sell! sell! sell!

[Dawoofdaddy]

nice call with market today tiznow.

nasdaq getting thumped now as financials were the one horse race this morning keeping market afloat.

time to put the bulls to sleep for a while.

these mf have been chirping about their single digit returns, not realizing when weighed vs just about any other world index, and/or any other currency, their returns have been negative.

will be entertaining to listen to cnbc crying like stuck pigs if overall big 3 us indexes turn - ytd.

 

[SteamDaddy]

Steam, I dont have any trade with etfc for Im already short some subprime related stocks.

etrade doesnt look like they are going to make it.

in the on deck circle: countrywide.

the market needs to knock that one out of its misery.

bidu and google looking very shaky going into the final couple hours today.

Yeah, lots of blood in the street. Its going to be very nasty in the next couple of years. I wish I could awaken more to save em from whats coming.

 

[tiznow]

nice call with market today tiznow.

nasdaq getting thumped now as financials were the one horse race this morning keeping market afloat.

time to put the bulls to sleep for a while.

these mf have been chirping about their single digit returns, not realizing when weighed vs just about any other world index, and/or any other currency, their returns have been negative.

will be entertaining to listen to cnbc crying like stuck pigs if overall big 3 us indexes turn - ytd.

yeah very weak bear shake today but i guess with the yen doing what it was doing, was hard to pull off much of anything

asia should be interesting again tonight with yen rallying more since asian markets closed

all you gold bulls should be extremely careful here IMO

 

[Dawoofdaddy]

I spent 5 hours or so yesterday driving around various surrounding areas of this city to look around.

Eventhough some areas have apparent signs of real estate tanking, there are also pockets of this area where there are no apparent signs.

Thus, the crumbling of the real esate market is only starting and not close to completing its course.

Weve already punted everyone that owns/ed financial stocks. Next on the food chain is to punt these various tech stocks people are hiding in and the emerging markets.

If we can smash those like the financials have tanked this year, the bear cannot be ignored.

We are getting the dollar rally like I mentioned last week. So the commodities are also part of the bear party this afternoon.

Anyone holding precious metals should stand pat here and add during any corrections.

We have mr & mrs real estate humpty dumpty off the wall now...its time to move onto the next sector.

 

[tiznow]

I spent 5 hours or so yesterday driving around various surrounding areas of this city to look around.

Eventhough some areas have apparent signs of real estate tanking, there are also pockets of this area where there are no apparent signs.

Thus, the crumbling of the real esate market is only starting and not close to completing its course.

Weve already punted everyone that owns/ed financial stocks. Next on the food chain is to punt these various tech stocks people are hiding in and the emerging markets.

If we can smash those like the financials have tanked this year, the bear cannot be ignored.

We are getting the dollar rally like I mentioned last week. So the commodities are also part of the bear party this afternoon.

Anyone holding precious metals should stand pat here and add during any corrections.

We have mr & mrs real estate humpty dumpty off the wall now...its time to move onto the next sector.

i'm just not so sure about the gold i've been out of miners for a while now and only holding physical

we have a 1987 setup of sorts

markets sky high, gold sky high, oil sky high, dollar in the crapper

and when the pig gave in everything got smashed badly gold included and ESPECIALLY the miners

also you have to realize how small the PM market is in relation to the overall markets and how much hedge funds are involved, what will happen if they are forced into a corner to bail ship in a collapse...

 

[Dawoofdaddy]

Is there any reason some of you guys quote posts that you are immediately following with your own posts?

It makes this thread alot more difficult to read.

:WTF:

Financials still holding up, but tech looking very wobbly this afternoon.

Today is a lighter day than usual since no bond action to diverge vs stocks, but rest of this week should be very interesting.

 

[tiznow]

yeah markets not fully functional today

figured tuesday was going to be the interesting day following friday's action

feeling daring etfc long at 3.57 hola

 

[Dales]

Is there any reason some of you guys quote posts that you are immediately following with your own posts?

It makes this thread alot more difficult to read.

:WTF:

Financials still holding up, but tech looking very wobbly this afternoon.

