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B4 The Bell Humpday June 2


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#1 Hiding Bear

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Posted 02 June 2004 - 07:15 AM

:D Welcome to B4 the Bell! :D

Yesterday we had hyperinflationary moves in many commodities. Yet we still hear those business anal cysts in the media say this won't affect consumer spending, or that the GDP may slow 0.5% this year because of higher energy prices. You decide. The Fed may also be deciding if the economy can withstand the impact of the energy shock.

Good trading.

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#2 Madame Wrecked Him

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Posted 02 June 2004 - 07:22 AM

June 2 - The Mortgage Bankers Association (MBA) released today its Weekly Mortgage Applications Survey for the week ending May 28. The Market Composite Index of mortgage loan applications-a measure of mortgage loan applications for purchases and refinancings -decreased by 1.2 percent to 624.6 on a seasonally adjusted basis from 632.4 one week earlier.

On an unadjusted basis, the Index decreased by 1.5 percent compared with last week and was down 55.6 percent compared with the same week one year earlier.

http://www.mortgageb.../weekly_app.asp

#3 Madame Wrecked Him

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Posted 02 June 2004 - 07:27 AM

Mortgage Applications Rise in Week

NEW YORK (Reuters) - U.S. applications for mortgage loans to buy homes rose while refinancings trickled lower last week, an industry trade group said on Wednesday. The Mortgage Bankers Association said its purchase index, a measure of demand for loans to buy homes, rose 2.2 percent to 459.8 in the week ended May 28.

The MBA's refinancing index, a gauge of requests for mortgage loan refinancings, fell by 6.6 percent to 1,583.6 from 1694.9 in the prior week.

http://story.news.ya...my_mortgages_dc

Implosion countdown: While the overall level is not significantly changed, refi's have decisively broken Doc's trend line this week.

#4 DrStool

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Posted 02 June 2004 - 07:37 AM

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#5 DrStool

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Posted 02 June 2004 - 08:19 AM

Buyers Take ARMs, Prop Real Estate Mkt

Refi's Disappearing

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Posted 02 June 2004 - 08:48 AM

Year over year mortgage market comparisons seem relevant.

Refinance activity is DOWN 56% from year-ago levels, yet the following Mortgage related stocks are up during this same period as follows:

CFC: +78%
NCEN: +42%
MTG: +33%
PMI: +43%

When interviewed about 9 months ago, the CEO of CFC stated:

"Even if business is only half as good next year as its been this past year, we will still have the second best year in our company's history."

Wouldn't business need to be 78% better in order to justify a 78% higher stock price?

(not that "fair value" is relevant)

#7 Tchaikofsky

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Posted 02 June 2004 - 08:55 AM

Wouldn't business need to be 78% better in order to justify a 78% higher stock price?

Only if you're a gold or silver miner.

Or a base metal miner.

Or an oil driller.

If, however, you're in the internet or IT bizniz, and especially if you can sport a P/E of 50 to, say, 359.13, then your stock should be bought with both hands, as the direction of the market is up, has been for the last three weeks, and will continue to be so in perpetuity.

:huh:

#8

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Posted 02 June 2004 - 08:57 AM

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June 1, 2004, 10:35PM

Propane, gas thefts raise FBI concerns
By JOHN W. GONZALEZ
Copyright 2004 Houston ChronicleSan Antonio Bureau

SAN ANTONIO -- Hoping to rule out terrorism as a motive, the FBI and police Tuesday sought the public's help in finding two fully loaded propane trucks and 15 cylindrical gas tanks recently stolen in separate incidents.

The Ferrell gas propane trucks, missing several days, could be on their way to Mexico, where previously hijacked loads were taken. Disappearance of the gas tanks early Tuesday may have been sheer coincidence, but authorities said the theft escalated concerns about the missing trucks.

The trucks, parked inside a locked yard of a gas supply company in east San Antonio, disappeared between May 26 and Monday.

Thieves apparently tampered with other trucks on the lot whose propane tanks were empty. Together, the stolen trucks carried 5,600 gallons of propane, police said.

http://www.chron.com...politan/2604342

#9 wndysrf

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Posted 02 June 2004 - 09:06 AM

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June 1, 2004, 10:35PM

Propane, gas thefts raise FBI concerns
By JOHN W. GONZALEZ
Copyright 2004 Houston ChronicleSan Antonio Bureau

SAN ANTONIO -- Hoping to rule out terrorism as a motive, the FBI and police Tuesday sought the public's help in finding two fully loaded propane trucks and 15 cylindrical gas tanks recently stolen in separate incidents.

