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B4 The Bell Tuezelday October 5


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ECA to the Moon and beyond on a rocket ride... from Marty Weiss..."FNM's cash reserves are maybe 2%...5.4% of home Mortgages are equal to or exceed the value of the property."....Oh Fanny say it ain't so! :o

I recommend keeping ECA or your favorite quality NG company and not taking profits unless you are in a leveraged situation or very short term trader. NG is no where near the highs it will reach this winter. I know I said the same thing last fall, but I think the same pattern will repeat again.

 

Stage II rockets are being launched in silver and NG. :o :P :D

 

Repo pool reduced by $1.5B, $1.6 in agency repos also reduced. The Fed has almost no concern about FNM right now.

 

In regards to the Fed over the longer trem, note the attached chart of the monetary base. I mentioned in early June that the Fed would accelerate the money base at the same time rates would rise. It seems like that's what happened. I think now that the Fed will settle in at a higher channel around a 6% growth until about 2 to 6 weeks from now when they realize the economy not only has not regained traction, but it slipped into reverse.

 

http://research.stlouisfed.org/publications/usfd/page3.pdf

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Sleddog - CBS Market Hype added up the job losses: :o

 

Layoff plans leap 45% in September 

 

By Rex Nutting, CBS.MarketWatch.com

Last Update: 10:00 AM ET Oct. 5, 2004 

E-mail it | Print | Discuss | Alert | Reprint | RSS

 

WASHINGTON (CBS.MW) -- Layoff announcements by U.S. companies surged 45 percent in September to nearly 108,000, the highest number of planned job cuts since January, outplacement firm Challenger Grey & Christmas said Tuesday.

 

Job reduction announcements are up 41 percent from September 2003, while year-to-date job cuts are down 17 percent from 2003's pace, Challenger said. The total of 107,863 announced layoffs for the month was not seasonally adjusted, the firm said.

 

"The return to six-figure job-cut levels paints a grim picture for ongoing economic growth, as such activity is generally considered a measure of how companies view future business conditions," John Challenger, chairman of the firm, said in a written statement.

 

"Historically, the period from Sept. 1 through Dec. 31 is when we see the heaviest downsizing, and this year appears to be on track to repeat that trend," Challenger said.

 

The largest cuts in September were in industries focused on computers, transportation, telecommunications and consumer products.

 

http://cbs.marketwatch.com/news/story.asp?...%7D&siteid=mktw

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Sleddog - CBS Market Hype added up the job losses: :o

 

Layoff plans leap 45% in September?

 

 

 

WASHINGTON (CBS.MW) -- Layoff announcements by U.S. companies surged 45 percent in September to nearly 108,000, the highest number of planned job cuts since January, outplacement firm Challenger Grey & Christmas said Tuesday.

 

 

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"Historically, the period from Sept. 1 through Dec. 31 is when we see the heaviest downsizing, and this year appears to be on track to repeat that trend," Challenger said.

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That line doesn't make sense to me. Business gears up after vacations-get's back to business. Inventories are built for Christmas. Crops are harvested and shipped/stored. Think the data shows how weak the economy is after rebate checks are spent and vactions have been spent. Bad looking economic numbers to my bearishly biased mind. We SHOULD be heading down. Market being held up for employment report or GE earnings?

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