wndysrf Posted April 29, 2003 Report Share Posted April 29, 2003 Spectacular short squeezes everywhere. What else is new?? Bonds and dollar still not confirming the stock rally. Everyone should check out Countrywide's new report. "Loan fundings increased 133 percent over last year to $102 billion." "March's pipeline of applications closed at a record $59 billion, $10 billion higher than at the end of December, signaling robust near-term production performance" "The servicing portfolio continued its uninterrupted climb to $502 billion, an increase of $50 billion since the beginning of the year and up 41 percent over the $355 billion achieved in March 2002." "Countrywide commenced 2003 with another quarter of exceptional earnings performance," said Angelo R. Mozilo, Chairman, Chief Executive Officer and President. "The persistent low interest rate environment combined with our strategically enhanced infrastructure pushed Mortgage Banking segment earnings to a new high. This marks the second consecutive quarter in which fundings surpassed the $100 billion mark and exceeded loan portfolio prepayments by over $50 billion. Our servicing portfolio has surpassed $500 billion, driven almost exclusively by our internal production efforts. We have intentionally grown our servicing portfolio organically in order to focus our efforts and resources on leveraging opportunities, implementing business model refinements and developing our diversification initiatives, rather than on acquisition related integration issues. "Over the past decade, Countrywide has systematically diversified into new business lines that strategically leverage the assets and expertise within our core mortgage banking business," Mozilo explained. "Our success in expanding the Company's reach into synergistic businesses is reflected in the first quarter of 2003 with diversified businesses' pre-tax earnings reaching $170 million, over two and a half times greater than diversified businesses' pre-tax earnings for the full 2000 fiscal year. We have developed these businesses to capitalize on our core mortgage banking business and to broaden our scope with third parties, expanding earnings potential for the future. Capital Markets contributed $96 million in pre-tax earnings for the quarter, already nearly half of their pre-tax earnings for the full 2002 year. The Banking segment's earnings of $43 million in the first quarter are over 300 percent higher than they were a year ago. The benefits of the streamlining and restructuring initiatives implemented in the Insurance segment during 2002 are evident as pre-tax earnings rose to $25 million, an increase of 457 percent from the fourth quarter. Our Global operations showed significant growth from the same period last year, with progress reflecting the infrastructure fine tuning and technological investments to better position this business for long-term performance. "Against the back drop of a thriving industry in which external experts are forecasting origination volumes ranging from $2.5 to $3.2 trillion, we anticipate strong production performance for the balance of 2003," Mozilo continued. "As a result of the opportunities presented by this favorable market environment and the maturation of our diversification initiatives, we expect to report diluted earnings per share within a range of $10.00 to $11.00 for the full year of 2003. While we recognize that 2003 performance is fueled by an extraordinary environment, we believe that the following factors better position the Company to perform more effectively than previous post refinance- boom periods: ........................... Enough said. Doug Noland is likely to have a field day with this one. Take it away, Riverboaters..... Link to comment Share on other sites More sharing options...
wndysrf Posted April 29, 2003 Author Report Share Posted April 29, 2003 Anybody keeping track of historical 10-day ARMs readings? 10 out of 11 days of a TRIN under .89 on the Nasdaq. 10-day ARMS NYSE: 10.76 10-day ARMS Naz: 8.80 Gotta be close to a record low. Link to comment Share on other sites More sharing options...
Slothrop Posted April 29, 2003 Report Share Posted April 29, 2003 No new VIX low on a new SPX high. When is the last time that happened? Link to comment Share on other sites More sharing options...
joe sixpack bundy Posted April 29, 2003 Report Share Posted April 29, 2003 jdsu - what a colossal joke! "realignment charge" $ 1.2 bln. - that's about 5 times quartely revenues.....still have 6400 employees.....that's about 6400 too many.....yet, they're bidding the stock higher.....can't wait to see ceo strauss on crapvision painting his rosy picture.... Link to comment Share on other sites More sharing options...
DrStool Posted April 29, 2003 Report Share Posted April 29, 2003 Feedometer, Uncle Buck and the Long Bong Hit (Anals subscribers only) Will be reposted in tonight's Anals. Link to comment Share on other sites More sharing options...
rog Posted April 29, 2003 Report Share Posted April 29, 2003 IM, the largest distributor of tech products in the world, just warned big taking revenues down by 10% and earnings down by 25-50%. More evidence that there is a huge inventory glut in tech at the same time demand is stagnant. Link to comment Share on other sites More sharing options...
K Wave Rider Posted April 29, 2003 Report Share Posted April 29, 2003 The End, I think it's time for the lyrics to "Take It To The Limit". Link to comment Share on other sites More sharing options...
morass Posted April 29, 2003 Report Share Posted April 29, 2003 QLGC ripping up AH. It's all good till it aren't. Better Link to comment Share on other sites More sharing options...
Stoolander Posted April 29, 2003 Report Share Posted April 29, 2003 Anybody keeping track of historical 10-day ARMs readings? 10 out of 11 days of a TRIN under .89 on the Nasdaq. 10-day ARMS NYSE: 10.76 10-day ARMS Naz: 8.80 Gotta be close to a record low. This is what the charts look like. My numbers are slightly different than the ones you quoted wndy, I'll check into it. Link to comment Share on other sites More sharing options...
