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IDS World Markets Thurs 16th August 07


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I think a big bounce is inevitable today. Crashes never occur on Friday. Monday and Tuesday are the best bet.

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Want to make clear that I do not expect a reversal day, just a strong bounce from the lows, wherever they may be.

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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.

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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%!

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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.

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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

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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.

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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..... :lol:

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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.

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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).

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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..... :lol:

600162[/snapback]

 

The bigger they are, the harder they fall.

Short it to ZERO!

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