Thread: New Fed Chairman

He must be a day trader on the side.

Originally Posted by Machinist Mate

Remember the good old days when you heard Greenspan once a quarter.This new goofball cant stay off his soap box.

A very tricky time of the year! Burntankle tried to stick a shiv in our ribs, and did a pretty good job. We should scuttle or deep six him or something? Be nimble!

In defense of our new Federal Reserve Chairman Ben Bernanke, ya gotta admit folks... Alan handed him a live grenade coated with New York Yankee pine tar.

Originally Posted by Fivetears

In defense of our new Federal Reserve Chairman Ben Bernanke, ya gotta admit folks... Alan handed him a live grenade coated with New York Yankee pine tar.

He just needs to learn when to keep that trap shut.

I don't profess to know how the monetary system works, but it stands to reason that if interest rates go up, the dollar will attract buyers and stop its free-fall. I don't know how else you could stop the dollar from devaluing.

Originally Posted by Brett

I don't profess to know how the monetary system works, but it stands to reason that if interest rates go up, the dollar will attract buyers and stop its free-fall. I don't know how else you could stop the dollar from devaluing.

Cut back on government spending, create more jobs here, and quit printing more money to cover up spending and to stop market plunges.

Wait until Japan and Euroland start raising their rates. USD will tank.

Markets open up, then head for the floor?? Can someone explain to me how "futures" prices are calculated and how there can be a large disconnect between 9:29 a.m. and 9:35 ??

Originally Posted by Fivetears

In defense of our new Federal Reserve Chairman Ben Bernanke, ya gotta admit folks... Alan handed him a live grenade coated with New York Yankee pine tar.

Correct Sir.

From MarketWatch's technical analyst: Michael Ashbaugh Last Update: 10:54 AM ET Jun 6, 2006


"It's also worth noting that the way Monday's sell-off from resistance occurred was slightly ominous technically. Admittedly, total volume was moderate Monday with the NYSE turning 2.30 billion shares and just 1.71 billion traded on the Nasdaq.
Yet despite the limited volume, Monday's volume internals touched bearish extremes. Declining volume outpaced advancing volume by a massive 11 to 1 on the NYSE and an unusually strong 6.6 to 1 on the Nasdaq.
And even setting aside tedious technical details, there's a more intuitive way to view recent weakness.
On May 17, the Dow industrials plunged 214 points, marking its worst single-day loss in more than three years - going back to March 2003.
About two weeks later, on May 30, it carved out a comparable 184-point single-day loss, followed by Monday's steep 199-point loss.
So when the Dow's regularly carving out 200-point single-day losses, among its worst in three years, the U.S. markets aren't yet on solid footing.
Looking ahead, the same general areas introduced in mid-May remain in play. To adjust slightly, the relevant resistance currently holds as follows:

• S&P 500 resistance around its 50-day moving average of 1,294.
• Nasdaq resistance spanning from 2,230 to 2,232 - the cross section of the 200-day moving average and the February low.
• Dow resistance at the June high of 11,285.

If the indices would break decisively back above those areas, you might consider whether the recent downturn has run its course.
Without that break higher, the downtrend established in mid-May remains intact, and new long positions can wait until better signs of a bottom are in place."
So where is the floor? Jump back today or 1987 style meltdowm immanent??

About 11:30 am, bonds stopped drifting downward and are now turning sharply upward. Rats deserting a sinking ship?? Panic selling this afternoon or will cooler heads prevail? Curse that damn noon deadline!!

Futures are sorta like point spread betting; gambing if you will. Take oil futures... folks buy shares months in advance, betting they'll make big money. Lets say someone bought oil at $80 a barrel for July 2006. When they day comes (the one they bought for) and it is actually selling for $78 a barrel, the individual looses that money; that investment. Futures are just as the name implies. It's investors betting on market conditions. Once the bet is placed, it can't be taken back. Check out this link, and you'll see... Oil has been bought clear up to February 2007. http://futures.tradingcharts.com/mar...php3?market=CL You think these folks stand a chance to make some big money?

Originally Posted by Pilgrim

Markets open up, then head for the floor?? Can someone explain to me how "futures" prices are calculated and how there can be a large disconnect between 9:29 a.m. and 9:35 ??