Show-me Account Talk

[Show-me]

The Week Ahead.

The Week Ahead

Last Update: 20-Jun-08 10:11 ET

The focal point next week will be the FOMC policy announcement on Wednesday. The market expects the fed funds rate to remain unchanged at 2.00%, but the uncertainty with respect to the wording of the policy directive means it has market-moving potential.

Market participants will also be keeping a close eye on economic data. The consumer confidence, durable orders, new home sales, existing home sales, and personal income and spending reports highlight the economic docket.

Visit Briefing.com's Economic Calendar for more information on the economic reports.

The Earnings Calendar is relatively light, although there are a few widely held names due to report. Quarterly results from Nike (NKE), Monsanto (MON), Oracle (ORCL), Research In Motion (RIMM) and Walgreen (WAG) will get the most consideration.
________________________________________________________________


Monday, June 23:

• Earnings: Walgreen (WAG)
• Economic Data: None
• Events: None
• Conferences: Wachovia Nantucket Equity Conference
• Fed Speakers: None

Tuesday, June 24:

• Earnings: Kroger (KR), Darden Restaurants (DRI), Jabil Circuit (JBL)
• Economic Data: Consumer Confidence (June)
• Events: Start of two-day FOMC Meeting
• Conferences: Wachovia Nantucket Equity Conference... Jefferies & Co. Annual Healthcare Conference... Deutsche Bank Securities Inc. 2008 Alternative Energy Conference
• Fed Speakers: None

Wednesday, June 25:

• Earnings: General Mills (GIS), Monsanto (MON), Nike (NKE), Oracle (ORCL), Red Hat (RHT), Research In Motion (RIMM)
• Economic Data: Durable Orders (May)... New Home Sales (May)
• Events: FOMC Policy Statement (2:15 PM ET)... Weekly Crude Inventories (week ended June 21)
• Conferences: Wachovia Nantucket Equity Conference... Jefferies & Co. Annual Healthcare Conference
• Fed Speakers: None

Thursday, June 26:

• Earnings: ConAgra (CAG), Discover Financial Services (DFS), Lennar (LEN), Rite Aid (RAD), Accenture (ACN), Micron (MU),
• Economic Data: Final GDP (Q1)... Existing Home Sales (May)... Weekly Initial Jobless Claims (week ended June 21)
• Events: None
• Conferences: Wachovia Nantucket Equity Conference... Jefferies & Co. Annual Healthcare Conference...
• Fed Speakers: Federal Reserve Vice Chairman Kohn to speak at European Central Bank conference (7:30 AM ET)... St. Louis Fed President Bullard to speak on monetary policy at European Central Bank conference ( 9:00 AM ET)

Friday, June 27:

• Earnings: KB Home (KBH), Steelcase (SCS)
• Economic Data: Personal Income and Spending (May)
• Events: None
• Conferences: None
• Fed Speakers: None

--Ryan McShane, Briefing.com
http://www.briefing.com/GeneralCont...vestor&ArticleId=NS20080620101140LookingAhead

 

[marcel54]

Thanks. I am new at shorting and will check out QID. Thanks again.

 

[Show-me]

WEEKEND EDITION
Brokers threatened by run on shadow bank system

Regulators eye $10 trillion market that boomed outside traditional banking

By Alistair Barr, MarketWatch
Last update: 2:37 p.m. EDT June 20, 2008

SAN FRANCISCO (MarketWatch) -- A network of lenders, brokers and opaque financing vehicles outside traditional banking that ballooned during the bull market now is under siege as regulators threaten a crackdown on the so-called shadow banking system.


Big brokerage firms like Goldman Sachs, Lehman, Morgan Stanly which some say are the biggest players in this non-bank financial network, may have the most to lose from stricter regulation.
The shadow banking system grew rapidly during the past decade, accumulating more than $10 trillion in assets by early 2007. That made it roughly the same size as the traditional banking system, according to the Federal Reserve.
While this system became a huge and vital source of money to fuel the U.S. economy, the subprime mortgage crisis and ensuing credit crunch exposed a major flaw. Unlike regulated banks, which can borrow directly from the government and have federally insured customer deposits, the shadow system didn't have reliable access to short-term borrowing during times of stress.

http://www.marketwatch.com/news/sto...x?guid={FA23DF5A-918F-41DA-B794-7E553ADAFAA7}

 

[robo]

WEEKEND EDITION
Brokers threatened by run on shadow bank system

Regulators eye $10 trillion market that boomed outside traditional banking

By Alistair Barr, MarketWatch
Last update: 2:37 p.m. EDT June 20, 2008

SAN FRANCISCO (MarketWatch) -- A network of lenders, brokers and opaque financing vehicles outside traditional banking that ballooned during the bull market now is under siege as regulators threaten a crackdown on the so-called shadow banking system.


Big brokerage firms like Goldman Sachs, Lehman, Morgan Stanly which some say are the biggest players in this non-bank financial network, may have the most to lose from stricter regulation.
The shadow banking system grew rapidly during the past decade, accumulating more than $10 trillion in assets by early 2007. That made it roughly the same size as the traditional banking system, according to the Federal Reserve.
While this system became a huge and vital source of money to fuel the U.S. economy, the subprime mortgage crisis and ensuing credit crunch exposed a major flaw. Unlike regulated banks, which can borrow directly from the government and have federally insured customer deposits, the shadow system didn't have reliable access to short-term borrowing during times of stress.

http://www.marketwatch.com/news/sto...x?guid={FA23DF5A-918F-41DA-B794-7E553ADAFAA7}

Yep, my hope is more Pigmen go to jail and they start paying taxes at the normal rates, NOT the current 15%**&&^&^(*^!.... Hedge Funds - I call them crooks folks....

