Thread: 350zCommtech's Account Talk

Originally Posted by 350zCommTech

This is not the best chart, but it will have to do since I can't figure out how to grab a chart from dailyfx.com.

Here is what is happening. The USDYEN is about to test the March low of 95.71. It's currently at 97.49. That March low is a low that goes back 8 or more years. If it holds, it's rally time. But I don't see it happening. It's only 2% away. The timing is very interesting since the market is about to break out of a triangle pattern. If it doesn't hold, well, we'll know which way the market breaks out of this pattern.

Attachment 4928

below march low right now

Originally Posted by Corepuncher

below march low right now

Yes, it actually pinned 95.5 a couple of times before bouncing. Might have been short covering or manipulation. US futures also bounced. Lets see how long this last.

Originally Posted by 350zCommTech

Yes, it actually pinned 95.5 a couple of times before bouncing. Might have been short covering or manipulation. US futures also bounced. Lets see how long this last.

Lasted less than 10 minutes. Ouch!....

GE to Use Fed's Commercial Paper Facility Next Week (Update2)
By Rachel Layne and Scott Lanman

Oct. 23 (Bloomberg) -- General Electric Co., the biggest U.S. issuer of commercial paper, plans to use the Federal Reserve's new short-term funding facility when it starts next week.

GE and its General Electric Capital Corp. finance arm registered as users of the Fed's Commercial Paper Funding Facility, spokesman Russell Wilkerson confirmed today in a telephone interview. The company hasn't set an amount that it plans to borrow and will base that decision on customers' need for liquidity, he said.

``This is a way for us to demonstrate our support for what the Fed is doing, which is providing all-around liquidity,'' Wilkerson said. ``There is a role for us and other large issuers to play here in demonstrating that this action is good for the market and very important for the buyers of GE paper as it provides a secondary market.''

The Fed is seeking to stem the credit-market seizure and revive demand for commercial paper, short-term debt that companies use to finance their day-to-day operations, by offering to buy 90-day debt of top-rated companies. The central bank this week also said it would provide as much as $540 billion in loans to money-market funds, the biggest buyers of the debt. Companies cut back their short-term borrowing for the sixth-straight week, the Fed said today, as investors balked at taking on the debt.

``We are encouraged that many issuers have already registered in the program because that provides a signal to investors of greater liquidity support to this key financing market,'' said Andrew Williams, a Fed spokesman in New York.

Read the rest here:http://www.bloomberg.com/apps/news?p...9mI&refer=home

I don't believe what GE is saying for one second. They're tapping the widow because they need it.

On the day that Buffet injected capital into GE($22/share at the time)for 10% dividend, a few folks here picked up some GE stocks. I wrote that it was a bad idea. GE closed at $18.80 today. Let's see if I'm right 6 months from now.

Originally Posted by 350zCommTech

I don't believe what GE is saying for one second. They're tapping the widow because they need it.

On the day that Buffet injected capital into GE($22/share at the time)for 10% dividend, a few folks here picked up some GE stocks. I wrote that it was a bad idea. GE closed at $18.80 today. Let's see if I'm right 6 months from now.

If Buffet can't move this stock it is done !!! GE doing business with IRAQ was not only bad business but it is a mark against them forever. IMO I would not but this at even $15. If anything it will be bought out and then their tags can truely say "Made in Iraq".

Originally Posted by Braveheart

If Buffet can't move this stock it is done !!! GE doing business with IRAQ was not only bad business but it is a mark against them forever. IMO I would not but this at even $15. If anything it will be bought out and then their tags can truely say "Made in Iraq".

GE's financing business is doing them in, just like AIG. Their hand got caught in the cookie jar just like the others on Wall St. It's a shame really. Wall St., thanks to it's MBS/CDS/pyramid scheme/pushing paper/fraud/etc...., is taking down the world.

USD/YEN is attacking the lows again, but this time might be for real, as Japan looks to be in panic mode.

Nikkei down 813.

Black Friday......C R A S H !!!

Well if we lose another 1500 at least we have that Obama tax plan if he's elected. Won't be anyone making over 250K but the retired folks got $63 for Social Security. Enough to buy Milk, Bread & Cat Food !!! Sad times ahead folks.

Originally Posted by Braveheart

Black Friday......C R A S H !!!

Well if we lose another 1500 at least we have that Obama tax plan if he's elected. Won't be anyone making over 250K but the retired folks got $63 for Social Security. Enough to buy Milk, Bread & Cat Food !!! Sad times ahead folks.

****.......USD/YEN broke down all the way to 91 and US futures are locked. Obama or whomever, we are screwed.

Hank Paulson and Ben Bernanke, you lieing fucks, cancel that Wall St. $700B bailout because the people are going to need it.

Originally Posted by 350zCommTech

****.......USD/YEN broke down all the way to 91 and US futures are locked. Obama or whomever, we are screwed.

Hank Paulson and Ben Bernanke, you lieing fucks, cancel that Wall St. $700B bailout because the people are going to need it.

Not the people, but the country. It's a stack of IOUs masquerading as money. I wish the people could use it, but that's not an alternative with play money.

Originally Posted by 350zCommTech

****.......USD/YEN broke down all the way to 91 and US futures are locked. Obama or whomever, we are screwed.
.

There is a problem with circuit breakers. For stocks, which could see the same fate, the intent was that the maximum loss on the DOW could be 30%. Problem is that this is not 30% from the previous day's closing, but is calculated quarterly. Today, the DOW could lose 3,350 points before markets are shut down the rest of the day, a 38.5% loss. Other indexes, such as small caps, have been more volatile and I don't believe are subject to separate circuit breakers (correct me if I am wrong), so small caps could lose much more.