12%ayear's Account Talk

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12%ayear said:
I would not be surprised to see the FED cut today. Just a gut feeling though. The reports coming out are all saying 100% of a Interest Cut . Love this bullshit. Also, I am going on my gut here, I bet we close up triple digits today..call me crazy!!!http://www.cnbc.com/id/20195270
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I'm new to this Fed strategy of adding money to the banking sector on Thursdays. Where does that 24 billion exactly go? How do they decide the extra 9 billion, and how monumental is that upside surprise? Is that what cause this AM's spike? People following the money?
 
12%,

Trying to understand your move to the I fund. If our markets go green this afternoon, will this bring a +FV for today and a possible -FV for Friday? Thanks in Advance.
 
DAWG51 said:
12%,

Trying to understand your move to the I fund. If our markets go green this afternoon, will this bring a +FV for today and a possible -FV for Friday? Thanks in Advance.
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I think that a -fv would still have the I Fund up enough to net us a profit Friday. I understand your point. Right now it is down 31 cents. I still might change my mind. 45 min. left
 
I am going to the F Fund. I need to sideline for a day or two. Been fully invested since 7-26. I have a feeling that OSMs will sell-off even if the USMs rally this afternoon. It is very possible more banks come out in Europe since one did last night. I will wait and lock profits.However;I still think we will rally in the USMs today!! GL..sorry about changing my mind 2 days in a row.Part of doing business, you have to be able to change in a drop of a hat.
 
wow!! what a day. This is going to spill over to EUROPE again. There is a rumor of a German Bank annoucing sub-prime problems tonight. I think I am going to weigh this mess out. At this rate, you might see 10,000 before it is all over.
 
fabijo said:
Well, let's hope it doesn't stay at this rate too long, then!
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It seems like the more I read, the more I want to be on the sidelines. We can easily see that 10,000 by years end. Don't laugh.
 
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Bring it on and let's get the wash out. I'm secure in my bunker and the door is locked just in case my neighbors want relief. I'm still positive for a Dow of 15,600 by the end of the year, which means I need to buckle up and hang on to my cheeks. Snort.
 
Just in VEry bad news

http://online.wsj.com/article/SB118670096225293580.html?mod=googlenews_wsj
Countrywide Hit by Credit Market Woes

By JAMES R. HAGERTY
August 9, 2007 7:16 p.m.

Countrywide Financial Corp. faces "unprecedented disruptions" in debt and mortgage-finance markets that could hurt earnings and the company's financial condition, the Calabasas, Calif., lender said in a regulatory filing.
The company, the largest U.S. home mortgage lender in terms of loan volume, said reduced demand from investors is prompting it to retain more of its loans rather than selling them. The company also has been shoring up its finances. "While we believe we have adequate funding liquidity," it said in a quarterly filing with the Securities and Exchange Commission, "the situation is rapidly evolving and the impact on the company is unknown."
Payments were at least 30 days late on about 20% of "nonprime" mortgages serviced by Countrywide as of June 30, up from 14% a year earlier. Nonprime includes loans to people with weak credit records and high debt in relation to their income, as well as to people who don't document their income or assets. On prime home equity loans, the delinquency rate was 3.7%, up from 1.5% a year before. For all loans, the rate was 5%, up from 3.9%.
In a sign of the growing difficulty in selling loans, Countrywide said that it transferred $1 billion of nonprime mortgages from its "held for sale" category to "held for investment" in the first half. Countrywide marked the value of those loans down to $800 million. It also decided to retain as investments, rather than sell, $700 million of prime home equity loans, marking them down to $600 million. Countrywide has said many of those home equity loans were second-lien mortgages used by people who put little or no money down in buying a house
 
Birchtree said:
Bring it on and let's get the wash out. I'm secure in my bunker and the door is locked just in case my neighbors want relief. I'm still positive for a Dow of 15,600 by the end of the year, which means I need to buckle up and hang on to my cheeks. Snort.
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Hang on to your cheeks yes, but don't go spreading them thar cheeks now. LOL
 
CountryWide will kill the markets today!!!You might see the 12900s today.I see the Fed doing something next week.Going to the C Fund for a bounce Monday. Banks do not trust each other, this is a very bad sign. The Fed will have to try to ease the pain. Watch for next week action. They rather not get involved, but might have to.
 
Just in

The FED adds more reserves to system, 2nd time today!!!Tells me they are worried and trying different measures before being forced to cut. This weekend , every brokerage house will be calling him for help. Next move there will have to be a cut!!;)
 
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