4shzl Posted November 28, 2007 Report Share Posted November 28, 2007 Dow up 340 pts, Naz up 3%, BKX up 5%... ... and here I am holding the only red thing on my screen.. CFC calls are down for the day. That is absolutely hilarious. Any other year it would be pretty depressing. 628656[/snapback] Countrywide says it's not in trouble Countrywide Financial Corp. moved to reassure investors Tuesday that it wasn't borrowing too much and wouldn't be constrained in its ability to provide home loans. "We said it back in August, we said it in September, we said it last week, we'll say it until we turn blue in the face, but we have ample liquidity to fund our growth and operational needs," David Bigelow, Countrywide's managing director of investor relations, said at an FBR Capital Markets conference in New York. Countrywide shares rose 33 cents, or 3.8%, to $8.97, marking only the second gain in two weeks for the stock. The shares are down 79% this year. Bigelow rejected criticism that Calabasas-based Countrywide had threatened the soundness of the Federal Home Loan Bank system by borrowing excessively. He also said Countrywide didn't expect issues affecting Freddie Mac and Fannie Mae to materially hurt its ability to make home loans. LATimes Personally, I think blue might be an improvement on orange. Link to comment Share on other sites More sharing options...
Drano Posted November 28, 2007 Report Share Posted November 28, 2007 Dow up 340 pts, Naz up 3%, BKX up 5%...? ... and here I am holding the only red thing on my screen.. CFC calls are down for the day.? That is absolutely hilarious.? Any other year it would be pretty depressing. 628656[/snapback] Countrywide says it's not in trouble Countrywide Financial Corp. moved to reassure investors Tuesday that it wasn't borrowing too much and wouldn't be constrained in its ability to provide home loans. "We said it back in August, we said it in September, we said it last week, we'll say it until we turn blue in the face, but we have ample liquidity to fund our growth and operational needs," David Bigelow, Countrywide's managing director of investor relations, said at an FBR Capital Markets conference in New York. Countrywide shares rose 33 cents, or 3.8%, to $8.97, marking only the second gain in two weeks for the stock. The shares are down 79% this year. Bigelow rejected criticism that Calabasas-based Countrywide had threatened the soundness of the Federal Home Loan Bank system by borrowing excessively. He also said Countrywide didn't expect issues affecting Freddie Mac and Fannie Mae to materially hurt its ability to make home loans. LATimes Personally, I think blue might be an improvement on orange. 628669[/snapback] "He also said Countrywide didn't expect issues affecting Freddie Mac and Fannie Mae to materially hurt its ability to make home loans." How could it hurt its ability to make home loans? It already doesn't HAVE any ability to make loans. Link to comment Share on other sites More sharing options...
dogsie Posted November 28, 2007 Report Share Posted November 28, 2007 Oh oh, bad news for bears, Cramer: Savor This Rally; It'll Get Ugly Again Market hugely Dover Sole, more Dover Sole than anytime in years. Third-to-last day of the quarter, the last day you can mark up stocks without worrying that the feds will investigate you. A successful offering from the most beleaguered enterprise out there -- Freddie Mac . New, fresh capital from overseas for the worst of situations. Comments from a Fed head that actually recognized that something might be wrong, helped by incredibly and undeniably weak data. Link Link to comment Share on other sites More sharing options...
Drano Posted November 28, 2007 Report Share Posted November 28, 2007 Rules: Close at low of day, gap up next day. Close at high of day, gap up nest day. Do I have those rules correct? Link to comment Share on other sites More sharing options...
Drano Posted November 28, 2007 Report Share Posted November 28, 2007 Oh oh, bad news for bears, Cramer weighs in Savor This Rally; It'll Get Ugly Again Market hugely Dover Sole, more Dover Sole than anytime in years. Third-to-last day of the quarter, the last day you can mark up stocks without worrying that the feds will investigate you. A successful offering from the most beleaguered enterprise out there -- Freddie Mac . New, fresh capital from overseas for the worst of situations. Comments from a Fed head that actually recognized that something might be wrong, helped by incredibly and undeniably weak data. Link 628671[/snapback] Boy, that IS bad news. And Abbey Jo nowhere in sight. Link to comment Share on other sites More sharing options...
dogsie Posted November 28, 2007 Report Share Posted November 28, 2007 On the other hand, our favorite ex Stooly had this to say: 600-days worth of pessimism is about to reverse. Probably see the biggest leg of the bull market starting today. Link to comment Share on other sites More sharing options...
Dr.Correll Posted November 28, 2007 Report Share Posted November 28, 2007 sudaca, what those markets doin down south of the equator? Link to comment Share on other sites More sharing options...