The Ferrell gas propane trucks, missing several days, could be on their way to Mexico, where previously hijacked loads were taken. Disappearance of the gas tanks early Tuesday may have been sheer coincidence, but authorities said the theft escalated concerns about the missing trucks.

The trucks, parked inside a locked yard of a gas supply company in east San Antonio, disappeared between May 26 and Monday.

Thieves apparently tampered with other trucks on the lot whose propane tanks were empty. Together, the stolen trucks carried 5,600 gallons of propane, police said.

http://www.chron.com...politan/2604342

A gas explosion??

Its all good.

That should push the Dow up another 300 points.

Just close your eyes and buy Internet Stocks.

No price high enough...............
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#10

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Posted 02 June 2004 - 09:15 AM

Printer-friendly format
June 1, 2004, 10:35PM

Propane, gas thefts raise FBI concerns
By JOHN W. GONZALEZ
Copyright 2004 Houston ChronicleSan Antonio Bureau

SAN ANTONIO -- Hoping to rule out terrorism as a motive, the FBI and police Tuesday sought the public's help in finding two fully loaded propane trucks and 15 cylindrical gas tanks recently stolen in separate incidents.

The Ferrell gas propane trucks, missing several days, could be on their way to Mexico, where previously hijacked loads were taken. Disappearance of the gas tanks early Tuesday may have been sheer coincidence, but authorities said the theft escalated concerns about the missing trucks.

The trucks, parked inside a locked yard of a gas supply company in east San Antonio, disappeared between May 26 and Monday.

Thieves apparently tampered with other trucks on the lot whose propane tanks were empty. Together, the stolen trucks carried 5,600 gallons of propane, police said.

http://www.chron.com...politan/2604342

A gas explosion??

Its all good.

That should push the Dow up another 300 points.

Just close your eyes and buy Internet Stocks.

No price high enough...............

Uh, aren't you the same guy who said last night that you expected the HHH to drop today...and suggested buying Internet stocks with both hands?

#11 Drano

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Posted 02 June 2004 - 09:16 AM

Hyper, this one's for you:

http://www.theage.co...6058919614.html

"Gloomy experts believe it is only a question of time before terrorists use a "dirty bomb," a device that would spew radioactive debris over a city, making parts of it uninhabitable for years, New Scientist says.

International Atomic Energy Agency (IAEA) records point to "a dramatic rise" in the smuggling of radiological substances, the raw material for this bomb, the British science weekly says in next Saturday's issue.

"In 1996, there were just eight of these incidents, but last year there were 51," the report says."
Of course I'm caustic!

#12 wndysrf

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Posted 02 June 2004 - 09:19 AM

Here come the Plutocrats, slamming silver.

In the meantime, why not 11 up days in a row on the HHH??

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Posted 02 June 2004 - 09:25 AM

Here come the Plutocrats, slamming silver.

In the meantime, why not 11 up days in a row on the HHH??

Why not indeed?

Yesterday's blatant smack down of metals in the face of a $2 oil spike was pure manipulation...until they could get on the BatPhone to OPEC and explain the rules of the game and who is ultimately in charge.

Today OPEC announces opening of all spigots full bore...and the result is the continuation of the metals smackdown started yesterday.

It's easy when you rule the World.

#14 brian4

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Posted 02 June 2004 - 09:28 AM

Morning Crew- 40 minute window opens at the Bell, , Helmets on, Buckle up-under 1127 ON A CLOSE-the direction is down ;)

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Posted 02 June 2004 - 09:29 AM

OPEC rolls out extra oil ahead of meeting
Wed 2 June, 2004 12:24


BEIRUT (Reuters) - OPEC's big guns have made a renewed bid to wrestle world oil prices lower by opening the taps wide even before a formal cartel decision on higher output limits.

The United Arab Emirates said on Wednesday it was immediately releasing an additional 400,000 barrels daily this month, complementing 700,000 bpd already on the way from Saudi Arabia.

The extra crude is being pumped irrespective of any formal decision by the Organisation of the Petroleum Exporting Countries on raising output quotas in Beirut on Thursday.

SAUDI SAYS SECURE

OPEC's efforts at containing the oil price spike were made more difficult by Saturday's deadly attack by Muslim militants against Western workers in the Saudi oil city Khobar.

"The paranoia about terrorism in the world threatening all the oil establishments in the world -- that's not true," Naimi said. "I tell you I am confident that facilities in Saudi Arabia are very, very secure and they are protected very strongly to prevent anything happening to them."

Saudi appears to have backing from most in OPEC to lift official supply quotas at the top end of a range under discussion, 2.5 million barrels daily or 11 percent.





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