Peek Paper Posted August 25, 2007 Report Share Posted August 25, 2007 When does the Fed clarify that it is bending its "rules" just this one time and accepting ABCP from Coventree at the Discount window? 602949[/snapback] I dunno, but I can't even get change for a cup of coffee at my discount window. Link to comment Share on other sites More sharing options...
art_vandila Posted August 25, 2007 Report Share Posted August 25, 2007 fxfox:? having just emerged from my own private black hole, I see Doc's got the 4 yr cycle bottoming in 2006 (so yes, 2002 low, 2004 high, etc.).? I'd been looking for some technical 4 yr low confirmations which haven't yet occurred.? Would be very reluctant to fade Doc's cycle work, point is that I'm looking for a deeper pothole this fall than the one we saw last week. beardrech:? thanks.? No, health is fine;? and yup, you pretty much said it. 602977[/snapback] From my understanding the 2006 low's were not deep enough to be a 4 year cycle low, they didn't meet the average. Tim woods I know was looking for it, also Merriman as well is still looking for a late 4 yr cycle. Interesting that I heard that 1250 again. For now did a fib on the S&P 1485? the way this market is I think we have to allow for a stop check just above that. Oh and speaking of Merriman, lunar eclipse on the full moon the 28th, and a solar on 9/11. I didn't think it would make it this far, I jumped a few bullets too early. I'll just let that ride and try to let it top before adding any. Provided there is time to add that is. We could see a top monday Tuesday easy. 602989[/snapback] Did a vix too, comes in around 20-20.20 Link to comment Share on other sites More sharing options...
DrStool Posted August 25, 2007 Author Report Share Posted August 25, 2007 fxfox: having just emerged from my own private black hole, I see Doc's got the 4 yr cycle bottoming in 2006 (so yes, 2002 low, 2004 high, etc.). I'd been looking for some technical 4 yr low confirmations which haven't yet occurred. Would be very reluctant to fade Doc's cycle work, point is that I'm looking for a deeper pothole this fall than the one we saw last week. beardrech: thanks. No, health is fine; and yup, you pretty much said it. 602977[/snapback] Phat, it's great to see you back! If you are still a WSE Pro subscriber, check out the most recent long term update. The charts show unequivocally that June-July 2006 was a major cycle low. It was a little early but well within the historical norms for the nominal 4 year cycle. That's not opinion, it's a fact. That's when all the indicators with a periodicity set to reflect the 4 year cycle bottomed. By September they were breaking out topside. People are confused because of the diminished volatility, i.e. wave amplitude. But there's no confusion if you just look at the indicators. As far as what they are showing now, I can't say here. Don't want to give away the store. Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 25, 2007 Report Share Posted August 25, 2007 I know Doc isn't much of a believer in Volume....but this action is friggin' bearish thus far....jammed right into resistance... It is a 1000 points back down to test the lows..those of boolish persuasion hopefully have stops. Link to comment Share on other sites More sharing options...
wndysrf Posted August 25, 2007 Report Share Posted August 25, 2007 I'm currently riding some longs, gaming that nipple bottom. So far, so good. Link to comment Share on other sites More sharing options...
Captain's Log Posted August 25, 2007 Report Share Posted August 25, 2007 Media keeps the emphasis on "Subprime problem" instead of housing mega bubble, subprime was just the underclass buying in on the tulip mania. 602983[/snapback] Hush You'll wake the sheep up. Nothing to see here. Now move along. Squealer consoles the animals, saying, "Do not imagine, comrades, that leadership is a pleasure. On the contrary, it is a deep and heavy responsibility. No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?" Link to comment Share on other sites More sharing options...
wndysrf Posted August 25, 2007 Report Share Posted August 25, 2007 I added these today. Link to comment Share on other sites More sharing options...
cwd Posted August 25, 2007 Report Share Posted August 25, 2007 What is the difference when a bank can now borrow from the discount window and give ABCP as collateral. Knowing that alot of this crap has no known value. What is to stop the FED from just taking this paper at the end of 30 days and letting the bank keep the cash. I have never seen an audited financial statement from the Fed, regarding their full operations so their is nothing to stop the FED from doing this. This is how the game is evolving in my opinion. I very much agree with DOC. Eventually if the public sniffs or snuffs this out it is game over!!!! I have a feeling the public won't care until toilet paper costs $100 a roll. games continue or When reality sets in 602929[/snapback] The public won't know or care, but the people that count are the rich foreigners who thought they were buying AAA paper and are now realizing that they have been swindled. Some famous man said it was a bad idea to jack your creditors around. Link to comment Share on other sites More sharing options...
wndysrf Posted August 25, 2007 Report Share Posted August 25, 2007 I missed these..... Market is overbought, hope to grab them next week on a pullback. Link to comment Share on other sites More sharing options...
LeeWhee Posted August 25, 2007 Report Share Posted August 25, 2007 Wednesday had a huge reading on the open. Today, another super high reading on the open. Lots of eager bears. 602994[/snapback] The closing reading was 1.07. Pretty much neutral. Yesterday was 1.15. The CPC hasn't even gotten as high as it was in March. And the equity-only poot-call hasn't reached March levels or the levels it reached twice during the 2004 correction. C'mon, poot buyers! You ain't trying hard enough. Link to comment Share on other sites More sharing options...
cwd Posted August 25, 2007 Report Share Posted August 25, 2007 it's no wonder the panic selling & volatility stopped (as pointed out by crazy_ate earlier) Fed bends rules to help Citigroup An Aug. 20 letter from the Fed to Citigroup states that the Fed, which regulates large parts of the U.S. financial system, has agreed to exempt Citigroup from rules that effectively limit the amount of lending that its federally-insured bank can do with its brokerage affiliate. The exemption, which is temporary, means that Citigroup's Citibank entity can substantially increase funding to Citigroup Global Markets, its brokerage subsidiary. Citigroup requested the exemption, according to the letter. Fortune 602937[/snapback] This does a total injustice to the concept of "rules." 602943[/snapback] Rule 1, protect the fraudsters at all costs. I guess Bill Gross's message got through. Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 25, 2007 Report Share Posted August 25, 2007 Dumb Money still buying hand over fist, after a marked change in their behavior on this last "dip"....nowhere near the zero line usually seen a market lows...source Link to comment Share on other sites More sharing options...
lineup32 Posted August 25, 2007 Report Share Posted August 25, 2007 Condo Troubles Further Squeeze Property Lenders Full Force of Glut Is Felt As Buyers Back Out; 'More of the Iceberg' By ALEX FRANGOS August 25, 2007 For the nation's real-estate lenders, the other shoe may be about to drop: condominiums. Already plagued by rising home-loan defaults and foreclosures among overstretched consumers, major markets across the country -- including parts of Florida, California and Washington, D.C. -- are seeing rising foreclosures and bankruptcies of entire condo projects. http://online.wsj.com/article/SB118799900508008451.html Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 25, 2007 Report Share Posted August 25, 2007 3 up days in a row, coming off record lows. Looking good. 603003[/snapback] Just in case you really do believe that is a record low.... McClellan Summation readings at some major lows... October 1987 (-1,600) October 1990 (-1,500) October 1998 (-1,500) October 2002 (-1,500) Nice month that October, eh? Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 25, 2007 Report Share Posted August 25, 2007 Posted this last week....So far pretty much according to plan...we'll see if they can levitate for another week of low volume action... Link to comment Share on other sites More sharing options...
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