Sudaca Posted November 28, 2007 Report Share Posted November 28, 2007 Dow up 340 pts, Naz up 3%, BKX up 5%...? ... and here I am holding the only red thing on my screen.. CFC calls are down for the day.? That is absolutely hilarious.? Any other year it would be pretty depressing. 628656[/snapback] Countrywide says it's not in trouble Countrywide Financial Corp. moved to reassure investors Tuesday that it wasn't borrowing too much and wouldn't be constrained in its ability to provide home loans. "We said it back in August, we said it in September, we said it last week, we'll say it until we turn blue in the face, but we have ample liquidity to fund our growth and operational needs," David Bigelow, Countrywide's managing director of investor relations, said at an FBR Capital Markets conference in New York. Countrywide shares rose 33 cents, or 3.8%, to $8.97, marking only the second gain in two weeks for the stock. The shares are down 79% this year. Bigelow rejected criticism that Calabasas-based Countrywide had threatened the soundness of the Federal Home Loan Bank system by borrowing excessively. He also said Countrywide didn't expect issues affecting Freddie Mac and Fannie Mae to materially hurt its ability to make home loans. LATimes Personally, I think blue might be an improvement on orange. 628669[/snapback] Definitely. Link to comment Share on other sites More sharing options...
T_Slim Posted November 28, 2007 Report Share Posted November 28, 2007 Time to grab the pom poms. The bull market returns. Is it too late to go long? Commodities taking a beating, but stocks are up? Smells fishy . . . wash, rinse, repeat. Link to comment Share on other sites More sharing options...
Phil Late Show Posted November 28, 2007 Report Share Posted November 28, 2007 On the other hand, our favorite ex Stooly had this to say: 600-days worth of pessimism is about to reverse. Probably see the biggest leg of the bull market starting today. 628674[/snapback] 600 days of pessimism? A reversal of this trend sounds good to me. Link to comment Share on other sites More sharing options...
patents Posted November 28, 2007 Report Share Posted November 28, 2007 How about a nice big red candle to top off this day? Can it happen? Link to comment Share on other sites More sharing options...
Drano Posted November 28, 2007 Report Share Posted November 28, 2007 How about a nice big red candle to top off this day? Can it happen? 628679[/snapback] In some alternate universe, perhaps. Link to comment Share on other sites More sharing options...
Sudaca Posted November 28, 2007 Report Share Posted November 28, 2007 sudaca, what those markets doin down south of the equator? 628675[/snapback] Goin' bananas, of course... Brazil, Mexico up 4%, add in currency effect and it gives you 6-7% in USD terms for the day. Brazilian bank ADRs up 10-11%. Even Ecuador and Bolivia, that don't have stock markets, are up Link to comment Share on other sites More sharing options...
Speakeasy Posted November 28, 2007 Report Share Posted November 28, 2007 You were correct Jimi. Bucky is getting whacked back down. Seems to be churing up and down. Lows at a74.5ish. I still think it's in a swup mode until that's taken out. Link to comment Share on other sites More sharing options...
cwd Posted November 28, 2007 Report Share Posted November 28, 2007 I think the Fed is gonna have to cut, and cut aggresively, BTW.? I think Fed Funds target has to go down 100bps in the next 6 months. 628559[/snapback] what happens when dollar tanks another 20%? Oil will be over $150/bbl and gasoline, home heating oil and natural gas will be over $5/gal. Consumers are already getting squeezed. More squeezing isn't going to help. As it is a recession is inevitable. Cutting rates will simply turn it into a depression. Cutting rates only works if the existing debt can be refinanced at a lower rate and at the same time additional debt is created to spur growth. This is impossible at this junction. Already debt is being destroyed and asset prices are declining. Refinancing is not possible and the capacity to expand debt, in aggregate, does not exist. The price of marginal debt is irrelevant. 628570[/snapback] Brilliant and succinct. Love it. However, I agree with Suds. US rate cuts will be matched by rate cuts elsewhere. There are also forces related to debt contraction and the need of some foreign holders to pay debt service and payoffs in dollars that could boost the dollar. From that standpoint, it's hard to know which way the dollar will go. I'll stick with what the charts are telling me. The size and staying power of a short term dollar rally here should give some good clues about just how low the dollar is headed in the big picture. 628592[/snapback] How is this for the Dollar rally. and check real money GC Z07* N/A 8159 7910 8050 + 47 GC G08* N/A 8232 7981 8120 + 47 TX Z07* 75145 75735 75075 75140 + 35 Link to comment Share on other sites More sharing options...
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