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IDS World Markets Fri 19th September 08


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t?s=%5EAORD

 

 

Doing the big bounce today. All Ords +3.3% with a huge rise in the Financials, +7%, REITS next +4.4% followed by Miners +2.9%. There's only one red, Consumer Staples, -0.7%.

 

Strong rises in the miners: BHP +2.5%, RIO +4.6% and in the golds, Newcrest +2%, Lihir +6.1%. Newmont is going the other way, -7.3%.

 

Oils generally up: Woodside +2.7%, Santos flat and Caltex +1.9%.

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Moving your post to today's thread, bizfix...gets confusing if there's too many threads going... :)

 

interesting question on mm funds. All transactions at fidelity clear through fidelity cash. Take a look at fidelity cash its a mm fund. Their is no cash at fidelity its not a bank either is the brokerage operation within td though its owned by bank. I have all my cash in fidelity us treaasury mm fund though i am nervous if their is a buck break at na on us treasury mm fund how that affects me.

690289[/snapback]

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Traders of Short and UltraShort ETFs and ETNs Face Imprisonment, Torture

 

WASHINGTON (MarketBiatch) -- The U.S. Securities and Exchange Commission intends to report inverse ETF and ETN trading activity to the U.S. Department of Homeland Security (DHS), as such trading is now considered unpatriotic and detrimental to the function of free capital markets.

 

"Those individuals and institutions buying and selling these instruments are not just traders--they're traitors as well," said Michael Chertoff, the DHS executive secretary, on the heels of a similar decree criminalizing short-selling.

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My wife has rented one of those bleak movies that only show at film festivals -- it's a grim drama about desperate losers whose lives end in depression, alcoholism and suicide.  I think I'll go watch it with her -- it will probably cheer me up.

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man, i could use a dose of that. what's the movie's title? :ph34r:
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w?s=%5EAORD

 

 

A major bounce today which takes us back to historic resistance although there's still room to move before All Ords reaches recent resistance.

 

All Ords closed +4.1% propelled by huuuuge moves in the Financials, +9.8% and REITS, +7%. Other sectors that did well were Energy +3.8% and Consumer Discretionary +3.5%. There were a few red sectors: Utilities -2.3%, Healthcare -0.6% and Consumer Staples -0.3%.

 

The big miners did ok: BHP 1.1% and RIO +3.2%. Golds headed south: Lihir -1.2%, Newcrest -2.7% and Newmont -10.1%.

 

Oils rose: Woodside +5.2%, Santos +0.5% and Caltex+1%.

 

Massive gains by the banks: NAB +17.3%, ANZ +14.6%, WBC +7% and CBA +6.5%.

 

Screaming green in Asia: China +9.5%, Honkers +7.4%, India +3.5%, Nikkers +3.8%, Taiwan +5.8% and Singers/Sth Korea +4.6%.

 

 

Standby for blastoff in Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=%5EFCHI

 

 

http://finance.yahoo.com/intlindices?e=europe

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N.Z. Central Bank Takes Steps to Ease Liquidity

 

Sept. 19 (Bloomberg) -- The Reserve Bank of New Zealand will now accept bank bills in its daily market operations to ease pressure on liquidity in the financial system.

 

Local banks' borrowing costs rose to the highest since March, according to a gauge that measures the availability of funds in the market. The central bank will also offer longer terms of up to six months in its operations ``in order to help ease pressure at the short end of the market,'' according to a statement released in Wellington today.

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Confusion reigns in the derivatives market.

 

I have accounts with 2 companies for CFD trading /spread betting.

This was on the welcome screen on my IG Index today.

 

Restrictions on Short Selling

In light of Thursday's FSA statement on short positions in financial stocks, we will be taking necessary steps to prevent short selling of new positions in UK stocks governed by the FSA.

 

A list of securities affected by this change is expected to be published by the FSA prior to the London Stock Exchange opening on Friday 19 September 2008. Any outstanding orders to sell these securities will be cancelled in accordance with this directive.

 

I called them and asked for clarification - can I sell Barclays short on a CFD or a spreadbet? They said no, the FSA has banned all short selling. I can sell any long position I have, but they are not allowed to accept shorts.

 

I checked wiith CMC Markets - business as usual for them and they are happy to accept short positions. Goldmans own 10% of CMC Markets.

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Confusion reigns in the derivatives market.

 

I have accounts with 2 companies for CFD trading /spread betting.

This was on the welcome screen on my IG Index today.

 

Restrictions on Short Selling

In light of Thursday's FSA statement on short positions in financial stocks, we will be taking necessary steps to prevent short selling of new positions in UK stocks governed by the FSA.

 

A list of securities affected by this change is expected to be published by the FSA prior to the London Stock Exchange opening on Friday 19 September 2008. Any outstanding orders to sell these securities will be cancelled in accordance with this directive.

 

I called them and asked for clarification - can I sell Barclays short on a CFD or a spreadbet? They said no, the FSA has banned all short selling. I can sell any long position I have, but they are not allowed to accept shorts.

 

I checked wiith CMC Markets - business as usual for them and they are happy to accept short positions. Goldmans own 10% of CMC Markets.

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i guess it all depends if the borker is a bucket shop or not?

 

i.e., takes the opposite side of retail customer orders without actually having them executed on an exchange

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i guess it all depends if the borker is a bucket shop or not?

 

i.e., takes the opposite side of retail customer orders without actually having them executed on an exchange

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I guess they can always provide a shorting service as long as they hedge by being long the stock or by having a tailor made service with a bank (that eventually owns the stock) that hedges this out. I think Proshares short ETF's must be in the same situation. They only need to hedge out their net position as they also sell long and ultra long funds.

 

BWTFDIK

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Even after today's gap up jumperama the european fraudexes still haven't reached the first resistance lines where I consider reshorting. Not far away though.

 

I'm considering shorting euroStoxx50 (no exposure to UK's "short ban" fascism) at 3200.

 

instinformer.php?&inst_id=132787&market_id=15&spid=ws&tr=5d&ct=line&gb=10m&size=tool&till=1221868800&1221817779

 

instinformer.php?bgcolor=F1F1E7FE&&inst_id=132787&market_id=15&spid=ws&tr=3m&&1221817858&volume=0

 

If they get frothy 3264 looks safer.

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I'm gonna play devils advocate here....

 

I think all the bear wailing on M2M yesterday re: banning of short selling financial stocks was quite ironic.

 

With the news of the massive coordinated global liquidity injections into the financial markets yesterday morning the writing was on the wall, well in advance for any bear to take profits.

 

Yesterday may well have been a capitulation low in the financial sector regardless of the new non-shorting rules (for financial stocks). Seems that these rules have been brought in after the damage had been done.

 

Bulls are successfull in a bull markets because they rotate sectors. We are in a bear market, is it not TIME for bears to do the same and rotate into sectors other than financials?

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More fascist measures for the support of crony capitalism

 

"China Investment Corp., the nation's $200 billion sovereign wealth fund, will buy stakes in Industrial & Commercial Bank of China Ltd., Bank of China Ltd. and China Construction Bank Corp., the official Xinhua News Agency said in an announcement yesterday. China's 0.1 percent stock transaction duty will be removed for purchases and levied only on sales starting today, it said. "

 

Take notes Hank, Ben, Dodd, Cox... gotta keep a short list of these pricks around.

 

http://www.bloomberg.com/apps/news?pid=206...rZ8o&refer=home

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