petrolpeter
439 posts
msg #54275
- Ignore petrolpeter |
8/22/2007 5:58:40 AM
This may be a spell of summer doldrums.Just floating around 13000.
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nikoschopen
2,824 posts
msg #54278
- Ignore nikoschopen |
8/22/2007 12:04:46 PM
It sure feels that way. After 3 weeks of gut-wrenching roller coaster rides, this market is putting me to sleep.
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petrolpeter
439 posts
msg #54279
- Ignore petrolpeter
modified |
8/22/2007 2:32:52 PM
AAPL based at 120 and came up ,didn't notice it till now.This filter takes a look at AAPL and more that slowly come back after a correction:
Should have paid more attention!
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nikoschopen
2,824 posts
msg #54286
- Ignore nikoschopen |
8/22/2007 10:33:35 PM
Okay, BofA gave Countrywide a new lease on life by investing $2B and the afterhours trading is off to the races. Call me retarded but I have hard time understanding how this alone can wipe out all the troubles facing the subprime woes of late. Only thing that I see are bunch of morons with their overinflated emotions running on turbo charge for reasons that elude me. Well, I guess that's natural for a perma bear. Let me know if you have a better explanation.
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heypa
283 posts
msg #54288
- Ignore heypa |
8/23/2007 12:33:59 AM
I think BofA has evaluated that there is no way that the FED would stand by and let the largest savings and loan fail and go bankrupt.Or perhaps they think that they can capitalize on sufficient share price gain to turn a profit later in the run to Jim Cramers DOW 14500.After all the FED listens to Cramer, or so he says.
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nikoschopen
2,824 posts
msg #54289
- Ignore nikoschopen |
8/23/2007 1:56:34 AM
No doubt, Cramer is a force to be reckoned with. Whatever.
Previously, there was an article about the possibility that Warren Buffett might come knocking at the beleaguered company. I was a little bewildered then but now I feel outright irritated. Just because Buffett is interested in acquiring Countrywide, the concern over credit crunch that has pushed the market into a tailspin is no longer an issue? How idiotic can you get?
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msummer2007
129 posts
msg #54291
- Ignore msummer2007 |
8/23/2007 10:42:17 AM
Now I have heard everything. Mark Haynes of Cnbc, makes a statement, "what will the fed do if we retest the bottoms." It is expected that the feds will intervene.
I feel bad for traders making a living shorting, heaven forbid this market takes it's lumps like everyone else does.
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heypa
283 posts
msg #54293
- Ignore heypa |
8/23/2007 11:55:21 AM
The non FED created this problem with extremely low interest rates. The so called mortgage raters were derelect in their doing their duty. The mortgage companies werw allowed to become overly creative in writing loans.Where was responsible government oversight? The people taking out loans were not knowlegable enough financially and took unwarrented risks and the media was also culpable.This problem was not a surprise and neither was the last savings and loan problem.
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nikoschopen
2,824 posts
msg #54295
- Ignore nikoschopen |
8/23/2007 12:55:02 PM
Did Marc Haynes say what the Fed will do once we retest the low only to break below and go lower? And lower, and still lower? Not that it will ever happen, but to assume that it's a no-brainer for the Fed to come to investor's rescue just because the low was retested or taken out is a fallacy in my mind.
That's what sets the difference between the bulls and the bears. We bears don't expect a "free lunch" from anyone, even in times when the market is irrationally exuberant. As for the bulls, they make up the most puerile, if not idiotic, reasons (like Buffett might buy Countrywide) in the hopes of enticing the naive among us to go long.
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msummer2007
129 posts
msg #54296
- Ignore msummer2007 |
8/23/2007 2:11:28 PM
I notice CFC is being sold down strongly. Gapped in the morning, was the perfect escape for people who were long already. Who knows which way this will go, but I see more downside coming. I heard on CNBC 87,000 jobs lost year to date in the financial sector. I wonder what these people are going to do now to replace decent paying jobs. This should eventually add more homes for sale in the near future.
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