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IDS World Markets Fri 17th August 07


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#31 try2win

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Posted 17 August 2007 - 08:20 AM

sweet

#32 try2win

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Posted 17 August 2007 - 08:21 AM

Fed cuts the discount.

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friggen awesome i can sell those longs i bought the last 2 days.

#33 Lemur

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Posted 17 August 2007 - 08:21 AM

There's still a lot of information out there about repurchase agreements aka repos.

Yes, the Fed does repos, but their corner of the repo market is INFINITESIMAL. If your mmf is holding repos DO NOT think for one second that these are obligations of the Fed. Any financial institution or entity, financial, non financial, or otherwise can do a repo. MMFs do trillions of repos. They aren't guaranteed by anyone. If your mmf lists a substantial amount of repos on its balance sheet, GET OUT NOW, that is if you still can. Wire the funds to as many FDIC insured accounts as you have up to the insurable limit, and the rest send to Treasury Direct and buy 4 week T bills, regardless of the fact that the rate sucks. This too shall pass.

I am not kidding.

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Doc- Despite Tokyo and the DAX weakness, US futures are looking perky here (just had a huge pop). I am unwater on my S&P short which is a worry. Whats your prognosis for today?

#34 I_Am_Madness

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Posted 17 August 2007 - 08:23 AM

ES DID A 50 POINT SPIKE UP!!

OH MY!
Stop the Madness

#35 Jetlag

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Posted 17 August 2007 - 08:24 AM

Dollah tanking, barbaric relic constrained.

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#36 DrStool

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Posted 17 August 2007 - 08:24 AM

The Discount Rate is a red herring. It's still way above the Fed Funds rate. It's a bandaid on a hemorrhage.

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#37 Lemur

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Posted 17 August 2007 - 08:24 AM

There's still a lot of information out there about repurchase agreements aka repos.

Yes, the Fed does repos, but their corner of the repo market is INFINITESIMAL. If your mmf is holding repos DO NOT think for one second that these are obligations of the Fed. Any financial institution or entity, financial, non financial, or otherwise can do a repo. MMFs do trillions of repos. They aren't guaranteed by anyone. If your mmf lists a substantial amount of repos on its balance sheet, GET OUT NOW, that is if you still can. Wire the funds to as many FDIC insured accounts as you have up to the insurable limit, and the rest send to Treasury Direct and buy 4 week T bills, regardless of the fact that the rate sucks. This too shall pass.

I am not kidding.

View Post



Doc- Despite Tokyo and the DAX weakness, US futures are looking perky here (just had a huge pop). I am unwater on my S&P short which is a worry. Whats your prognosis for today?

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Oh just saw the news from the Fed explaining the huge pop. But Doc, are you sticking with your prediction for a big sell off on the news?

Guess we will find out soon. Holding my nerve on the short for now.

#38 DrStool

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Posted 17 August 2007 - 08:24 AM

Once the idiots wake up to that fact, the market will come right back down.

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#39 DrStool

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Posted 17 August 2007 - 08:26 AM

The Fed Funds rate was 4.97 overnight. Cutting the discount rate is a mean, stupid, and futile gesture.

Irrelevant and meaningless at best.

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#40 I_Am_Madness

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Posted 17 August 2007 - 08:26 AM

Once the idiots wake up to that fact, the market will come right back down.

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Futures losing it now...
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#41 DrStool

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Posted 17 August 2007 - 08:30 AM

THE FED DID NOT CUT THE FED FUNDS TARGET!

The discount window is a little used facility for banks who can't get financing in the regular market.

If you're a bank, and your depositors are making a run at you, what the hell difference does it make whether you pay 6.25% or 5.75% when you just don't have the cash to pay them.

Meaningless gesture by the Fed with the intent of manipulating the market. In about 30 minutes a few smart cookies in the mainstream will be out there explaining this. And the smart cookies at the institutional trading desks know this very very well. They are getting out now while the getting is good.

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#42 patents

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Posted 17 August 2007 - 08:30 AM

Once the idiots wake up to that fact, the market will come right back down.

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Futures losing it now...

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Still no selling and they are showing strength beneath the market.

#43 I_Am_Madness

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Posted 17 August 2007 - 08:32 AM

Once the idiots wake up to that fact, the market will come right back down.

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Futures losing it now...

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Still no selling and they are showing strength beneath the market.

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Here come...
Stop the Madness

#44 Jetlag

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Posted 17 August 2007 - 08:33 AM

Frenchies going wild over this, Crac now up 3.2%

#45 patents

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Posted 17 August 2007 - 08:33 AM

Doc, I think you are putting too fine of a point on it. The market seems to take guidance from headlines, not thinking about facts.





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