Market Talk / July 9 - 15

[Wizard]

Not Bubba Gump hamburgers? Those rock.

 

[Wizard]

WASHINGTON (MarketWatch) -- Consumers took on a bigger-than-expected $4.4 billion more in debt in May, the Federal Reserve said, mostly in revolving debt like credit cards. U.S. borrowers pushed up overall outstanding consumer credit by 2.4%, or $4.4 billion, to $2.173 trillion, the Fed said Monday. Credit cards and other forms of revolving debt jacked up the overall number. U.S. consumers added $6.7 billion in revolving debt in May, up 10% from the prior month to a total of $812 billion. Nonrevolving debt like automobile loans, meanwhile, fell by 2%, or $2.2 billion, to $1.36 trillion.

http://www.marketwatch.com/News/Stor...&siteid=google

$3.533T in credit card/loan debt. :blink:

Throw mortgage debt into the mix and you are talking a hunk of change.

 

[robo]

Not Bubba Gump hamburgers? Those rock.

Jenny likes her Hamburgers!

http://www.bubbagump.com/


http://www.bubbagump.com/html/menu-appetizers.html

 

[Wizard]

Why is this thread making me hungry?

 

[Fivetears]

Market Update: 09:00 am: S&P futures vs fair value: -0.7. Nasdaq futures vs fair value: -3.2. Still shaping up to be a sluggish start for the indices as oil prices back above $74 per barrel add to an already cautious tone. Crude oil futures have recently hit morning highs after Iran's president reportedly said they are determined to complete its enrichment of uranium, which could result in crucial supply disruptions and keep energy prices elevated -- a concern addressed by the Fed that has the potential to sustain inflation pressures.

 

[Fivetears]

Stocks fall on Alcoa revenue, Lucent warning
Tuesday July 11, 9:42 am ET
NEW YORK (Reuters) - U.S. stocks opened lower on Tuesday after a disappointing revenue report by bellwether Alcoa Inc. and a profit warning by communications gear maker Lucent Technologies Inc. dimmed the outlook for corporate profits.
http://biz.yahoo.com/rb/060711/markets_stocks.html?.v=5

 

[Fivetears]

Breaking News: SIX EXPLOSIONS HIT INDIA TRAIN STATIONS DURING RUSH HOUR.

 

[Fivetears]

Make that seven.
BOMBAY, India — Seven explosions hit Bombay's commuter rail network during rush hour Tuesday evening, ripping apart train compartments and reportedly injuring dozens of people, police, railway personnel and Indian media said. Indian television news channels broadcast video of the wounded sprawled on train tracks and being carried through stations.
http://www.foxnews.com/story/0,2933,202920,00.html

 

[The_Technician]

Sell off seems to have continued yesterdays action and taken hold this morning....:worried:

 

[JOVARN]

ANY TAKERS ON HOW THIS MAY IMPACT THE MARKET AND THE DOLLAR SPREAD WILL BE IMPACTED??

Mitsumaru Kumagai, chief JGB strategist at Merrill Lynch, said that if the BOJ raises interest rates this week as expected, the central bank may initially try to cool market expectations about the possible pace of subsequent rate rises.

But any reprieve for JGBs may turn out to be short-lived.

"Once the market calms down ... I think the chances are high that the BOJ will try to get the market to factor in additional rate rises. I think the market senses the BOJ's aim, at least to some extent," Kumagai said.

http://asia.news.yahoo.com/060710/3/2mybq.html

 

[Birchtree]

Could be a retest of Dow 11,000 - probably a fake out. You know I'm holding tight. Earnings will be supportive.

 

[Wizard]

Could be a retest of Dow 11,000 - probably a fake out. You know I'm holding tight. Earnings will be supportive.

The trend is your friend or worse enemy.

Lower highs and lower lows.

Just doing what the chart says it was going to do. :embarrest:

 

[Pilgrim]

ANY TAKERS ON HOW THIS MAY IMPACT THE MARKET AND THE DOLLAR SPREAD WILL BE IMPACTED??

Mitsumaru Kumagai, chief JGB strategist at Merrill Lynch, said that if the BOJ raises interest rates this week as expected, the central bank may initially try to cool market expectations about the possible pace of subsequent rate rises.

But any reprieve for JGBs may turn out to be short-lived.

"Once the market calms down ... I think the chances are high that the BOJ will try to get the market to factor in additional rate rises. I think the market senses the BOJ's aim, at least to some extent," Kumagai said.

http://asia.news.yahoo.com/060710/3/2mybq.html

The only thing I have seen is that it will be supportive of the Yen, i.e. drive the dollar down faster against the Yen. Obvious implications for I fund. Question is what will it do to the Nikkei.

 

[Wizard]

The only thing I have seen is that it will be supportive of the Yen, i.e. drive the dollar down faster against the Yen. Obvious implications for I fund. Question is what will it do to the Nikkei.

This would increase the cost of margin loans - which will force them to sell stock. They are up to their eye balls in margin debt.:embarrest:

 

[Pilgrim]

Chief technical analysts at MarketWatch is sounding a warning:

THE TECHNICAL INDICATOR
S&P 500 faces major technical test

For two straight sessions, the S&P 500 has survived a major technical test. Both Friday and Monday, it bottomed within a point of its 200-day moving average, suggesting the index continues to attract buyers after the steep rally from the June lows.

S&P 500 support at its 200-day moving average, currently 1,263

the S&P is still testing a major technical level. Conventionally, a posture above the 200-day signals a long-term uptrend while a posture below the 200-day indicates a long-term downtrend. If for some reason, the S&P would break decisively under its 200-day the way the Nasdaq just violated the 2,150 area - even if the breakdown occurs on light volume - it may be time to adopt a more cautious market view.

http://www.marketwatch.com/news/story/Story.aspx?guid={4F5A0114-34C7-43BD-BA54-91C0A49B626A}&siteid=

 

[JOVARN]

So should buy bad news be on the menu for today??


If only we new

 

[Fivetears]

Breaking News: India Reports Arrests Of Islamic Terrorists In Deadly Train Bombings

 

[tsptalk]

This is going to sound like a permabull talking, but it is just an FYI:

The market bottomed the day of the London train bombing July 7, 2005. That rally lasted three weeks before another leg down began.

 

[Spaf]

So should buy bad news be on the menu for today??
If only we new

The account postings seem to be splitting between capitulation and hope!
Something has got to give!

http://stockcharts.com/charts/indices/McSumNYSE.html

The indicators are coiled to go either way, it's now up to the fundamentals, and how the market sees the economy..............:blink:

 

[tsptalk]

I like that 1260 held so far on the S&P 500. More precisely, 1259.65 is the low today and 1258.64 was the breakout of the pennant formation and was the initial target support level. So technically the S&P is still just fine.

The Nasdaq 100 is the index that is hurting but the break of the earlier low could be the "capitulation" selloff in that index.

More wishful thinking. We'll need a strong close to make these points valid.