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IDS World Markets Mon 2nd March 09


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Toyota Leads Drop as Japan Car Sales Hit 35-Year Low

 

March 2 (Bloomberg) -- Toyota Motor Corp. and Honda Motor Co., Japan?s two biggest automakers, led a drop in the country?s monthly vehicle sales as falling wages and rising unemployment cut demand to the lowest level in 35 years.

 

Sales of cars, trucks and buses, excluding minicars, fell 32 percent to 218,212 vehicles in February, the Japan Automobile Dealers Association said in a statement today. Toyota?s sales slipped 32 percent, Honda?s slumped 21 percent and Nissan Motor Co., the country?s No. 3 automaker, sold 35 percent fewer vehicles.

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U.K. Non-Conforming Loan Repossessions Rose a Quarter, S&P Says

 

March 2 (Bloomberg) -- Repossessions on U.K. mortgages that don?t meet standard lending criteria rose by a quarter in the last three months of 2008, while delinquencies increased by a fifth, according to Standard & Poor?s.

 

Foreclosures on so-called non-conforming mortgages included in 35 billion pounds ($50 billion) of bonds rated by S&P climbed to 3.47 percent in the fourth quarter, from 2.77 percent in the previous three-month period, S&P said in a report published today. The percentage of home loans in arrears for more than 90 days climbed to 12.46 percent, from 10.3 percent, the New York- based ratings company said.

 

U.K. credit-card arrears increased 9 percent to a record 6.44 percent in the final three months of last year, S&P said in a separate report. The data are based on 30.4 billion pounds of credit card-backed bonds that S&P rates.

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Hmm .. I seem to have the "sweaty palms" with the current micro chort pounder trade [1 contract].

 

Chort @ 1.4207 .. with tight Stop LMT @ 1.4203 / 05.

 

Will exit @ 1.4179, just above 2nd last trough, if she works out ..

 

EDIT: Stopped out @ 1.4203 & filled. Nano profit on micro trade. Gave $7 of $25 to the borker .. Got change?

post-2117-1235986146_thumb.png

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Good Morning!

 

Welcome to Intraday Stool! Thanks to aussiebear for her daily opening!

 

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qqqq 5 day cycle projection of 26.67 was almost hit in the pre market. SPY hasn't quite hit 5 day cycle projection of 71.50. I suspect they will rally off an opening low, then head back down to retest or slightly lower low later. 5 day cycle should go into a weak sideways up phase for a day or two.

 

channel shport on spx around 722-23, then 711-12.

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My first post and I hope the fact I registered isn't a contrarian indicator for a bear bounce.

There is no doubt the charts indicate it's at a critical juncture.

 

As most, I am following the decline off the 1929 top. I'll post charts on my outlook. I believe this bear continues until around Sep 2010, with quick bounces along the way.

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qqqq 5 day cycle projection of 26.67 was almost hit in the pre market. SPY hasn't quite hit 5 day cycle projection of 71.50. I suspect they will rally off an opening low, then head back down to retest or slightly lower low later. 5 day cycle should go into a weak sideways up phase for a day or two.

 

channel shport on spx around 722-23, then 711-12.

 

Yes, the market is too stretched here. Below is a chart I posted over the weekend in M2M. That lower target was very close to the 5 day cycle projection.

 

post-350-1236001233_thumb.jpg

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