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B4 The Bell Tuezelday August 24


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#61 Butterfield 8

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Posted 24 August 2004 - 10:25 AM

According to Chuck Butler at Everbank: Each rise of 1$/bbl in oil raises demand for US $ by 98 billion $/ year.

#62 Drano

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Posted 24 August 2004 - 10:27 AM

*DJ Fed Accepts $6.50 Billion Overnight System RP's

Tanks.

The Fed took out $1.75B in repos after adding $5.25 yesterday. Ignoring day to day movements, the Fed is still sticking to the upper range of its probable monetary base growth target - or in other words it is worried but not real worried yet.

Not to worry. SBUX opened two new stores in Turkey, so the world economy must be just fine.

Opening coffee shops in Turkey? Who will open the coal shops in Newcastle? Or sell snow to the Eskimos?

Naturally SBUX is up on the news.
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Posted 24 August 2004 - 10:29 AM

This market is so cooked. No buyers except CB central planners and matrix operatives. They are being forced to buy all the junk and crap themselves -- I love it.

#64 Drano

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Posted 24 August 2004 - 10:30 AM

Option ex on silver on Friday could explain the beating they are laying on the metal.

Thanks for the reminder. I'll wait a while to add to my CEF position (they are half gold, half silver. Everyone thinks of them just as a gold fund.)
Of course I'm caustic!

#65 Lock Limit Down

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Posted 24 August 2004 - 10:35 AM

This would be a great day to see oil and the market fall in unison
Thats what I see coming.

Nice call B4

Spoos gap closed
Posted Image
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#66 Lock Limit Down

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Posted 24 August 2004 - 10:36 AM

HGX negative
Bravo
Posted Image
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#67 machinehead

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Posted 24 August 2004 - 10:38 AM

The Beaumont Enterprise reported -- as of yesterday -- that the fire is still burning at the Moss Bluff natgas storage facility:

The Eternal Flame

Did you ever do an experiment in science class, where you fill up a matching set of bronze hemispheres with steam, stick 'em together, and let them cool to room temp? After the steam condenses inside, the resulting vacuum is so strong you can't pull them apart.

There's a theory that when the hot gas in the Moss Bluff cavern finally cools and condenses, it may suck in the walls of the salt dome and collapse two neighboring salt domes.

Natgas fiddles while Moss Bluff burns ... :o
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

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#68 brian4

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Posted 24 August 2004 - 10:40 AM

Gurgle is going ...Gurgle! ;) ..say it ain't so!

#69 soup

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Posted 24 August 2004 - 10:40 AM

Listen to this, from todays wsj: the argument of the bulls ( home builders) claim that the home building sector has, through, more careful inventory management, finally pulled itself free of the sysle of boom and bust that has plauged it in the past. ( Slight paraphrased to shorten length.) This is one Common element of all bubbles, the false belief that the natural cycles have been eradicated. I respond with an unmitigated BULLSHIT! I grow more bearish by the day.
""Pretty bubbleheads preen daily on our financial networks, playing the shill to Wall Street and Washington in order to lure unsuspecting Americans into buying insanely overvalued stocks. The great market exchanges, once prudent arenas of investment where the engine of capitalism traded value for value, have become sham casinos staggering under decades of massive Fed created debt and lurching into oblivion on the greater fool theory. Yet our high level bureaucrats, led by Alan Greenspan, exhort all Americans to consume still more of their seed corn and seek still more fools." N. Hultberg

#70 soup

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Posted 24 August 2004 - 10:41 AM

Or in other words the bullish shills think they can have the boom but eleminate the bust. Such hubris! Such delusional thinking!
""Pretty bubbleheads preen daily on our financial networks, playing the shill to Wall Street and Washington in order to lure unsuspecting Americans into buying insanely overvalued stocks. The great market exchanges, once prudent arenas of investment where the engine of capitalism traded value for value, have become sham casinos staggering under decades of massive Fed created debt and lurching into oblivion on the greater fool theory. Yet our high level bureaucrats, led by Alan Greenspan, exhort all Americans to consume still more of their seed corn and seek still more fools." N. Hultberg

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Posted 24 August 2004 - 10:43 AM

Do you think existing housing sales may signal future problems for home builders? I don't know, but with record high building starts and permits, they could be left hanging. should today's decline be the beginning of a trend.... Of course its too early to know....

The run-up in prices for cement and lumber will hamper builders.

#72 zensmoke

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Posted 24 August 2004 - 10:46 AM

Strange...

QQV 20.79
VXN 22.48
VIX 15.80
VXO 15.69

#73 Mars

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Posted 24 August 2004 - 10:53 AM

Are there really any lower forms of life than the natl assn of realtors?

The American Bar Association comes to mind.

#74 zensmoke

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Posted 24 August 2004 - 10:54 AM

DJ Iran Says It Is Producing Nuclear Defense Equipment

TEHRAN (AP)--Iran said Tuesday it was producing nuclear defense equipment to protect its citizens in case of any possible attack on its nuclear facilities, local media reported Tuesday.

Defense Minister Ali Shamkhani said U.S. sanctions have forced Iran to seek self-sufficiency in order to meet all its defense requirements, the government-owned Persian daily Iran reported.

"Iran has produced nuclear defense equipment," Iran quoted Shamkhani as saying.

"If our nuclear power plants are targeted, there will be radioactive releases. You need special equipment to control it. Also, some countries in our neighborhood have achieved nuclear technology. We have to be prepared if there is an accident there," Shamkhani was quoted as saying.
Story from Dow Jones Newswires

#75 HiHat

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Posted 24 August 2004 - 10:56 AM

Congress





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