Show-me Account Talk

[luv2read]

Historically the market does better when Democrats are in charge. Just a fact. I'm neutral, I don't like or trust any of them.

Still waiting for my dark horse to arrive and knock their socks off and run away with the election.

 

[Corepuncher]

AP
Investors question financial sector rebound
Tuesday July 22, 6:02 pm ET
By Ieva M. Augstums, AP Business Writer After huge loss at Wachovia, market questions recovery from year-old credit crisis

CHARLOTTE, N.C. (AP) -- Surprisingly large second-quarter losses at Wachovia Corp. and Washington Mutual Inc. have quickly revived concerns that the financial sector still has a long way to go before it recovers from the year-old credit crisis.

Investors who were growing optimistic after a string of upbeat bank results in recent days were jolted Tuesday when Wachovia, the nation's fourth-largest bank, racked up an $8.86 billion loss because of charges and reserves for bad mortgage loans. The Charlotte-based bank also cut its dividend for the second time this year and eliminated 10,750 positions.

Washington Mutual, the nation's largest savings and loan, delivered a further blow, swinging to a $3.33 billion loss as it boosted its loan loss reserve to more than $8 billion, betting it will have more soured mortgages.

Both companies warned of steep cost cuts -- Wachovia said it was eliminating 10,750, positions, including those held by 6,350 current workers. Seattle-based WaMu said it would be cutting up to $1 billion in expenses by the end of 2009.

http://biz.yahoo.com/ap/080722/earns_banks.html

OH...so THAT is why Wachovia was up 27% today

 

[Show-me]

TSP trade limits suck.

I know this not TSP related but it is by proxy cuz I borrowed from my TSP to fluff my Roth.

I am happy to have missed my SU buy. I still believe it is a long term buy. More storms to come and one group upped their storm estimates. SU is right up against the 200 dma. They release earnings on the 24th.

http://stockcharts.com/h-sc/ui?s=SU&p=D&yr=1&mn=0&dy=0&id=p51972347693

Had I been home I would have bought SKF @ 121 aftermarket. I will be shooting for it tomorrow morning. XLF has run up 35% and is against the 50 dma. That to me is a very tempting buy to short financials. I feel we have went to far to fast.

http://stockcharts.com/h-sc/ui?s=XLF&p=D&yr=0&mn=6&dy=0&id=p26694867262

UYG is the 2X leveraged and SKF is the 2X inverse leveraged.

http://stockcharts.com/h-sc/ui?s=UYG&p=D&yr=0&mn=6&dy=0&id=p51972347693

http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=0&mn=6&dy=0&id=p26694867262

InTheMoneyStocks



UGA is a wild one. I will buy some of that soon, heating season is on the way and it is on the 200 dma. T. Boone Pickens is really pushing LNG too.

http://stockcharts.com/h-sc/ui?s=UNG&p=D&yr=1&mn=4&dy=0&id=p59334669304

As far as TSP goes, trading limits suck big time and I am getting hammered. I will likely step out if I can get even on this trade.


AlfaTrends.net




A sign that things are worse than they are telling you. Local bank Keokuk, IA offering 6.01% on a checking account. Called and asked why, was told to stimulate local spending. Only local folks can apply.

http://www.fcb-keokuk.com/

 

[alevin]

Holy Cow!

 

[Show-me]

Re: TSP trade limits suck.

To be clear, thinking of short financials by going long SKF.

 

[Show-me]

So how do we think Christmas will pan out this year?

Elections, energy, jobs, food inflation, credit crunch, credit card bubble, etc. I see another stimulus check coming.

 

[JTH]

So how do we think Christmas will pan out this year?

Elections, energy, jobs, food inflation, credit crunch, credit card bubble, etc. I see another stimulus check coming.

That's a very good question. I wasn't in America last Christmas so I didn't have a good feel for the market. My only theory is that Americans have a short attention span and can only take so much bad news before they just throw it out the window.

My votes for better the expected...

 

[Corepuncher]

So how do we think Christmas will pan out this year?

Elections, energy, jobs, food inflation, credit crunch, credit card bubble, etc. I see another stimulus check coming.

It should be the worst Christmas in a while...unless like you say, they dole out free money.

Beware of earnings this quarter...a lot of "stimulus effect" going on...especially with the cruise lines, I surmise. It's funny that they are up because before the checks were mailed out, I was thinking of what types of things would profit and cruise's were at the top of my list. I took a vacation as well, just not a cruise.

 

[Show-me]

It should be the worst Christmas in a while...unless like you say, they dole out free money.

Beware of earnings this quarter...a lot of "stimulus effect" going on...especially with the cruise lines, I surmise. It's funny that they are up because before the checks were mailed out, I was thinking of what types of things would profit and cruise's were at the top of my list. I took a vacation as well, just not a cruise.

