Loading ...Equiz….20:19…..happy Thanksgiving to you too waaayy out on the Left Coast
….Yes….after our well timed SM Holiday..I expect the TSX to be up 1500 points soon after the open…..you want a Gap….you will THE MOTHER OF ALL GAPS !….anyone short the Index will be sick with the Vomitility !
….our other favorite index which has recenty slipped just a tad from 3300 to 950……the CDNX will be down 5% on the otherhand !
for some reason the post form bear chat was deleted last night
to me shooter’s proposal is the best suggestion i have hear
since this whole mess started…
my pea brain had thought of this several days ago
was please someone had come up with this plan
i think shooter is right… this is the only plan that would work
cheers
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this is a post by shooter on bear chat yesterday
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If they want to start to fix this mess…they need to dig into CDS market in a big way…and fast. CDS liabilities are a huge part of the freeze in lending between institutions. No one knows who is walking dead…so no one trusts anyone else. Here is a start: If they do not do something like this…then all else if futile. |
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FGC, I have noticed that you have some fascination with the new
interim Assistant Secretary of the Treasury for Financial Stability, Neel Kashkari. I have been waiting for a post from ment 17 to hear his views on the new asst. secretary, surname pronounced roughly as Cash and Carry. I figured that if ment grew up in an Abe Lincoln style home with a one-seater outhouse exposed to the winter elements in the Dakotas or Montana, his parents must have exposed him to the virtues of a ‘cash-and-carry’ form of daily money management (see link below). That’s why I kind of thought ment 17 would be on this posting board by now voicing his approval of having a high-level official, named Kashkari, being placed in charge of our fate. Best wishes. Equiz.
Apparently..today’s rally is the …
beginning of a bear market rally that will take us into November according to D W Dony. I have followed his models for three years with very good success. Remember to do your on DD.
In the September and October newsletters, I mentioned that the next major market low was expected in mid-October. Recent Market Minutes (October 2, 6 and 7) stated the trough can be anticipated within 1-2 weeks. Today’s closing rally numbers on U.S. equity markets coupled with strong volume signals the bounce has begun. This advance should last into November. Investors should still remember that this current upward movement is counter to the main downward trend which means that the duration and height is unknown and that the rally can falter at anytime.
Investment approach: As models continue to indicate that the current bear market has another 12-18 months of additional duration, this bounce will be used as a selling opportunity for the remaining commodity-based ETFs should prices advance up to a break even or near break even. Any securities sold will be placed into fixed income.
mgb nice on
perfect of picutre of hyprinflation
us treasure to invest in 9 major us banks
U.S. Treasury Said to Invest in Nine Major U.S. Banks (Update2)
By Robert Schmidt and Peter Cook
More Photos/Details
Oct. 13 (Bloomberg) — The Bush administration will announce a plan to rescue frozen credit markets that includes spending about half of a total of $250 billion for preferred shares of nine major banks, people briefed on the matter said.
The companies are Citigroup Inc., Wells Fargo & Co., JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs Group Inc., Morgan Stanley, State Street Corp., and Bank of New York Mellon Corp., the people said. One of the people also said Merrill Lynch & Co. will receive an investment.
The injections represent a new approach for Treasury Secretary Henry Paulson’s attempts to prevent a financial market meltdown from sending the U.S. economy into a prolonged recession. He’s following similar interventions by European leaders and using broad powers Congress gave him earlier this month to save the country’s banking system.
”They’ve decided they need to do something drastic and this is drastic,” said Gerard Cassidy, a bank analyst at RBC Capital Markets in Portland, Maine.
None of banks getting government money was given a choice about it, said one of the people familiar with the plans. All of the banks involved will have to submit to compensation restrictions, said the person.
The government will also guarantee the banks’ newly issued senior unsecured debt, making it easier for them to refinance their liabilities, the person said.
Allocating Money
The Treasury plans to spend $25 billion each for stakes in Citigroup and JPMorgan, people said. Another $25 billion will be divided between Bank of America and Merrill, which agreed last month to be acquired by Bank of America. Goldman and Morgan Stanley will each get $10 billion, while State Street and Bank of New York will get injections of about $3 billion each, people said.
Financial institutions are struggling to regain the confidence of investors, counterparties and clients after bad loans caused more than $635 billion of writedowns across the industry. Falling share prices have made it harder to raise equity while surging borrowing costs have made debt refinancing harder.
Paulson, Federal Reserve Chairman Ben S. Bernanke and FDIC Chairman Sheila Bair scheduled at 8:30 a.m. press conference tomorrow in Washington. Paulson’s initiative follows an announcement in Europe that France, Germany, Spain, the Netherlands and Austria committed $1.8 trillion to guarantee bank loans and take stakes in lenders.
The press conference at Treasury will address ”a series of comprehensive actions to strengthen public confidence in our financial institutions and restore functioning of our credit markets,” the department said in a e-mailed statement.
Chief executive officers of major U.S. banks met with Paulson to discuss the options for helping markets. Stocks in the U.S. earlier today rallied the most in seven decades, pushing the Standard & Poor’s 500 Index up 11.6 percent.
To contact the reporter on this story: Robert Schmidt in Washington at rschmidt5@bloomberg.net.
Last Updated: October 13, 2008 20:41 EDT
The Dow finished up 11.08%! Dead cat bounce?
Everything that’s going on isn’t doing my insommnia any good. I’m serious.
FGC. Happy Canadian Thanksgiving to you.
I just bumped into my neighbor on the street where we live and he said he has figured our how he is going to vote in tomorrow’s national election. In the conversation he mentioned that the indexes on several of the world’s stock exchanges were up today. I found that a novelty, given what has happened globally over the past 10 days. If I can believe him that there was an uptick in the international markets that were up today, can I assume that the Toronto Stock Exchange index will also be up tomorrow morning after we finish our Thansgiving time-out? Your opinions on matters like this are alwys valued. Cheers. Equiz.