Hiding Bear Posted June 28, 2004 Report Share Posted June 28, 2004 Welcome to another week of trading, humor, insights, and what-not at B4 the Bell! B4 has as its central theme short-term trading, lead by the astute technician Brain4. But it is also about what ever members think affects that in a cordial atmosphere of a 24/7 international family lounge. Don't Worry, Be Happy! Don't Panic Over Rates By ALEX BERENSON Published: June 28, 2004 Stay the course. With the Federal Reserve all but certain to raise short-term interest rates this week, that is the almost unanimous advice to individual investors from money managers and market strategists. Interest rates are going up, but unless inflation suddenly becomes a much more serious problem, they will do so only moderately, anal cysts say. As a result, the increases will probably not derail economic growth or corporate profits, which are soaring. And barring an unexpected shock like a terrorist attack or a big increase in oil prices, both the economy and the stock market appear reasonably healthy, they say. http://www.nytimes.com/2004/06/28/business/28invest.html Well, maybe you should worry a little: Families, Deep in Debt, Facing Pain of Growing Interest Rates By several measures, Americans are more indebted than ever. Through the first quarter, they owed nearly $9 trillion in home mortgages, car loans, credit card debt, home equity loans and other forms of personal borrowing ? accumulating nearly 40 percent of this total in just four years, according to published Federal Reserve data. But most of the debt is at fixed interest rates. Thus it will be unaffected initially as the central bank begins its much expected quarter-point increases in the so-called federal funds rate, now at a 46-year low of 1 percent. The federal funds rate, in turn, influences the interest rate cost of most household and commercial debt. http://www.nytimes.com/2004/06/28/business/28DEBT.html Looks like the Iraq handover applause rally will come a day early, before the post-FOMC meeting applause rally tommorow. After that, the bear will return! For new forum members, the Rules of Engagement: During trading hours, 9:30 AM to 4:00 PM eastern US time, please try to keep off-topic stories to a short size - or just provide a link to your discussion on LOB, Political Stool, whatever... Also please avoid negative comments about fellow posters. Make up your own mind about the credibility of various media sources linked here and do your own due diligence on individual stocks and trading techniques. If you don?t like someone?s views, skip to the next post! Tanks! Link to comment Share on other sites More sharing options...
trinharder Posted June 28, 2004 Report Share Posted June 28, 2004 So much controversy lately. I find it fascinating. 990N, a conspiracy theory? Probably rooted in fact. It is amazing how theories play such an important part of human life. Atomic theory has been both benefical and detrimental to society. The theory of evolution continues to spark heated debate. Watching Crapvision Europe this morning the topic of conversation was centered around the fed meeting. Bloomberg Asia last night, same thing. The world markets now await the decisions of the fed based on what? Economic theory. Wasn't it the Idiot Prince's father who coined the phrase voodoo economics? Games are being played on so many levels that will effect all our lives; we do indeed live in interesting times. Link to comment Share on other sites More sharing options...
purdymouth Posted June 28, 2004 Report Share Posted June 28, 2004 Surprise! Iraqi "Sovereignty" Handover Two Days Early http://www.sky.com/skynews/article/0,,30000-1140761,00.html So the bombings will stop? So the pipelines won't be attacked? So no more charred humvee video clips? So there won't be any more assassinations? So there won't be any more beheadings? So the troops can come home? So oil will flow like water out of Iraq to my car and home? So the Iraqis can participate in free and unfettered elections? etc. etc. etc. etc. etc. etc. etc. etc. Buy those promise tickets! Massive "unexpected meltup"! Buy! Buy! Buy! It's a new day in America. A day of freedom, liberty, justice and a job well done! Link to comment Share on other sites More sharing options...
GregFokker Posted June 28, 2004 Report Share Posted June 28, 2004 8:30am U.S. MAY CONSUMER SPENDING UP 1%, MOST SINCE 10/01 8:30am U.S. MAY PERSONAL INCOME UP 0.6% VS. 0.5% EXPECTED 8:30am U.S. MAY REAL CONSUMER SPENDING UP 0.4% 8:30am U.S. MAY REAL DISPOSABLE INCOMES FLAT 8:30am U.S. MAY PCE PRICE INDEX UP 0.5%, MOST IN 15 MONTHS 8:30am U.S. MAY PCE CORE PRICES UP 0.2%; 1.6% Y-O-Y Link to comment Share on other sites More sharing options...
