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This Week in Stocks: 8/4 - 8/10/07
- Thread starter Show-me
- Start date
- Status
- Reaction score
- 2,476
Rumors of their demise have been greatly exaggerated.
Amazing what a rumor can do.
Bullitt
Market Veteran
- Reaction score
- 75
This kind of thing is drives me nuts. The CEO is delivering the company line while his brokers are dumping shares. Then you've got that Cramer saying how it's ok when a company is selling stock because they might need to buy a house or something. Take a look at SHLD. I mentioned the insider trend somewhere on this board when that stock tanked as well. Lampert sold a good amount of stock before that press release went public and took the stock down 12%. Since then, SHLD has gone down faster than the Lusitania.
Call me crazy, but I check SEC Filings daily in each stock I hold. If I see abnormal selling, I bail. I remember the CEO and a few directors cashed out of GRP from 7/15-7/18. I'm glad I followed suit.
Show-me
TSP Legend
- Reaction score
- 104
http://biz.yahoo.com/ap/070809/france_bnp_paribas.html?.v=1
AP
BNP Paribas Freezes 3 Securities Funds
Thursday August 9, 7:24 am ET
BNP Paribas Freezes 3 Asset-Backed Securities Funds Amid Subprime Market Problems
PARIS (AP) -- BNP Paribas SA, France's largest bank by market value, announced Thursday that one of its units was suspending three of its asset-backed securities funds, saying it could not value them accurately because of problems in the U.S. subprime mortgage market.
AP
BNP Paribas Freezes 3 Securities Funds
Thursday August 9, 7:24 am ET
BNP Paribas Freezes 3 Asset-Backed Securities Funds Amid Subprime Market Problems
PARIS (AP) -- BNP Paribas SA, France's largest bank by market value, announced Thursday that one of its units was suspending three of its asset-backed securities funds, saying it could not value them accurately because of problems in the U.S. subprime mortgage market.
vectorman
TSP Pro
- Reaction score
- 21
A big up gap in the VIX that will need to be filled with a rally. Sinc the last couple of Fridays have been poor tomorrow may be different.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=VIX
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=VIX
ayla
TSP Analyst
- Reaction score
- 16
Carry Trade action not looking good to me -
http://tinyurl.com/3d4eme
http://tinyurl.com/3d4eme
weatherweenie
TSP Legend
- Reaction score
- 179
That's been the case lately, sell into the weekend.
Show-me
TSP Legend
- Reaction score
- 104
http://www.briefing.com/GeneralCont...estor&ArticleId=NS20070806080133TheBigPicture
Caution Still Warranted
Last Update: 06-Aug-07 07:59 ET
The stock market is being driven by fear. Tighter credit conditions will undoubtedly have an impact on the economy, but the degree is highly uncertain. So far, changes in published estimates for GDP growth and the economy haven't changed much. That doesn't matter. It is too early to to fight the market trend.
Crunch or Just Tighter Standards
There is little evidence of a broad, classic credit crunch. Such talk is overdone. But credit standards are clearly being tightened.
Caution Still Warranted
Last Update: 06-Aug-07 07:59 ET
The stock market is being driven by fear. Tighter credit conditions will undoubtedly have an impact on the economy, but the degree is highly uncertain. So far, changes in published estimates for GDP growth and the economy haven't changed much. That doesn't matter. It is too early to to fight the market trend.
Crunch or Just Tighter Standards
There is little evidence of a broad, classic credit crunch. Such talk is overdone. But credit standards are clearly being tightened.
budnipper1
TSP Pro
- Reaction score
- 17
Market Snapshot: Dow ends with 387 point loss for 2nd worst day of the year- by Kate Gibson
...(excerps)
- U.S. stocks fell sharply Thursday, socking the Dow with its second worst close so far this year, as reports of liquidating hedge funds triggered more credit-related anxiety, which earlier led three central banks to intervene in an attempt to calm markets.
"Subprime problems have now gone global," said Kathy Lien, chief strategist of DailyFX.com. The damage "is no longer limited to just small banks and mortgage lenders, but is now hitting Tier 1 banks around the world."
Following the news, the European Central Bank said it allocated 94.841 billion euros, or about $131 billion, to 49 bidders in a one day quick tender at 4.0% to add liquidity to the money markets, a step the ECB last made the day after September 11, 2001.
And as part of its weekly open-market actions, the Federal Reserve added another $12 billion in temporary reserves to the banking system through 14-day repurchases, double the amount added the prior week.
The Bank of Canada followed suit, injecting C$1.455 billion into the markets to help liquidity.
The Fed move came two days after the Federal Open Market Committee opted to sit tight on interest rates and retain its focus on inflation, while acknowledging there were risks from the recent turmoil in financial markets.
"What stands out most from this situation is its proximity to the Federal Reserve's meeting on Tuesday. If the Fed had even the slightest inkling that a problem of this scale might occur, its statement would have had a full tilt toward neutral rather than the partial tilt it gave," Tony Crescenzi, Chief bond market strategist at Miller Tabak & Co. LLC, wrote in a note.
"Today's events show that either the Fed committed a large policy error on Tuesday, or that both the Fed and the ECB are themselves more in the dark on the problems that lie underneath the surface than are investors in the financial markets," Crescenzi said.
In New York trade, the yen surged across the board, with the dollar quoted at 118.56 yen vs. 119.68 yen late Wednesday. The euro was at 162.39 yen vs. 164.81.
Oil prices slumped, with the September-dated light crude contract closing down 56 cents at $71.59 a barrel on the New York Mercantile Exchange.
Treasury prices rallied, driving yields lower, as investors turned away from stocks to the safety of bonds. The benchmark 10-year note ended up 21/32 at 99 23/32.