Bingo on the "stimulus effect"! This year will be horrible because this year the credit cards are maxed out. Stimulus check will not work unless they can time it to a tee that everyone get them all in late Nov. to early Dec. My parents just got theirs last week.

 

[Show-me]

Check out this link that Corepuncher provided.

http://www.tsptalk.com/mb/showpost.php?p=172442&postcount=370

If this is true and they are going to completely bail out the financial sector the market would rally big time going into the elections and the dollar would sink to new lows.

Just like our elected officials.

 

[Show-me]

Going to wait and see how the day goes.

 

[Show-me]

Looks like I missed the boat on SKF. It is rallying premarket.

 

[Corepuncher]

Looks like I missed the boat on SKF. It is rallying premarket.

Maybe not! Down 2.6% as of 9:45 am EDT.

UPDATE: -3.4% as of 9:48!

 

[Corepuncher]

Maybe not! Down 2.6% as of 9:45 am EDT.

UPDATE: -3.4% as of 9:48!

Wow, now down 7% !

 

[Show-me]

Set a limit order on SKF for $108.75 so if we get a XLF rally I won't miss out. I know it is extreme but you never know.
.

 

[Show-me]

Well no sale. Going to take the next threee daaays offf. Still waiting and wanting on the Roth and getting spanked on the TSP.

Good luck and good weekend.

 

[Show-me]

Going to try and make a quick buy play for the weekend. Looking hard at going long on SU that has broken soundly below the 200 dma and is due a big bounce.

 

[Show-me]

Going to try and make a quick buy play for the weekend. Looking hard at going long on SU that has broken soundly below the 200 dma and is due a big bounce.

SU, own it @ $52.15.

 

[Show-me]

The Week Ahead

Last Update: 25-Jul-08 11:10 ET

The coming week is packed with earnings reports and several highly influential pieces of economic data, including the advance second quarter GDP report and the July employment report.

Check out the Economic Calendar for added information pertaining to all of the reports in the coming week.

Roughly 130 S&P 500 companies are set to report their quarterly results. Some of the bigger names include CVS Caremark (CVS), Kraft Foods (KFT), Exxon Mobil (XOM), and Verizon (VZ)

Take a look at Briefing.com's Earnings Calendar for more information.
________________________________________________________________

Monday, July 28:

• Earnings: Kraft Foods (KFT), Tyson Foods (TSN), Verizon (VZ), Wrigley (WWY), Amgen (AMGN), EDS (EDS), Hartford Financial Services (HIG), Mosaic (MOS)
• Economic Data: None
• Events: None
• Conferences: Texas Technology Forum... SIFMA Managing Operation Risk Conference
• Fed Speakers: Fed Governor Mishkin speaks on communication (12:20 PM ET)

Tuesday, July 29:

• Earnings: Alcatel-Lucent (ALU), BP (BP), Coach (COH), Colgate-Palmolive (CL), Entergy (ETR), Northrop Grumman (NOC), Sony (SNE), Teva Pharmaceuticals (TEVA), U.S. Steel (X), Valero Energy (VLO), Waste Management (WMI), Electronics Arts (ERTS), MetLife (MET), Viacom (VIA.B)
• Economic Data: Consumer Confidence (July)
• Events: None
• Conferences: Keefe, Bruyette & Woods Community Bank Investor Conference
• Fed Speakers: None

Wednesday, July 30:

• Earnings: Arcelor Mittal (MT), Avon Products (AVP), Comcast (CMCSA), Corning (GLW), Office Depot (ODP), Siemens (SI), Allied Waste (AW), Express Scripts (ESRX), Prudential (PRU), Starbucks (SBUX), Symantec (SYMC), Visa (V), Walt Disney (DIS)
• Economic Data: ADP Employment (July)
• Events: Weekly Crude Inventories (week ended July 26)
• Conferences: Keefe, Bruyette & Woods Community Bank Investor Conference
• Fed Speakers: None

Thursday, July 31:

• Earnings: Aetna (AET), Altria (MO), Apache (APA), Automatic Data Processing (ADP), Barrick Gold (ABX), Cablevision (CVC), CBS Corp (CBS), CVS Caremark (CVS), Exxon Mobil (XOM), Goodyear Tire (GT), International Paper (IP), Kellogg (K), MasterCard (MA), Motorola (MOT), Tesoro (TSO), Tyco (TYC)
• Economic Data: Advance Second Quarter GDP... Chicago PMI (July)... Weekly Jobless Claims (week ended July 26)
• Events: None
• Conferences: None
• Fed Speakers: None

Friday, August 1:

• Earnings: Chevron (CVX), Nortel (NRTL), NYSE Euronext (NYX), Sun Microsystems (JAVA)
• Economic Data: July Employment Report... Construction Spending (June)... ISM Index (July)... Auto Sales (July)
• Events: None
• Conferences: None
• Fed Speakers: None

--Ryan McShane, Briefing.com

 

[Show-me]