Guest yobob1 Posted June 28, 2004 Report Share Posted June 28, 2004 Since I spent yesterday hiking into a lake at 9,000 feet, being eaten alive by very hunrgy mosquitos, and having my legs lacerated by some very unforgiving brush, I missed yesterday's fun on the weak-end thread, but I left a little dropping there this morning. Next weak-end let's discuss religion. Wal-Mart cuts their forecast. The sheeple are spent. WAG - the futures are lying about the resolution of today. PM's - something funny going on there. Platinum fore-telling or are we getting a disconnect? Bond markets are not nearly as enthusiastic about the Iraq hand-off as equities. Nor does forex seem to impressed. I think it's like giving the keys to the family car to the 10 year old of the family. It will be off the road in no time. Link to comment Share on other sites More sharing options...
Guest Posted June 28, 2004 Report Share Posted June 28, 2004 CECO up .53 on 480 shares Link to comment Share on other sites More sharing options...
HiHat Posted June 28, 2004 Report Share Posted June 28, 2004 the highest print i saw on globex this mourning was 1145.25 @ up 10.00 pts. Link to comment Share on other sites More sharing options...
Guest Posted June 28, 2004 Report Share Posted June 28, 2004 Just heard the gurst host of Sqwakbox ask one of the guests: "Do you actually believe the Fed's Inflation Numbers?" Holy Guacamole...I'll bet that one lit the bat phone up! Link to comment Share on other sites More sharing options...
Guest Posted June 28, 2004 Report Share Posted June 28, 2004 BIS weighs in....... Some rules change http://www.bloomberg.com/news/economy/economies.html Link to comment Share on other sites More sharing options...
Hiding Bear Posted June 28, 2004 Author Report Share Posted June 28, 2004 Wal-Mart cuts their forecast. The sheeple are spent. WAG - the futures are lying about the resolution of today. PM's - something funny going on there. Platinum fore-telling or are we getting a disconnect? Bond markets are not nearly as enthusiastic about the Iraq hand-off as equities. Nor does forex seem to impressed. I think it's like giving the keys to the family car to the 10 year old of the family. It will be off the road in no time. China-mart sales can not even keep up with inflation. Will anyone notice? Based on the latest economic statistics, on a per capita basis, personal income is barely keeping ahead of inflation. And we hear how the economy is strong and getting stronger every day. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted June 28, 2004 Report Share Posted June 28, 2004 8:30am U.S. MAY CONSUMER SPENDING UP 1%, MOST SINCE 10/018:30am U.S. MAY PERSONAL INCOME UP 0.6% VS. 0.5% EXPECTED 8:30am U.S. MAY REAL CONSUMER SPENDING UP 0.4% 8:30am U.S. MAY REAL DISPOSABLE INCOMES FLAT 8:30am U.S. MAY PCE PRICE INDEX UP 0.5%, MOST IN 15 MONTHS 8:30am U.S. MAY PCE CORE PRICES UP 0.2%; 1.6% Y-O-Y Not that this necessarily has anything to do with the direction of the market: When the spending figures are adjusted for inflation, consumer spending rose by a more modest 0.4 percent in May after being flat in April. With spending outpacing income growth, the nation's personal savings rate ? savings as a percentage of after-tax income ? dipped to 2.2 percent in May, from 2.6 percent in April. Source Link to comment Share on other sites More sharing options...
twignberries Posted June 28, 2004 Report Share Posted June 28, 2004 990N, a conspiracy theory? Probably rooted in fact. Which part? Is there a trading firm named Gelber that clears as 990N? - Yes - factual. Do they do a lot of volume in the S&P E-mni? - Yes, most likey, they do. Does their large volume move the market sometimes? - Probably. Do they collar the market, keeping bids and asks tight, and limiting volitility? - Maybe. Is it theFed, illegally crossing its own trades, creating artificial liquidity and moving the market with ease for the purpose of artificially inflating the markets for an extra year and re-electing Bush? - That is a big leap with the information we have. It is possible I suppose - crazier things have happened. But why would these supposed skilled perpetuators of fraud be so clumsy about it? Why not open two or three or ten accounts with different brokers for that matter and cross trades between them? Much more difficult to detect. Did they want to get caught? Is just doesn't add up. Link to comment Share on other sites More sharing options...
Guest Posted June 28, 2004 Report Share Posted June 28, 2004 POG bounced off 405. Humm Link to comment Share on other sites More sharing options...
rog Posted June 28, 2004 Report Share Posted June 28, 2004 APOL upgraded by BAC, short squeeze potential is high Link to comment Share on other sites More sharing options...
DrStool Posted June 28, 2004 Report Share Posted June 28, 2004 Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW!? Link to comment Share on other sites More sharing options...
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