aussiebear Posted March 8, 2010 Report Posted March 8, 2010 A touch of red today. All Ords -0.3% with most sectors down. IT and Gold are sharing the downside lead, -0.9% with Miners/Materials next at -0.8%. There's several greens: Healthcare +0.4%, Consumer Discretionary +0.3% and Telecomms +0.2%. http://tradingroom.com.au/apps/index.ac
aussiebear Posted March 8, 2010 Author Report Posted March 8, 2010 http://finance.yahoo.com/intlindices?e=asia
aussiebear Posted March 8, 2010 Author Report Posted March 8, 2010 http://money.cnn.com/markets/morning_call/ http://www.kitco.com http://www.kitconet.com/webcharts/base_metals.html Energy futures
aussiebear Posted March 9, 2010 Author Report Posted March 9, 2010 All Ords swung into the green to close +0.2% and there was little movement in the sectors. On the plus side were Financials and Consumer Discretionary both +0.7% and Financials/Healthcare +0.6%. Doing the pullback were Materials -0.6% and Miners/Gold -0.5%. Mixed in Asia: China +0.7%, Honkers +0.2%, India and Nikkers -0.1%. On to UK/Europe: Footsie DAX CAC 40
aussiebear Posted March 9, 2010 Author Report Posted March 9, 2010 Australian Job Ads Climb Most in Decade Amid Surge in Optimism March 9 (Bloomberg) -- Australian advertisements for job vacancies jumped in February by the most in more than a decade and business confidence rose for a second month, increasing pressure on the central bank to continue raising interest rates. Jobs advertised in newspapers and on the Internet climbed 19.1 percent from January, according to an Australia & New Zealand Banking Group Ltd. report released today. ------------ Australia Business Confidence Climbs for Second Month March 9 (Bloomberg) -- Australian business confidence increased in February for a second month, adding to signs the economy is robust enough to weather higher interest rates. The confidence index gained 4 points to 19, matching November’s seven-year high, according to a National Australia Bank Ltd. survey of 580 companies between Feb. 22 and Feb. 26 released in Sydney today. The bank’s business conditions gauge, a measure of hiring, sales and profits, rose 5 points to 8.
aussiebear Posted March 9, 2010 Author Report Posted March 9, 2010 Credit Checks May Spell End for 3,000 Japanese Consumer Lenders March 9 (Bloomberg) -- Almost 3,000 Japanese consumer finance companies risk being shut out of the lending market by the end of June, according to data from credit-checking firms the government is employing to help police loan applications. Lenders must register with Credit Information Center Corp. or Japan Credit Information Reference Center Corp., a process that can take months to complete, to comply with stricter rules set to take effect by June 18. The credit-checking firms will help ensure that borrowers can’t use multiple lenders to rack up loans exceeding one-third of their annual income, as the government extends a crackdown on the industry that’s contributed to the closure of almost 10,000 consumer finance companies since March 2006. Japan’s Supreme Court ruled in January 2006 that standard loan contracts at consumer lenders were illegal and coercive. It invalidated agreements requiring borrowers to pay more than 20 percent interest, making lenders liable to repay more than $50 billion in overcharged interest.
Drano Posted March 9, 2010 Report Posted March 9, 2010 Aussie, I'm going to dranght in the jeck whenever I feel like it, I don't care what your sign says. And as far as how bears are exfoliated, I think this about covers it:
Jimbo Posted March 9, 2010 Report Posted March 9, 2010 GET YOUR POISON NOW - COCO_NUT BONDS I have been meaning to pontificate on Contingency Capital Bonds/notes/securities/whatever for some time now. They are vehicles which are as flawed as highly geared property trusts, mortgage trusts, auction rate securities, sub prime bonds, soverign debt, commondity funds and other things which promise more than they can deliver. What is the fatal flaw of Coco_nut bonds as I call them. The flaws lie in the peverse incentives that they give to the issuer. They encourage the bank that sells these bonds to engage in even greater loosening of lending standards - knowing that their shareholders will be protected from losses - by the very act of lending irresponsibly. I.e they are a form of CDS for shareholders and management - where these two groups can insure themselves against all the bad loans the banks will be making as they loosen lending standards. Therefore its almost inevitable that the experience for Coco_nut bond holders will be a negative AIG type one. They are really loose lending standard bonds or loan loss encouragement bonds - but they wont be named this.
fxfox Posted March 9, 2010 Report Posted March 9, 2010 Looking good for da bears. Futures nicely down. My stuff was quite overextended to the upside. My question would be: Is there a chance that a longer lasting top is in, or will this only be a short lived correction? I went short DAX this morning at 5881 after a monster doji in 10min chart (trading at 5839 right now, stop at even), this entry is so good that i would love to hold it for several hundred points down, but im simply not convinced yet that a longer lasting top is in. K-Wave, that link you posted yest said that DAX coud go down circa 20% over the next 5-6 weeks. That would mean something like 4700/4800. I would LOVE to hold for a 1000 pointer! DAX 10min
Drano Posted March 9, 2010 Report Posted March 9, 2010 Detroit joins the list of cities that are downsizing. Only what they want to do is bulldoze 25% of the houses in the city and turn it back to vacant land. Just like Doc said. http://news.yahoo.com/s/ap/20100308/ap_on_bi_ge/us_downsizing_detroit
Drano Posted March 9, 2010 Report Posted March 9, 2010 Deceptive stats. The claim is that 43% of people have less than 10K saved for retirement. This is nothing like the other statistics I have read. Lots of problems with this survey. For instance, we don't know about the ages of those polled. I wouldn't expect people in their 20s and 30s to have really started saving much for retirement, since many are still paying off student loans and also have young families to support, and we know that some people tapped their IRAs to try to save "their" houses when they were laid off. Also, they don't count defined benefit plans (like for instance all the government workers who genuinely don't need to save) and I bet a lot of people did not include their 401Ks. I'd be a lot more interested in knowing how many people 45 or older have little or no retirement savings. http://money.cnn.com/2010/03/09/pf/retirement_confidence/index.htm I posted this as a pre-emptive strike, knowing that someone else would post it if I didn't.
aussiebear Posted March 9, 2010 Author Report Posted March 9, 2010 Aussie, I'm going to dranght in the jeck whenever I feel like it, I don't care what your sign says. You go for it, Drano!
Lemur Posted March 9, 2010 Report Posted March 9, 2010 Ok took profits on GBPUSD short from yesterday. Also short silver from yesterday. Looking at short USDCAD here per SSI signal.
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