350zCommtech's Account Talk

[350zCommTech]

I see a good chance for a bounce in the USM tomorrow. Unfortunately, I'm out of IFTs. Tracy Ray, I hate you!

It's looking good for tomorrow. The Yen is stabilizing while the markets are hitting the lows. That's bullish.

This selling is overdone.

Gold up $65? You can thank Ben and Hank for that.

 

[Christopher]

It's looking good for tomorrow...bullish.

This selling is overdone.

I agree, USMs down over 2% most of the day, now 3+% before the bell. Praying for a nice POP for a couple of days beginning tomorrow - been floating on the lily pad for over six weeks now, and I really needed to stretch the frog legs a bit, so I went 50G, 30C, 20S @ 11:55am.

Cheers to you and yours, 350z...

 

[350zCommTech]

I agree, USMs down over 2% most of the day, now 3+% before the bell. Praying for a nice POP for a couple of days beginning tomorrow - been floating on the lily pad for over six weeks now, and I really needed to stretch the frog legs a bit, so I went 50G, 30C, 20S @ 11:55am.

Cheers to you and yours, 350z...

Good luck Christopher.

 

[350zCommTech]

It's looking good for tomorrow. The Yen is stabilizing while the markets are hitting the lows. That's bullish.

This selling is overdone.

Gold up $65? You can thank Ben and Hank for that.

Central banks aim to boost liquidity

Fed provides additional $180 billion for short-term dollar auctions

By William L. Watts, MarketWatch
Last update: 7:40 a.m. EDT Sept. 18, 2008

LONDON (MarketWatch) -- The world's biggest central banks moved Thursday to inject massive amounts of liquidity into the financial system in a bid to alleviate extreme distress in short-term, dollar-denominated money markets.

The Fed, in a statement, said it would use swap lines to provide other central banks with an additional $180 billion, which can be injected into money markets through overnight and term loans.
"I think this is recognition that the time for subtlety is past," said Russell Jones, head of fixed income and currency strategy research at RBC Capital Markets.
The move will allow the European Central Bank to auction as much as $110 billion in one-day and other short-term dollar loans to commercial banks in the 15-nation euro zone, up from its current level of $50 billion. The amount available through the Swiss National Bank was increased to $27 billion, a rise of $15 billion.
The Fed also authorized new swap facilities that will enable the Bank of Japan to provide $60 billion in dollar liquidity, $40 billion by the Bank of England and $10 billion by the Bank of Canada........http://www.marketwatch.com/news/story/central-banks-flood-credit-markets/story.aspx?guid={94F2A55B-5E97-4445-89EA-3E10D4B7D733}&dist=TNMostRead

Why don't they just leave the markets to bounce on their own?

Idiots. This is not a liquidity problem. Traders will short this rally.

 

[350zCommTech]

While the markets are up big, GS and MS are down significantly. Perhaps it's a hint.

 

[350zCommTech]

While the markets are up big, GS and MS are down significantly. Perhaps it's a hint.

Nasdaq futures turn red. The Feds are clueless.

 

[350zCommTech]

The short sell ban in the UK got me so pissed off, I bought SDS @ $76.36.

 

[Steadygain]

The Feds are clueless.

Last night the Chief Market Analysist said, "It's like the wheel on the bus blew a hole and they are trying to patch it while the bus is still moving down the road".

It's not that they are clueless - it's they don't have time to let the bus stop and take care of the situation more adequately. All they can do at this point is make sure "the domino effect" doesn't topple numerous other banks.

 

[350zCommTech]

The short sell ban in the UK got me so pissed off, I bought SDS @ $76.36.

Wow! What happened to the market. I leave the house and now it's up big. Good thing I sold at $78.17.

 

[Birchtree]

RTC type solution in the works for the debts on the books.

 

[RPM]

It seems like I blink, and something big happened. Anyone knows of any news? Can't just be short covering before the rules go into effect EOB today :suspicious:

Wow! What happened to the market. I leave the house and now it's up big. Good thing I sold at $78.17.

 

[Silverbird]

Yahoo Finance Says:

3:05 pm : The stock market surges near session highs as a CNBC reporter says the government may be planning to solve the current financial turmoil using a method similar to the 1980s savings and loan crisis.

CNBC's Gasparino reports his Wall Street sources say that Treasury Secretary Paulson is talking about a Resolution Trust Corporation-type solution to the current crisis. The RTC was created during the savings and loan crisis of the 80s.

Financials as a whole are providing leadership with a 6.3% gain. Diversified banks (+10.4%) and thrifts & mortgage (+7.9%) stocks are rallying, although there is weakness in investment banks (-10.0%) and asset management (-13.8%) firms.

The consolidation of financial firms and government intervention is not happening just in the United States. U.K. banking giant Lloyds TSB Group (LYG 21.03, +1.92) announced this morning that it is acquiring struggling U.K. mortgage lender HBOS in an all-stock deal valued at 12.2 billion pounds ($22.2 billion). The U.K. government brokered the deal, and is overriding anti-monopoly regulations, according to reports.....

 

[350zCommTech]

Thanks Silver,

This is going to make every chart look good. Bottoms everywhere. Wall Street is saved! And here I am stuck in the G with no IFT.:nuts:

 

[Birchtree]

Don't cry for you Argentina.

 

[350zCommTech]

Don't cry for you Argentina.

Me cry? Heck no. I can wait till October, I think....


Btw, did you ever cut your loses on AIG? You know their done, right? This RTC won't help AIG.

 

[Birchtree]

I still own my AIG position and will most likely add to further pain tomorrow - I'm in a situation where I can always welcome a tax loss write off to off set some of my previous gains so the risk is worth the try. I also bought some more of one of your favorites today - ABK. Yes they are still alive and kicking.

 

[nsurf9]

350z, you got to love the TSP Board and their esteemed advisors.

I've suffered huge 1-week losses on top of earlier losses to save and IFT. Now, the question is what will that IFT be worth to you and those without and IFT. Hopefully, it will even out.

The bitter pill is, several of us on this board could have easily have netted 8%-10% out of this volitility with just 2 more IFT's in a week and half.

Oh, yea, the TSP fund managers get to save some chump change in costs.

 

[Birchtree]

TSP was designed to be a fiduciary account and not a trading account. The majority of TSP membership are of the buy and hold type. If anyone wants more adrenalin there are many options in the open market - that's why I have two accounts. I would be bored to death if all I had was my tugboat. Tomorrow has the potential to be very rauous. I'll take the big V rally.

 

[350zCommTech]

350z, you got to love the TSP Board and their esteemed advisors.

Oh, I love Tracy Ray.

I would love to hammer her between the eyes with a 3 iron.

 

[350zCommTech]

TSP was designed to be a fiduciary account and not a trading account. The majority of TSP membership are of the buy and hold type.

And How is that working out for you this year?

Down 20%?

Please, don't bring that "buy and hold" garbage in my thread.