aussiebear Posted November 18, 2008 Report Share Posted November 18, 2008 http://finance.yahoo.com/intlindices Link to comment Share on other sites More sharing options...
aussiebear Posted November 18, 2008 Author Report Share Posted November 18, 2008 http://money.cnn.com/markets/morning_call/ http://www.kitco.com http://www.kitconet.com/webcharts/base_metals.html Energy futures Link to comment Share on other sites More sharing options...
aussiebear Posted November 19, 2008 Author Report Share Posted November 19, 2008 A tad directionless today. All Ords flat, Consumer Discretionary in the dumps, -2.7% followed by Energy -1.3%. There's a few greens: REITS +1.6%, Financials +1.3% and Telecomms, +0.8%. Minor losses in the big 2 miners: BHP -0.5%, RIO -1% with little movement in the golds: Newmont and Lihir flat and Newcrest +0.1%. Oils down but not out: Woodside -2.7%, Santos -0.9% and Caltex -0.9%. Link to comment Share on other sites More sharing options...
aussiebear Posted November 19, 2008 Author Report Share Posted November 19, 2008 Off the lows but still a bearish one... All Ords -0.9%, Materials leading on the downside, -3.8%, Miners next -3.7% and Consumer Discretionary -2.9%. Financials did a bounce, +2.3% as did REITS, +1%. Miners continued to slide throughout the day: BHP -4.1%, RIO -3.1% and in the golds, Newcrest -0.2%, Lihir -3.4% and Newmont +1.4%. Oils mixed: Woodside -3%, Santos +0.6% and Caltex down a hefty -9.7%. Mixed in Asia: China +6.3%, Honkers +0.7%, India +2.2% and Nikkers -0.7%. Over to UK/Europe: http://finance.yahoo.com/intlindices?e=europe Link to comment Share on other sites More sharing options...
Jetlag Posted November 19, 2008 Report Share Posted November 19, 2008 "Record injections of liquidity have driven the overnight lending rate between banks to less than half the 1 percent target set by officials last month. The gap is shifting investors' focus toward the amount of money in the banking system as a better gauge of Fed intentions, something San Francisco Fed President Janet Yellen last month called ``a kind of quantitative easing.'' ``There has been a policy shift, but the Fed is not transparently announcing what it is doing and why,'' said former St. Louis Fed President William Poole, now a senior fellow at the Cato Institute in Washington. ``Monetary policy works best when the markets understand what the central bank is doing.'' " http://www.bloomberg.com/apps/news?pid=206...&refer=home Gloomberg is catching on, some factual incorrections but close. Link to comment Share on other sites More sharing options...
psyche doctor Posted November 19, 2008 Report Share Posted November 19, 2008 Link to comment Share on other sites More sharing options...
psyche doctor Posted November 19, 2008 Report Share Posted November 19, 2008 The last two late-day power spikes have faked out bully and went on to new lows or test lows. Will yesterday's power surge be any different? Link to comment Share on other sites More sharing options...
psyche doctor Posted November 19, 2008 Report Share Posted November 19, 2008 Gold being wound up. Looking for clues as to which way. Should go north, though. Link to comment Share on other sites More sharing options...
psyche doctor Posted November 19, 2008 Report Share Posted November 19, 2008 The dollar may hold clues to many markets. The daily chart looks wedgey, suggesting a decent move is about to get underway. However, the shorter time frame suggests that a move south may only be corrective and somewhat limited. One day, though, bucky will meet its fate at the floor of the canyon. Link to comment Share on other sites More sharing options...
Jetlag Posted November 19, 2008 Report Share Posted November 19, 2008 Interesting news from Across the Curve: Meltdown CMBS Market Begins to Show Fissures Tally-Ho! http://www.markit.com/information/products...dices/cmbx.html Even the safest (oldest) bestest rated crap is spreading like a two dolah hoe Equity wise, is it already baked in or the down draft is just beginning? btw, this must be the only 2x inverse ETF performing at a real 2x inverse in a long time frame I doubled down after the short selling ban (that gap down) butt sold too soon, way too soon. Link to comment Share on other sites More sharing options...
