nikoschopen
2,824 posts
msg #53483
- Ignore nikoschopen |
7/25/2007 4:39:09 PM
Speaking of rubbing elbows, check this one out. It's one of the soundbites from the bond market update courtesy of Briefing.com:
[14:54 ET] Subprime Culpability?: Bloomberg's Jonathan Weil writes on the FASB's hand in current subprime issues. He references the 98 subprime blow-up & "'gain-on-sale' accounting - - the financial world's equivalent of crack cocaine...gain-on-sale calculations are based on lots of estimates and guesswork." This time around the FASB "who write...accounting standards say they want to redo the rules" & wanted to before "the current debacle." Whatever. By the rules "lenders that sell blocks of loans to certain types of off-balance-sheet trusts are allowed to take the loans off their books and record immediate profits," these trusts are called "qualifying special purpose entities." Under a new patch-fix these special purposes "transactions would be treated as secured borrowings, and the assets would stay on the lender's balance sheet..." By name alone its safe to assume the FASB is not a nimble & speedy shop. With an est $900B subprime adjustable-rate mortgages to be reset at higher rates by Q4 08 (according to BofA) the clock is only beginning to tick.
Sounds a little too egregious for my otherwise coarse palatte: a bunch of MOFO loving @#$^%$!!!!
|
nikoschopen
2,824 posts
msg #53502
- Ignore nikoschopen |
7/26/2007 10:02:10 AM
It's time to play Tom Jones' "Stoned in Love" again. BTW, who's that chick in the video? Damn, is she hot!
|
nikoschopen
2,824 posts
msg #53504
- Ignore nikoschopen |
7/26/2007 11:11:11 AM
She's hot alright!
♪♫♪♫ I'm stoned in love...but not with you ♪♫♪♫
At the going rate, I might just catch up to Mary's millionaire status. LOL
|
msummer2007
129 posts
msg #53505
- Ignore msummer2007 |
7/26/2007 11:19:06 AM
This is the capitulation I was waiting for. It is getting very ugly, there will be some good buys at the end of today. I wonder if anyone was lucky enough to have bought the calls in BIDU before the close yesterday. Good Luck
|
nikoschopen
2,824 posts
msg #53506
- Ignore nikoschopen |
7/26/2007 11:32:30 AM
The Dow finally hits its SMA(50), and it's high time to take the money off the table. If my prediction from yesterday means anything (blush}, I would think we've just hit the bottom or are very near the bottom of the day.
|
nikoschopen
2,824 posts
msg #53509
- Ignore nikoschopen |
7/26/2007 11:45:02 AM
I should add that when the market retraces back up from its low, it's not a cue for you to "load the boat" but to "sell into strength". Just my useless 2-cents.
|
msummer2007
129 posts
msg #53510
- Ignore msummer2007
modified |
7/26/2007 11:54:34 AM
Depending on your time horizon. Day trading yes, I agree with your statement,longer term holdings should be filled in stages. We have just seen a great starting point for longer term accumulation. Longer term being 1-3 month holdings. Niko check your mail!!! Thanks
|
nikoschopen
2,824 posts
msg #53512
- Ignore nikoschopen |
7/26/2007 12:06:27 PM
According to my sources, 13630 should be the intermediate reversal area for the Dow. Good luck.
|
nikoschopen
2,824 posts
msg #53513
- Ignore nikoschopen |
7/26/2007 12:17:38 PM
The Dow is forming a "double bottom" pattern around its low, which should be seen as a bullish signal. But exercise ure own good judgment and always use stops!
|
nikoschopen
2,824 posts
msg #53514
- Ignore nikoschopen |
7/26/2007 12:44:11 PM
Damn, this is getting to be really spooky.
|