nikoschopen
2,824 posts
msg #54307
- Ignore nikoschopen |
8/23/2007 9:59:40 PM
Perhaps now you will finally understand how I worked myself up from nothing to a state of extreme poverty. (Groucho Marx)
I suppose flipping stocks is easier than flipping houses, although it can still cost you an arm and a leg if ure careless. I wouldn't be surprised if some of these flippers end up flipping burgers. ;)
At any rate, it's time for these in-ure-face televised cheerleaders to stop concocting lies and fess up. They're engaging in creative pyramid schemes to intentionally mislead the investors by downplaying the seriousness of the subprime thang when in fact not everything is so fine. This is especially evident when Pimco's Bill Gross bypasses Bernanke and directly implores to "W" to take the economic helm by rescuing the homeowners (read the article here). Now that's something to flip out about. And speaking of flipping out, there's Jim Cramer's unforgettable outburst of "The Fed is asleep at the switch!". That in itself should be taken as a wake-up call for the bears.
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nikoschopen
2,824 posts
msg #54310
- Ignore nikoschopen
modified |
8/24/2007 1:07:33 AM
Aug. 24 (Bloomberg) -- Bank of China Ltd., the nation's second-largest, headed for its biggest drop since going public last year after disclosing almost $9.7 billion of securities backed by U.S. subprime loans, the most of any Asian company.
The shares fell 5.6 percent to HK$3.86 at 11:10 a.m. in Hong Kong after earlier plunging as much as 8.1 percent. Bank of China was the biggest decliner among 41 stocks on the Hang Seng China Enterprises Index, which tracks mainland companies listed in Hong Kong. Its Shanghai-traded shares rose 2 percent today, as the CSI 300 Index headed for its biggest weekly gain since the benchmark was introduced in April 2005. (Italics added)
"Don't panic," Citigroup Inc. analyst Tracy Yu said today in a note to clients. More than 97 percent of Bank of China's subprime portfolio is rated AA or higher, she wrote.
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What a full of crap! Only the amateurs at this stage of the market cycle would believe such BS. And why the hell is the Chinese market soaring when the rest of the Asian markets are dragged down? It must be run by ill-advised amateurs. Well, go figure.
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wantonellis
161 posts
msg #54315
- Ignore wantonellis
modified |
8/24/2007 8:35:58 AM
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roheba
20 posts
msg #54319
- Ignore roheba |
8/24/2007 2:19:23 PM
Hey all,
Quick question from a newbie: Is there a way to "comment out" a segment of a filter I'm playing with? I'm tired of deleting and re-typing.
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nikoschopen
2,824 posts
msg #54320
- Ignore nikoschopen |
8/24/2007 3:28:34 PM
Is there a way to "comment out" a segment of a filter I'm playing with? I'm tired of deleting and re-typing.
You can delineate comments with a pair of C-like delimiters (/*) (ie. /*This is a comment*/)
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nikoschopen
2,824 posts
msg #54321
- Ignore nikoschopen |
8/24/2007 3:32:17 PM
Geezus, I smell something totally rotten. The market is pushed up on very thin volume. How am I suppose to interpret this?
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msummer2007
129 posts
msg #54322
- Ignore msummer2007 |
8/24/2007 3:50:19 PM
Just a bit of short covering. Don't get to wrapped up in this rally. Every other word out of CNBC is of a bullish tone. Would you be a buyer at these levels, knowing the second wave of selling is coming?
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nikoschopen
2,824 posts
msg #54323
- Ignore nikoschopen |
8/24/2007 4:21:43 PM
Incredible. The S&P eMini shot up 17 points on only 1.2M shares, which is about roughly half of the average volume for the week.
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maxreturn
745 posts
msg #54324
- Ignore maxreturn |
8/24/2007 4:34:51 PM
Niko...you said it yourself. VERY thin volume. But like you I did not expect this rally to go this far. I've been waiting for a short signal for the last 3 days. Never got it :) This volume clue would lead me to believe that we're going to retest the recent lows BUT....look at a weekly chart. Strong weekly close above the weekly high last week. Looks very bullish EXCEPT for the volume.
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nikoschopen
2,824 posts
msg #54325
- Ignore nikoschopen
modified |
8/24/2007 4:44:13 PM
Max,
I would agree that it's a little worrisome to see the S&P close above not only the 200-day moving average but the trendline as well. However, the volume was anemic throughout the week, indicating a lack of conviction, and it's technically still under its 50-day moving average. I went short at the close yesterday and was kicked out with my bare ass exposed. Ahh, that's life I suppose.
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