DrStool Posted November 19, 2008 Report Share Posted November 19, 2008 "Record injections of liquidity have driven the overnight lending rate between banks to less than half the 1 percent target set by officials last month. The gap is shifting investors' focus toward the amount of money in the banking system as a better gauge of Fed intentions, something San Francisco Fed President Janet Yellen last month called ``a kind of quantitative easing.'' ``There has been a policy shift, but the Fed is not transparently announcing what it is doing and why,'' said former St. Louis Fed President William Poole, now a senior fellow at the Cato Institute in Washington. ``Monetary policy works best when the markets understand what the central bank is doing.'' " http://www.bloomberg.com/apps/news?pid=206...&refer=home Gloomberg is catching on, some factual incorrections but close. I started pointing this out to subscribers of the Wall Street Examiner Professional Edition Fed Report about 3 weeks ago. The mainstream media is just noticing it now? Link to comment Share on other sites More sharing options...
DrStool Posted November 19, 2008 Report Share Posted November 19, 2008 Good Morning! Welcome to Intraday Stool! Thanks to aussiebear for her daily opening! You can join the discussion by registering (PG rated user names only, please) and posting here as well. Registration is easy. Just click the Register link above, enter your email address (which you have the option to keep confidential), and enter a user name. To keep out spammers and scammers, I'll send you an email with a few Monty Python type questions. Just reply with your answers, and I'll approve your registration as soon as I receive your reply. Unfortunately, due to the barrage of spammers using Gmail and certain European email providers, including yahoo.co.uk, we cannot process any registrations associated with a gmail address. In that case please use the email address from your isp, or some other provider. If you have questions about how to register and post, use the Help link in the menu bar at the top of the page. If you know others who might be interested in joining us, use the email to a friend link above the thread. Many tanks for joining us! Doc Try the Professional Edition risk free for thirty days. If, within that time you don't find the information helpful, I'll give you a full refund. It's that simple!Click here for more information. Subscribe to the Wall Street Examiner Professional Edition Precious Metals Daily, just $39 quarterly. Try it risk free for 30 days! Get this indispensable daily analysis and support the Stool! Link to comment Share on other sites More sharing options...
ChickenLittle Posted November 19, 2008 Report Share Posted November 19, 2008 There is a consensus among "Smart " money players that corporate/junk debt is a far better way to invest than equities in this environment. You get equity like returns and are a further up the balance sheet in seniority than equity . Typical MBA 30 yr old hedgie type thinking - makes for good client presentations- sounds logical - and is probably very wrong. My take: We are is a sea-change period. THE problem today is that most borrowers - individuals and corporate - CANNOT repay the PRINCIPAL on their borrowings under any reasonable assumptions of future earnings potential. This was never perceived as problematic in the recent past - because everyone could always refinance/rollover their debts. Understanding this really opens one's eyes to the real situation today. Yes - sure, junk bonds may have a high yield - but the default rates at maturity may not look anything like 1990, 1994 or 2001. It may be catastropic. So you get 13% yield for 2 yrs and then a default with close to zero recovery. Therefore - I believe that equities representing a fractional ownership interest in enterprise with real, long lived assets and well managed - with zero debt, bought around book value with a margin of safety - are much safer than junk bonds, leveraged loans etc that are the current rage amongst the "smart" crowd. Sure these are equities are therefore in MBA speak - "junior" to debt - but Iam talking about companies that have no debt- so there is NOTHING senior to the equity! Link to comment Share on other sites More sharing options...
Charmin Posted November 19, 2008 Report Share Posted November 19, 2008 Interesting to see Shankhigh doing 6% moves back to back Link to comment Share on other sites More sharing options...
ChickenLittle Posted November 19, 2008 Report Share Posted November 19, 2008 speaking of "sea-changes" - another thought on equity "valuations". There is a whole generation or two that has gotten comfortable with really, really idotic concepts - now commonly taught in colleges and blessed by nobel laureates - concepts that will die and take down their adherants with them. Iam talking about the whole "index fund" idea - buying the market concept. Iam talking about valuations based on comaparisons to "historical" ranges in the industry for PE, PE/Growth and other such nonsense. ie. Buy XXX tech stock because historically it traded in a range of 15-20X trailing earnings and is currently cheap at only 12X trailing earnings - laughable nonsense. A lot of ideas and the associated capital is in the process of being decimated - despite the strenuous efforts by various govts to keep the game going. Link to comment Share on other sites More sharing options...
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