IDS World Markets Wed 18th March 09
358 replies to this topic
Posted 17 March 2009 - 07:58 PM
Green so far but there is some weakness. All Ords +0.4% with an unusual leader, Utilities +1.8% followed by Consumer Discretionary +1.5%. At the other end, Gold is sinking, -2.5%, Miners -1.8% and Materials -1.4%.
Posted 18 March 2009 - 12:48 AM
Japanese Women Hunt for Husbands as Refuge From Deepening Slump
Women the Japanese call “marriage-hunters” are looking to tie the knot as companies from Toyota Motor Corp. to Sony Corp. fire thousands of workers and the nation heads for its biggest annual economic contraction since 1945. Marriages surged to a five-year high of 731,000 in 2008 as wages stagnated and the unemployment rate rose for the first time in six years.
The trend marks a reversal for women who put careers over families after Japan implemented equal labor rights 23 years ago. The number of marriages in the following decade slid 4.5 percent to an annual average of 746,000 compared with the decade before. Despite equal rights, women still make 43 percent less than men, giving them more reason to seek a partner during recessions.
Business is booming at Green, a marriage-hunting bar in Tokyo’s nightlife district of Roppongi. Men pay 11,340 yen ($115) per visit to have waiters set them up with women, who get in free. The bar is booked solid on weekends, and membership is up 26 percent this year, according to owner Yuta Honda.
Posted 18 March 2009 - 01:06 AM
Here is a follow up piece on Jon Stewart, the comedian who took Jim Cramer apart on TV.
Has a Comedian Just Saved America?
By PAM MARTENS
As testimony to how Orwellian life has become under the outrages of Wall Street hubris, last week saw a comedian, who poses as an anchor on a fake news show, grab the reins of the Wall Street investigation from the actual investigators in Congress.
Either Jon Stewart is the smartest man in America or he has incredible instincts. In a week’s time, he has zeroed in, like a heat-seeking missile, on the core of Wall Street’s malady. How insightful of Stewart, host of Comedy Central’s “The Daily Show,” to rationalize that the core of Wall Street’s corruption might well be the same core that it has drawn the darkest curtain around: trading.
Posted 18 March 2009 - 03:26 AM
All I have to say is I want to meet some chubby, gay bankers!
"Americans can always be counted on to do the right thing...after they have exhausted all other possibilities."
"You can fool some of the people all of the time."
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."
Posted 18 March 2009 - 03:47 AM
Down slightly for the day, however, I have the feeling that this could be a short term pullback. All Ords finished -0.2% led by Miners, -2.7%, Materials -2.4% and Healthcare -1.4%. Utilities retained the upside lead, +2.3% followed by Consumer Discretionary +1.8% and Financials +1.2%.
A sizeable drop for the big miners: RIO -8.7% after a downgrade and BHP -2.6%. Golds for the most part went south, Newcrest -2.3%, Newmont -4.7% and Lihir +1.6%.
Oils mixed: Woodside -1.2%, Santos +1.5% and Caltex +5.1%.
Green for Asia: China +0.2%, Honkers +1.8%, India +2.1% and Nikkers +1.6%.
Over to UK/Europe:
Posted 18 March 2009 - 04:15 AM
I have decided to publish a Bull Count (blue), so as to effectively kill whatever's left of this rally. In fact, if my preferred count (red) is right, we should be very very close to a top here. If my preferred count is wrong -- well, here's yer bull count.
This advance represents one of the more ambiguous counts I've seen in a while.
For everyone looking for 820: we could very well get it. But be aware that if we do, the bottom is most likely sealed for the time being.
Still favoring the bear case here, until proven otherwise. My preferred count says we still make new lows, possibly after a retrace and another bounce to marginal new highs.
In honor of the times, back to the 2008 signature:
"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday
Posted 18 March 2009 - 06:14 AM
China says no to uncle sugar.
"China rejected Coca-Cola Co.’s $2.3 billion bid for China Huiyuan Juice Group Ltd., saying the biggest foreign takeover of a Chinese company would have been “negative for competition” in the country’s drinks market. "
Since China has a big chunk of treasuries and uncle Sam has been handing out dollars like lollipops Coke would in some way be buying a chinese company with money provided by the chinese dollah recycling program,
Posted 18 March 2009 - 07:29 AM
NY Times had a series of articles last night on the AIG fiasco which suggested to me that the whole thing is about to come unraveled. Here's one. http://www.nytimes.c...bailout.html?hp
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Posted 18 March 2009 - 08:08 AM
Seinfeld Stock Rally Built on Empty Chatter
March 18 (Bloomberg) -- This may end up being the Seinfeld rally. After all, the stock market’s recent rise seems to be based on nothing, aside from empty chatter.
Over the past week or so, the president and his minions, members of Congress, and a host of bank chief executives have made a concerted effort to spin the market. The message has been clear: It’s time to get on board with Team America where the glasses and bank balance sheets are officially half full.
Posted 18 March 2009 - 08:43 AM
PARTY! NORTH KOREA! SATURDAY NIGHT! BYOF (bring your own food)
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