 

[hessian]

Interesting article - thanks Show-me.
Sure would like to find a Listing of these banks (/Credit Unions?) -to know just who might be affected! :blink:

Related:
Buy a home in the next year and receive tax-breaks & other perks! -a Plan To Aid Homeowners?-Faces Key Test... Rescue package that would help distressed homeowners avoid foreclosure faces Senate vote;
June 24, 2008: 4:15 AM EDT

WASHINGTON (AP) -- A plan to help hundreds of thousands of homeowners avoid foreclosure is drawing bipartisan support in the Senate, setting the stage for high-stakes negotiations among congressional Democrats.
The far-reaching housing plan faces a Senate test-vote Tuesday, when it could also come to a final vote. The disputes among Democrats over key details, however, as well as a veto threat from the White House, will almost certainly push any final agreement into July.
Conservative "Blue Dog" Democrats are concerned about how to pay for the measure, while members of the Congressional Black Caucus - most of them liberal - call it "unacceptable," arguing it doesn't do enough to address the needs of African Americans.
The centerpiece of the package is a foreclosure rescue program in which the Federal Housing Administration would provide $300 billion in new, cheaper mortgages for distressed homeowners who otherwise would be considered too financially risky to qualify for government-insured, fixed-rate loans.
Borrowers would be eligible if their mortgage holders were willing to take a substantial loss and allow them to refinance, and would ultimately have to share with the government a portion of any profits they made from selling or refinancing their properties.
The bill would tighten controls and create a new regulator for Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500), which provide huge amounts of cash flow to the mortgage market by buying home loans from banks.
It also would provide a $14.5 billion array of tax breaks, including a credit of up to $8,000 for first-time homebuyers who buy a home in the next year and boosts in low-income tax credits and mortgage revenue bonds.
In a letter to Democratic leaders last week, the 42 House members of the Black Caucus said the bill is plagued with "glaring omissions," including affordable housing funds for states affected by Hurricane Katrina and grants for states and localities to buy and fix up foreclosed properties.
To draw GOP support, Senate Democrats diverted the affordable housing money to pay for the foreclosure aid program.
The Senate bill provides $3.9 billion in grants to deal with foreclosed properties -- compared with a House plan providing $15 billion - but the White House singled out the funds in its veto threat, and Blue Dogs are demanding that the money be offset with cuts elsewhere.
Rep. Barney Frank, D-Mass., the Financial Services Committee chairman, said he'd be willing to yank the money and add it to a separate measure in the interests of a deal.
http://money.cnn.com/2008/06/24/real_estate/housing_rescue.ap/index.htm

 

[alevin]

Interesting article - thanks Show-me.
Sure would like to find a Listing of these banks (/Credit Unions?) -to know just who might be affected! :blink:

Hessian, not sure how you got credit unions lumped in with (investment?) banks. Credit Union deposits are federally ensured. I'd been wondering myself about that lately considering I have a CU account. But I ran across an article somewhere last week or so explaining the federal insurance-covered under some act similar to FDIC. Will try to relocate the article if you want to see it.

 

[Show-me]

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[Show-me]

I had 5 inches of rain yesterday and now it is pouring again. We're screwed! Fabius rivers are both out and now this. Sandbagging effort have restarted yesterday.

I've started my Ark.

 

[pattidiva1]

I feel for you, Show-me. My son still llives in west St. Louis County which is not all that far from the St. Charles levee that recently gave way. GL to you! :worried:

 

[Gumby]

I had 5 inches of rain yesterday and now it is pouring again. We're screwed! Fabius rivers are both out and now this. Sandbagging effort have restarted yesterday.

I've started my Ark.

Hang in there show-me. I hope the levees hold. This year has many similarities to 1993 which was supossedly a 500 year return event.

 

[Guest2]

Stay safe my friend. Water can get mean.

 

[luv2read]

Hang in there show-me. I hope the levees hold. This year has many similarities to 1993 which was supossedly a 500 year return event.

Mother Nature doesn't care what ACE says. She does what she wants when she wants.

Good luck SM! Been there, and floods aren't fun.:worried:

 

[Show-me]

Thanks everyone!

Sold!!!! SDS $65.78 for a 9.71% gain

 

[robo]

Thanks everyone!

Sold!!!! SDS $65.78 for a 9.71% gain

Nice trade!

 

[marcel54]

Great trade...How long did you have it?

 

[Show-me]

6/13-6/26 :d

 

[hessian]

Hoping you're doing OK - & surviving those floods there Show-me! :worried:
Extra-ordinary video from Oscar today!! ...(red-omni)
VR

 

[Show-me]

Levee's holding!

Weekly chart shows we are due a bounce with double bottom. Daily shows retest and anybodies guess. If we go lower I will take my licks. STA sez week after 4th bullish. Lets play!

TSP: 50% C 50% S / Roth: CASH

 

[Show-me]

Don't like going against Oscar, but I see the same picture just a different way to get there. Next week will be the nail biter.

 

[poolman]

Don't like going against Oscar, but I see the same picture just a different way to get there. Next week will be the nail biter.

Hope my Heart can take it.