The morning's gap filled impressively, but watch the 1245 area for strong resistance (Friday's high before Monday's big gap up).
Ha! Lehman reiterated 'Equal Weight' on shares of FNM after they plunged to mere pennies on Monday. I'm guessing that's the same as 'Hold' which is the same as 'Sell'.
The morning's gap filled impressively, but watch the 1245 area for strong resistance (Friday's high before Monday's big gap up).
Last edited by tsptalk; 09-11-2008 at 11:39 AM. Reason: 1245, not 42
Tom
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I think SELL FAST should be a new rating!!!
http://www.reuters.com/article/busin...e=businessNews
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
08:35 am : S&P futures vs fair value: -15.90. Nasdaq futures vs fair value: -4.80. A lower open is expected, with a barrage of reports not doing much to help sentiment. The New York Fed accepted a $50 billion overnight repo in an effort to improve liquidity following the doubling of the overnight Libor rate and an increase in the fed funds rate above the target rate. Overseas central banks also injected liquidity into the system, according to CNBC. Fed funds futures for today's meeting now indicate a 96% chance of a 25 basis points cut to 1.75% and a 4% chance of a 50 basis point cut. There was no chance of rate cut just one week ago. Best Buy (BBY) reported second quarter earnings of $0.48 per share, which is $0.09 worse than the average analyst estimate of $0.57. Goldman Sachs (GS) earned $1.81 per share, which topped the average estimate of $1.71, but marked year-over-year decrease of 72%. GS fell 8% to a fresh 52-week low in premarket trading. In economic news, CPI fell 0.1% in August, matching expectations due to a drop in commodity costs. CPI excluding food and energy rose 0.2%, also in line with expectations. In commodity trading, oil prices are plunging once again, down 4.1% to $91.79 per barrel.
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Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
VIX hits 33.70 this morning.
Fed then intervenes- pumps in $50 billion in liquidity to calm the markets, and then pumps another $20 billion in again.
Crazy day, eh?
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
Frixxxx: Here is a link to "How does the Fed Inject Money".
http://blogs.wsj.com/economics/2007/...nomy-a-primer/
Hope that is what you are looking for.
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
How about the Slosh Report? It's in Billions folks!!
http://www.gmtfo.com/reporeader/OMOps.aspx
For what it's worth, the Fed say no change to rates:
http://www.reuters.com/article/busin...e=businessNews
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
Ah hello . . . Last Friday my stock portfolio was valued at $8,234,928.22. Today it's worth $3.29. Does anyone have any ideas where I should invest it, so I can recoup my losses?
Sure, buy RT. You might also think about SNS or LUB. The first rule of investing is that it takes money to make money - and you can't loose money if one doesn't have any.
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