TheDeepBlueSea Posted April 29, 2003 Report Share Posted April 29, 2003 How the future the CountryWide et al. Credit Bubble situation will sound. Excerpt: Falling Stocks May Pose Threat To Banks' Capital Ratios TOKYO (Nikkei)--Major banks' share prices fell Tuesday as the Nikkei Stock Average closed at a post-bubble low. Mizuho Financial Group Inc. (8411) closed below 60,000 yen, and some market watchers are pointing to the possibility that if stock prices fall much farther, banks' capital ratios could fall below 8%. If bank share prices continue to fall, the corporate value of the banks will be eroded, making it harder for them to raise funds. This will also increase worries about the erosion of the banks' capital base. "The truth is that the situation is already dire," says Katsuhito Sasajima, an anal cyst with UBS Warburg (Japan) Ltd. How far would bank stocks have to fall before bankruptcy becomes imminent? Most anal cysts now say banks would face no obstacles to raising fresh funds even if their share prices fall below par. The safety net has been strengthened by the Bank of Japan's quantitative easing and the delay in putting a 10 million yen cap on deposit protection for all types of savings accounts. In the view of Hironari Nozaki, a senior anal cyst at HSBC Securities (Japan) Ltd., the critical level for the Nikkei average is 7,000. Merrill Lynch Japan Securities Co. anal cyst Yoshinobu Yamada puts it at 6,000. The specific level might be a matter of opinion. But if share prices continue to decline, and banks' capital ratios fall below the 8% level required for international operations, the banks will be forced to shrink their assets by calling in loans. This will lead to a credit crunch. Even if the banks avoid bankruptcy, the financial system will cease to function properly, and this will have a negative impact on the economy. The downward spiral could cause a run on bank deposits, undermining the public's and the market's faith in the government. Five equities anal cysts surveyed by The Nihon Keizai Shimbun believe that further injections of public funds will be needed to avert such a crisis. (The Nihon Keizai Shimbun Wednesday morning edition) Link to comment Share on other sites More sharing options...
FeedFool Posted April 29, 2003 Report Share Posted April 29, 2003 I have some new top target, which should get hit within next two days. Spoon 922-924 NDX 1035, Joke 8570. NDX could go little higher depending on the strength. Spoon numbers has not changed. I hope this will help when u see a spike. Take care, Link to comment Share on other sites More sharing options...
martialcomp Posted April 29, 2003 Report Share Posted April 29, 2003 Today looked like more program trading. Every time the Dow hits major resistance points, the program trading sells come in. Absolutely amazing how much program trading is being done. Looks as if you are dead unless you are trading on the same programs that the robotic fund managers and borkers are trading on. And, what if you are a little bit late and your programmed sell goes in at the same time as everyone elses? What happens when everyone is trading on the same resistance points on the long side? Looks like a recipe for disaster... Hers is a snippet from Realtimetraders.com "RealTimeTraders anal cysts continue to believe the Dow Jones industrial average will remain in the range between 9000 and 7700. The Nasdaq Composite is expected to remain between 1500 and 1260, and the S&P 500 is expected to remain between 950 and 815 until we see some meaningful improvement in fundamentals, not just sentiment." http://www.realtimetraders.com Link to comment Share on other sites More sharing options...
Guest Posted April 29, 2003 Report Share Posted April 29, 2003 Did anyone else notice that crapvision is now using the term "non-gaap" earnings numbers. Joe Kernen said, "and that's the one you should use to . . ." So they went from reporting everything as pro forma. Then they went to operating earnings. So now with both of those looking like toxic waste, we are starting to hear "non-gaap." Maybe they did a little survey to see which sounded easier to swallow by the sheep. Link to comment Share on other sites More sharing options...
PileDriver Posted April 29, 2003 Report Share Posted April 29, 2003 (PileDriver @ Apr 29 2003, 04:12 PM) Today is 34 days from 3/12 low 21 days from 3/31 low 13 days from 4/10 low ? Hat Trick! More BMR fib durations: Dec 2 top 34 days from 10/10/02 low 13 days from 11/11/02 low Aug 22 top 21 days from 7/24/02 low 13 days from 8/5/02 low This turd is stretched to the max limit no matter how you measure it, SPX 925 is massive resistance. Now what?! Link to comment Share on other sites More sharing options...
The End Posted April 29, 2003 Report Share Posted April 29, 2003 Here ya go K Wave Eagles One of These Nights (1975) Take It To The Limit All alone at the end of the of the evening And the bright lights have faded to blue I was thinking 'bout a woman who might have Loved me and I never knew You know I've always been a dreamer (spent my life running 'round) And it's so hard to change (Can't seem to settle down) But the dreams I've seen lately Keep on turning out and burning out And turning out the same So put me on a highway And show me a sign And take it to the limit one more time You can spend all your time making money You can spend all your love making time If it all fell to pieces tomorrow Would you still be mine? And when you're looking for your freedom (Nobody seems to care) And you can't find the door (Can't find it anywhere) When there's nothing to believe in Still you're coming back, you're running back You're coming back for more So put me on a highway And show me a sign And take it to the limit one more time Take it to the limit Take it to the limit Take it to the limit one more time :shocked :grin: Link to comment Share on other sites More sharing options...
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