Kate Gibson is a reporter for MarketWatch, based in New York
http://www.marketwatch.com/news/story/dow-ends-387-point-loss/story.aspx?guid=%7B5B61E6AC%2D63CE%2D4979%2DBD3E%2DCDF387041A94%7D&dist=TQP_Mod_mktwN
( I think you nailed it, Cramer!)
...(excerps)
- U.S. stocks fell sharply Thursday, socking the Dow with its second worst close so far this year, as reports of liquidating hedge funds triggered more credit-related anxiety, which earlier led three central banks to intervene in an attempt to calm markets.
"Subprime problems have now gone global," said Kathy Lien, chief strategist of DailyFX.com. The damage "is no longer limited to just small banks and mortgage lenders, but is now hitting Tier 1 banks around the world."
Following the news, the European Central Bank said it allocated 94.841 billion euros, or about $131 billion, to 49 bidders in a one day quick tender at 4.0% to add liquidity to the money markets, a step the ECB last made the day after September 11, 2001.
And as part of its weekly open-market actions, the Federal Reserve added another $12 billion in temporary reserves to the banking system through 14-day repurchases, double the amount added the prior week.
The Bank of Canada followed suit, injecting C$1.455 billion into the markets to help liquidity.
The Fed move came two days after the Federal Open Market Committee opted to sit tight on interest rates and retain its focus on inflation, while acknowledging there were risks from the recent turmoil in financial markets.
"What stands out most from this situation is its proximity to the Federal Reserve's meeting on Tuesday. If the Fed had even the slightest inkling that a problem of this scale might occur, its statement would have had a full tilt toward neutral rather than the partial tilt it gave," Tony Crescenzi, Chief bond market strategist at Miller Tabak & Co. LLC, wrote in a note.
"Today's events show that either the Fed committed a large policy error on Tuesday, or that both the Fed and the ECB are themselves more in the dark on the problems that lie underneath the surface than are investors in the financial markets," Crescenzi said.
In New York trade, the yen surged across the board, with the dollar quoted at 118.56 yen vs. 119.68 yen late Wednesday. The euro was at 162.39 yen vs. 164.81.
Oil prices slumped, with the September-dated light crude contract closing down 56 cents at $71.59 a barrel on the New York Mercantile Exchange.
Treasury prices rallied, driving yields lower, as investors turned away from stocks to the safety of bonds. The benchmark 10-year note ended up 21/32 at 99 23/32.
Kate Gibson is a reporter for MarketWatch, based in New York
http://www.marketwatch.com/news/story/dow-ends-387-point-loss/story.aspx?guid=%7B5B61E6AC%2D63CE%2D4979%2DBD3E%2DCDF387041A94%7D&dist=TQP_Mod_mktwN
( I think you nailed it, Cramer!)
James48843
TSP Talk Royalty
- Reaction score
- 909
Darn scary... isn't it?
fedgolfer
TSP Pro
- Reaction score
- 26
So, who's buying stocks right now thinking this is the double bottom or "w" pattern? I think we just wicked down to test the low. If the short positions come in by the truckloads, we could see another short squeeze today. There is sooooo much fear in the air. Good op for a swing trades, imho.
350zCommTech
TSP Legend
- Reaction score
- 71
The Fed injects $19 bln into banking system
By Steve Gelsi
Last Update: 9:08 AM ET Aug 10, 2007
NEW YORK (MarketWatch) -- The Fed bought $19 billion in three-day repurchase agreements in mortgage-backed securities, according to a release Friday from the New York Federal Reserve Bank. A total of $31.2 billion was submitted with a weighted average interest rate of 5.24%.
http://www.marketwatch.com/news/sto...A-C8D1-4A76-9EF0-5DF58F47E7CA}&dist=MorePulse
This is a form of a bailout. They are trying to stimulate the secondary market with our tax money. But we all know now that MBS are junk. I want to see the market recover as much as anybody, but this is wrong.
By Steve Gelsi
Last Update: 9:08 AM ET Aug 10, 2007
NEW YORK (MarketWatch) -- The Fed bought $19 billion in three-day repurchase agreements in mortgage-backed securities, according to a release Friday from the New York Federal Reserve Bank. A total of $31.2 billion was submitted with a weighted average interest rate of 5.24%.
http://www.marketwatch.com/news/sto...A-C8D1-4A76-9EF0-5DF58F47E7CA}&dist=MorePulse
This is a form of a bailout. They are trying to stimulate the secondary market with our tax money. But we all know now that MBS are junk. I want to see the market recover as much as anybody, but this is wrong.
- Reaction score
- 2,476
from www.sentimentrader.com
How extreme is our current situation? In the 10+ year history of the S&P 500 tracking fund, SPY, I can find only one other time that we gapped down 1.5% yesterday and closed lower than the open, then gapped down at least 1% the next morning. That other instance was 9/21/01 - which marked the bottom after the 9/11 tragedy.
How extreme is our current situation? In the 10+ year history of the S&P 500 tracking fund, SPY, I can find only one other time that we gapped down 1.5% yesterday and closed lower than the open, then gapped down at least 1% the next morning. That other instance was 9/21/01 - which marked the bottom after the 9/11 tragedy.
vectorman
TSP Pro
- Reaction score
- 21
Maybe the market knows that another big attack is coming soon. It started selling off before 9/11.:suspicious:
Or I could say the right shoulder of the DOW H&S pattern is complete and it doesn't look too rosey.
But...I think there will be a big rally forth coming. EFA and the VIX has two gaps that need to be filled. EFA is near support and VIX is at a extreme.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=EFA
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=VIX
- Status
