: 4.8% Low-rate submitted: 3.5% Mortgage-Backed Collateral Operations Total accepted: $4.75 Bln Total submitted: $38 Bln Stop-Out Rate: 5.15% Weighted Average: 5.23% High-rate submitted: 5.28% Low-rate submitted: 4.5% (Data was provided by the New York Federal Reserve Bank). Link to comment Share on other sites More sharing options...
DrStool Posted August 16, 2007 Report Share Posted August 16, 2007 I just posted another bellwethers update in WSE Pro. Lots of new 13 week cycle cmaps. Check it out! http://wallstreetexaminer.com/stocks/bellwethers081607.pdf (subscribers only) Link to comment Share on other sites More sharing options...
crazy_ate Posted August 16, 2007 Report Share Posted August 16, 2007 BWAAAAAAHHHHHHHH Whiskey tried to do his intro -- in his usual bewildered and drunken state -- so they yanked his mic right in the middle of his "LIVE FROM.......bzzzzzzzzzz!!!!! Link to comment Share on other sites More sharing options...
ChicagoBear Posted August 16, 2007 Report Share Posted August 16, 2007 Keep in mind that CFC is one of the Fed's primary dealers. They have a direct line to unlimited credit. 600150[/snapback] That may be, but they just drew down their ENTIRE $11.5 billion line of credit this morning because of continued liquidity concerns. They also stated that going forward 90%+ of the morts. they write will be GSE eligible 600159[/snapback] Too bad the GSEs are maxed out and won't be buying. 600161[/snapback] I hear yah.....but I think that is going to be "one" of the relief valves that will have to be pulled -- eventually (i.e., expanded limits) Or better yet, they can create a new Federally backed mortgage entity..... 600162[/snapback] The bigger they are, the harder they fall. Short it to ZERO! Link to comment Share on other sites More sharing options...
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