Greg's Market Blog (April 2005)

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21APR05 Thursday Share Prices
G-$10.82 F-$10.47 C-$12.42 S-$13.96 I-$15.27
F-fund down 0.196%, C-fund up 1.97%, S-fund up 1.74%, I-fund up 0.527%
The EAFE Fund was listed as going up 1.81%; I am going to stop short-term trading of the Ifund because off this price uncertainty.
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One week ago Thur 14th on the 3rd straight down day, the S&P 500closed at 1162. Here a week later we closed at 1159. This is no rally.

 

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Why Market Skeptics See a Huge Opportunity
By Jon D. Markman
RealMoney.com Contributor
4/21/2005 7:23 AM EDT

The stock market is stumbling ....

Edited.

 

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Well, it’s been a quiet week in Lake Woebegon my hometown. Where the women are strong, the men are good-looking, and the children are all above average.

Last Friday (the 15[suP]th[/suP]), the S&P500 closed at 1,142.62. Today it closed at 1,152.12 for a gain of 0.83% for the week. This must be the rally that the bulls have been saying was just around the corner. Hopefully, they will now declare victory and change to 100% G-fund before it’s too late.

 

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22APR05 Friday Share Prices
G-$10.82 F-$10.49 C-$12.34 S-$13.81 I-$15.32
F-fundup 0.19%, C-fund down 0.64%, S-funddown 1.07%, I-fund up 0.33%
The EAFE Fund was listed as goingDOWN 0.33% today;I just don'tunderstand this unless there isa 24 hour delay in determining the I-fund share price.
At 2 PM the S&P dropped 14 points in the next 1.5 hour. This looked like a free-fall.

Have a good weekend!

 

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Mmmm...G-Fund!

 

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U.S. stocks slip as S&P cuts GM, Ford debt to junk
Thu May 5, 2005 05:50 PM ET
By Megan Davies

NEW YORK, May 5 (Reuters) - U.S. stocks ended lower on Thursday, as a downgrade of General Motors and Ford debt to junk status dealt a blow to major automakers and companies that supply them.

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Hedge funds get Greenspan warning on leverage
Thu May 5, 2005 07:52 PM ET

BOSTON, May 5 (Reuters) - The hedge fund industry, which often relies on borrowed money, received a pointed warning from Federal Reserve Chairman Alan Greenspan on Thursday to play responsibly to help protect market liquidity.
For months, market analysts, economists and others have been concerned that a disaster might be brewing in the $1 trillion hedge fund industry as managers borrowed money when it was cheap and now are being squeezed as interest rates rise.

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Hedge funds lose money again in April -- S&P
Thu May 5, 2005 05:20 PM ET

BOSTON, May 5 (Reuters) - Hedge funds lost money in April for the second straight month as managers faced softer equity markets around the world, Standard & Poor's said on Thursday.

Last month, the S&P Hedge Fund Index slipped 0.85 percent with all of the component indexes posting losses, according to data released by the New York-based investment ratings, research and indexes company.

In March, the index slipped 0.55 percent after notching a small gain in February. It lost ground in January.

 

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S&P 500 dropped1.07%today putting it back to almost where it was a week ago.
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US stocks drop on fund rumors, Cisco up after bell

Tue May 10, 2005 05:52 PM ET
By Mark McSherry
NEW YORK, May 10 (Reuters) - U.S. stocks finished sharply lower on Tuesday, driving the blue-chip Dow average and the broader Standard & Poor's 500 index down about 1 percent, on rumors about potentially large hedge fund losses.

The U.S.-listed stock of Deutsche Bank (DBKGn.DE: Quote, Profile, Research) (DB.N: Quote, Profile, Research) slid 3.3 percent to $79.58 after speculation about investment banking losses, possibly in connection with a hedge fund.

"We are hearing some rumors that there could potentially be some hedge funds that are overinvested in General Motors bonds," said Jim Fehrenbach, head of Nasdaq trading at Piper Jaffray in Minneapolis. He added that there was "nervousness about how it might affect the market."

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US stocks fall amid oil spike, hedge fund concerns
Tue May 10, 2005 02:00 PM ET
By Mark McSherry

NEW YORK, May 10 (Reuters) - U.S. stocks fell on Tuesday amid a rise in crude oil prices above $52 a barrel and market talk of possible large losses at a hedge fund.
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Real wages fall at fastest rate in 14 years
By Christopher Swann in Washington
Published: May 10 2005 17:59 | Last updated: May 10 2005 17:59

Real wages in the US are falling at their fastest rate in 14 years, according to data surveyed by the Financial Times.

Inflation rose 3.1 per cent in the year to March but salaries climbed just 2.4 per cent, according to the Employment Cost Index. In the final three months of 2004, real wages fell by 0.9 per cent.

The last time salaries fell this steeply was at the start of 1991, when real wages declined by 1.1 per cent.

 

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Implausible, inconceivable, unbelievable, unconvincing, unimaginable, unthinkable, doubtful, dubious, far-fetched, fishy, flimsy, questionable, suspect, unlikely, unreasonable, absurd, outlandish, preposterous, ridiculous, indefensible, insupportable, untenable.

 

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Rally continues?

 

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Going down?