sell! sell! sell!

[tiznow]

Jdog, tonights 60 minutes has a pretty interesting opening segment about the real estate crash.

You are a fawking real wise guy...only 37 and able to pull that real estate bait and switcheroooooooooooooooo.

Stockton, CA is the feature of the segment.

Front and center showing the amount of utter stupidity people thought about real estate.

Unfortunately, too many people still dont get it.

:drink:

yeah saw that segment to

the main thing i took away from it that i already didn't have in my head prior

is how many people who got in at the wrong time, and are walking away from homes since it makes no sense to stay, but at the same time their credit has gone to shit

as far as my no one left to take on any debt argument

 

[tiznow]

well not much going on overseas

everything red in asia as expected following US lead on friday but not super bloody

us futures off a bit (dow futures down 31)

yen carry trade flat

 

[tiznow]

china down 4% the big loser on the night so far

~6100 to 4580 fall since the peak or 25% fall

 

[tiznow]

lets see if china blows onto new lows here

last low put in at 4510, now at 4546 down 4.57% on the day

4514 now down 5.19% does china bounce at the lows or blow right though?

4502 might have to put china on crash alert soon

 

[tiznow]

well china fell as low as 4483, than came back to retest the 4510 area got to 4518 or so, and fell off again entering rice (lunch) break to 4500

bbl to keep my eye on it

 

[tiznow]

yen got bought pretty hard right when china took its lunch break (aka yen carry trade unwind got going)

panic keeps building worldwide so it seems

 

[tiznow]

mother nature partially to blame in china?

------------------------------------------------------------

China's Snowstorms Cause More Deaths, Traffic Woes, Xinhua Says

Jan. 28 (Bloomberg) -- China's death toll from snowstorms that have hit half the country continued to rise as thousands were left injured and travelers stranded in the freezing conditions, Xinhua News Agency said, citing local governments.

A bus carrying 41 people overturned on a slippery freeway in eastern Jiangxi province early yesterday, killing five people, including two children, and injuring 10 others, Xinhua said in a story late yesterday evening.

In the southwestern province of Guizhou, five people died and 1,631 homes collapsed, the agency said. Bad weather also stranded more than 40,000 passengers in at least 5,000 broken- down vehicles on expressways between Guizhou and neighboring Guangxi Zhuang Autonomous Region, the report said.

In the central province of Hunan, seven people have died and snow is affecting the lives of 25.22 million people in 14 cities and 112 counties, Xinhua said.

In the eastern province of Jiangsu, the heaviest snow since 1984 closed the airport in the provincial capital of Nanjing yesterday, Xinhua said. As many as 600,000 people may be stranded at the Guangzhou railway station in the southern province of Guangdong because of power failure, the agency said.

 

[Hitman26]

I'm going to put on a short in the morning because I think AGN is going have a little mini Cramer pop because he highlighted on his show Friday. Of course I will do it through puts to limit my exposure. AGN reports Wednesday and I want to be infront of that to give me a good shot to the downside. I will post the trade in the morning. Hopefully the futures will rebound so I can get an even bigger pop.

 

[hellah10]

damn Japan is getting hammered... down 5%... Shanghai down 6%

Sydney is closed due to Australia Day I believe... be interesting at 930...

 

[tiznow]

well china ONLY down 7.19% dow futures off 140 should be interesting monday

 

[Hitman26]

Tizzy:


What website are you getting your futures data from?


I'm using this but you seem to always have different numbers than me.



http://www.bloomberg.com/markets/stocks/futures.html

 

[tiznow]

http://money.cnn.com/data/premarket/index.html

only off 74 now

 

[Hitman26]

Ok I shorted AGN with Jul 75 puts for 12.2$ per share this morning.

 

[tiznow]

well the yen carry trade came back so we holding up okay for now

new home sales in 2007 already worse than 1980

-----------------------------------------------------------

New Home Sales Fall
Monday January 28, 10:23 am ET
By Martin Crutsinger, AP Economics Writer <table border="0" cellpadding="0" cellspacing="0" height="4"><tbody><tr><td height="4">
</td></tr></tbody></table>New Home Sales Dropped in 2007 by a Record Amount; Prices Posted Weakest Showing in 16 Years WASHINGTON (AP) -- Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.

The Commerce Department reported Monday that sales of new homes dropped by 26.4 percent last year to 774,000. That marked the worst sales year on record, surpassing the old mark of a 23.1 percent plunge in 1980.The government reported that the median price of a new home barely budged last year, edging up a slight 0.2 percent to $246,900, the poorest showing since prices fell by 2.4 percent during the 1991 housing downturn.
The new report reinforced the view that housing is currently undergoing its worst downturn in more than two decades, with the slump threatening to surpass in some ways the severe housing recession of the early 1980s.


The housing weakness has dragged down overall growth and sent shockwaves through the rest of the economy including the financial sector, which is dealing with billions of dollars in losses in subprime mortgages. Some analysts are worried that the fallout could become so severe it will drag the entire country into a recession.


The Federal Reserve unexpectedly cut a key interest rate by the largest amount in more than two decades last week following an emergency meeting, and it is expected the Fed will cut rates further at a regular rate-setting meeting this week.


The 26.4 percent drop in sales for 2007 represented weakness in every part of the country except the Northeast, where sales posted a small 1.6 percent advance. Sales recorded declines of 32.2 percent in the West, 26.7 percent in the Midwest and 26.3 percent in the South.

 

[tiznow]

people even cutting back at mcdonalds too say it ain't so!!!

--------------------------------------------

http://biz.yahoo.com/ap/080128/earns_mcdonald_s.html?.v=8

U.S. Sales Slowdown Hits McDonald's
Monday January 28, 10:25 am ET
By Dave Carpenter, AP Business Writer
McDonald's Shares Dive on U.S. December Sales Slowdown Despite $1.27B 4Q Profit.

CHICAGO (AP) -- McDonald's Corp. served notice Monday that sales at U.S. restaurants open at least a year were flat last month as consumers tightened their wallets, heightening concerns on Wall Street even as it reported fourth-quarter profits of $1.27 billion. Its stock fell sharply.

The world's largest fast-food chain also cited severe winter weather as a reason for the weakness in U.S. comparable sales, which were more than offset by international sales gains.

But investors worried about the impact of a possible recession overlooked the impressive fourth-quarter results, which capped a strong year for McDonald's, focused instead on slowing sales and sold McDonald's stock heavily.

Shares in the Oak Brook, Ill.-based company, already down 7 percent since the first evidence of a December sales slowdown surfaced two weeks ago, shed another $3.91, or 7.2 percent, to $50.19 in morning trading.

"Weak U.S. trends are likely to put some pressure on the stock until investors have a sense of whether December was a one-month outlier or a new trend," RBC Capital Markets analyst Larry Miller said in a note to investors.

 

[tiznow]

well they definitely in trash the dollar mode today only way they can keep this puppy afloat

gold 922

weeee....

 

[tiznow]

gold really popping now 926

commodities flat overall though CRB slightly red, oil down

 

[hellah10]

woohoo gold $16 today

 

[tiznow]

its a dollar trashing party weeee get your bear shake on

gotta get lotsa green before dubya's recession saving state of the union tonight

ope::fatboy:arty:

:chest: gold keeps climbing 928

 

[tiznow]

so what's it gonna be on wednesday boys and girls?

25 bp or 50 bp?

gonna be one or the other almost surely

i leaning towards 25 bp right now