Market Talk / Sept. 28 - Oct. 4

[Spaf]

Market Talk
Sunday Edition
September 28, 2008​

General Commentary:

I have a question? Why are we bailing out the same folks that got us in this mess, in the first place? When does the Investor get rescued??

Well, maybe the congressional rescue plan will slow the financial meltdown, and hopefully, hopefully have some good impact for the folks on main street.

A look at the chart(s)
The S&P500 [$SPX] Daily
Large Caps

Charts courtesy of www.StockCharts.com​

The 50d E-moving average remains in a downtrend and should be the resistance level for any advances. We should see support around the 1150 level.

The P-SAR remains bullish, noting a higher low could be forming.

The Bollinger bands have quite the spacing, indicating volatility in the S&P fund.

Volume has been light the past five trading days, sort of a wait and see atttitude.

The S-STO was midlined and could go either way.

The MACD was somewhat of a questionable bullish.

Well, that's it for the weekend!​

Be careful out there!​

 

[Birchtree]

Spaf,

To answer your question it's because we can not allow the irresponsible at risk population to slide into poverty again even if they can't pay for their good fortunes. We still wear the white hats in this great country - besides what would all the Mexican workers do if they couldn't mow those expensive lawns because nobody was home.

 

[nnuut]

Come on Birch be a good boy!:nuts:

 

[XL-entLady]

...besides what would all the Mexican workers do if they couldn't mow those expensive lawns because nobody was home.

{Raises hand} I know this one! They can do what my Latino nephew-in-law did: come back from front lines duty in Iraq with the rest of his National Guard unit, find a new job because he had been replaced in his old job while he was on active duty, and work hard enough and smart enough that within eighteen months he was offered a management position with his new company!

Lady

 

[nnuut]

{Raises hand} I know this one! They can do what my Latino nephew-in-law did: come back from front lines duty in Iraq with the rest of his National Guard unit, find a new job because he had been replaced in his old job while he was on active duty, and work hard enough and smart enough that within eighteen months he was offered a management position with his new company!

Lady

AS it should be!! My wife is Spanish, been here for 30 years, still has a GREEN CARD, but is LEGAL and a good citizen. If you are not legal, get legal or leave!! PLEASE! I know plenty of Americans that are out of work and are qualified to do whatever the ILLEGALS are doing.! THIS IS ANOTHER NO BRAINER!!
Norman:nuts:

 

[James48843]

Congress releases copies of the final House version of the bill, agreed to in committee late last night:

http://www.house.gov/apps/list/press/financialsvcs_dem/press092808.shtml

Executive "Golden Parachute Bailout" pay, which had been an issue, is treated with a simple 20% surchange tax. Bottom line, executives can continue to get paid exorbitant amounts- they just have to pay a 20% surcharge tax on those exorbitant amounts. ANd the bill DOES NOT limit compensation for those executives who stay- it simply limits the tax deductibility by the company of compensation above 500K per year. The companies can still pay their executives multi-millions if they like, they just can't deduct the huge salaries from their tax bills.

And Holders of Freddie Mac and Fanny May preferred shares (NOT common shares) get special treatment.

Man, that is one ugly bill.

 

[James48843]

Global markets sink on word of the details of the bill.

Hang Seng now down over 4%,

Rest of Asia , and all of European markets down over 2% right now.

 

[McDuck]

Congress releases copies of the final House version of the bill, agreed to in committee late last night:

http://www.house.gov/apps/list/press/financialsvcs_dem/press092808.shtml

Executive "Golden Parachute Bailout" pay, which had been an issue, is treated with a simple 20% surchange tax. Bottom line, executives can continue to get paid exorbitant amounts- they just have to pay a 20% surcharge tax on those exorbitant amounts. ANd the bill DOES NOT limit compensation for those executives who stay- it simply limits the tax deductibility by the company of compensation above 500K per year. The companies can still pay their executives multi-millions if they like, they just can't deduct the huge salaries from their tax bills.

And Holders of Freddie Mac and Fanny May preferred shares (NOT common shares) get special treatment.

Man, that is one ugly bill.

The House Republicans are the only ones against it.

 

[XL-entLady]

McCain ... will attempt to firmly plaster $750 billion bailout on the Democrat's backs even though their compromise bill before the House Reps showed up wasn't give $750 away for free or even offering that much up front - that was Paulson. ...That's the message, heads (rescue passes) Republicans win because it's not "their bill" it's the Dem's fault, and all the "good" amendments to stop golden parachutes and other excesses were put in by the House Republicans (not true, they were already in the draft before the House Rep rebellion), and this is a total waste of money anyway so the Dems are throwing your money at fatcats. Tails (doesn't pass) Obama was fiddling while the economy burned, even though this was a horrible idea anyway, oh and we won against the Dems $750 billion free giveaway (even though it's Paulson who begged for this albatross in the first place), and if the economy crashes it was going to do that anyway.

The House Republicans are the only ones against it.

Silverbird says it like I think it, but expresses it in a more articulate way than I could. I'll be glad when the election is over so that every post on this MB isn't about McBama.

Lady

 

[James48843]

Looks like the markets in general don't like it.

VIX has now jumped to 37.26 this morning.

S&P 500 (C fund) drops to 1186.

Soft opening for a day when we were supposed to have a deal on the 700 billion bailout. Market not happy.

 

[Gumby]

Looks like the markets in general don't like it.

VIX has now jumped to 37.26 this morning.

S&P 500 (C fund) drops to 1186.

Soft opening for a day when we were supposed to have a deal on the 700 billion bailout. Market not happy.

Looks like it is going to get worse.:blink:

 

[hessian]

Looks like the markets in general don't like it.

VIX has now jumped to 37.26 this morning.

S&P 500 (C fund) drops to 1186.

Soft opening for a day when we were supposed to have a deal on the 700 billion bailout. Market not happy.

VIX now at 39+
Thought maybe a retest of the mid-Sept low today (broke the 1179 mark),
- so thought maybe a buying opportunity
- except now there's seems to be a 10:00 bounce (possible retrace/spook the weaks??)
Wow, this one is tough!!!

 

[Spaf]

The bailout failed yesterday. Why?

The way I see it------>>
Congressmen were hearing from their constituents that the bill was disliked.
What is there to like when we bailout greedy banks in the US and all over the world.

Does any one bail us out when we make a bad investment.......:notrust:.....Why do I have to pay for their mistakes?? They surely don't pay for mine.

I think I'll call my congressman.....

 

[JOVARN]

Step away from the phone .

Yesterday I lost my retirement triple tube Pontoon Boat with 250 Honda
if you call your congressman I may loose my retirement car tomorrow

 

[ATCJeff]

Step away from the phone .

Yesterday I lost my retirement triple tube Pontoon Boat with 250 Honda
if you call your congressman I may loose my retirement car tomorrow

I probably would worry about other things rather than toys right now.

 

[Spaf]

Nothing else for this week, see ya next!​

Spaf​

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