Today is a lighter day than usual since no bond action to diverge vs stocks, but rest of this week should be very interesting.

re: financials, i don't get it. i think they are in for much worse maybe even this week...search the headline below in WSJ. not a good feeling for financials after reading that.

HSBC, the Subprime Seer: Sanguine View Isn't Likely

 

[tiznow]

its a bear shake on financials

they sold prior to all the big news

now that news is out they bouncing...

 

[Dawoofdaddy]

dales, tiznow is 100% correct.

no way that stocks such as citigroup are going to continue falling day after day big % without some type of short term short covering rally.

same thing can be said about dollar, gold, oil and any other financial trade.

these types of things happen all the time.

if we start seeing stocks such as C, JPM, BAC, FNM, GS, MER, BSC, cliff diving day after day, the entire financial system would be in jeopardy.

 

[tiznow]

fxp up 8.92% :aktion033

double inverse china

being able to short china easily with leverage is great

 

[Dales]

dales, tiznow is 100% correct.

no way that stocks such as citigroup are going to continue falling day after day big % without some type of short term short covering rally.

same thing can be said about dollar, gold, oil and any other financial trade.

these types of things happen all the time.

if we start seeing stocks such as C, JPM, BAC, FNM, GS, MER, BSC, cliff diving day after day, the entire financial system would be in jeopardy.

i am thinking more from an individual investor's point of view, i guess as opposed to institutional investing...is that what you are referring to? people moving big blocks for small margins?

 

[Dawoofdaddy]

the next leg down from this subprime mess is going to be auto loans and auto sales.

Soumi

 

[Dawoofdaddy]

The Emperor's New Clothes

Many years ago, there lived an emperor who was quite an average fairy tale ruler, with one exception: he cared much about his clothes. One day he heard from two swindlers named Guido and Luigi Farabutto that they could make the finest suit of clothes from the most beautiful cloth. This cloth, they said, also had the special capability that it was invisible to anyone who was either stupid or not fit for his position.
Being a bit nervous about whether he himself would be able to see the cloth, the emperor first sent two of his trusted men to see it. Of course, neither would admit that they could not see the cloth and so praised it. All the townspeople had also heard of the cloth and were interested to learn how stupid their neighbors were.
The emperor then allowed himself to be dressed in the clothes for a procession through town, never admitting that he was too unfit and stupid to see what he was wearing. He was afraid that the other people would think that he was stupid.
Of course, all the townspeople wildly praised the magnificent clothes of the emperor, afraid to admit that they could not see them, until a small child said:
"But he has nothing on!"
This was whispered from person to person until everyone in the crowd was shouting that the emperor had nothing on. The emperor heard it and felt that they were correct, but held his head high and finished the procession.

----------

This pretty much summarizes American consumers.

hola

 

[tiznow]

lets see if we get a friday repeat here with a rally that fails miserably to close

i gave up on etfc, couldn't muster a bounce with the market bounce, out of it flat

 

[tiznow]

this ones for you DAW

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

Countrywide warns on credit ratings
Mortgage lender says downgrade to junk status could limit access to capital
By John Spence, MarketWatch
Last Update: 2:07 PM ET Nov 12, 2007

BOSTON (MarketWatch) -- Embattled mortgage lender Countrywide Financial Corp. in a regulatory filing conceded that if its credit ratings fall below investment grade, its access to the public corporate-debt markets "could be severely limited."

Additionally, ratings agencies cutting its debt to junk status would lead to higher rates when the company renegotiates its financing arrangements beyond current maturity dates.

"Our ability to place custodial deposit accounts on deposit with our bank subsidiary could be affected if our credit ratings were reduced below investment grade," Countrywide (CFC) said in a Form 10-Q filed Friday.

During the third quarter, the secondary mortgage market in which Countrywide sells most of the loans it originates and relies on for funding seized up, particularly nonagency loans. As a result, the company's commercial paper came under pressure.

In response to the credit crunch, Countrywide stepped up the integration of its mortgage activities into its bank.
The three ratings agencies -- Moody's, Standard & Poor's and Fitch -- currently have investment-grade ratings on Countrywide, but they all have affixed the ratings with some form of negative outlook, Countrywide said. S&P and Fitch both rate Countrywide's long-term debt BBB+, while Moody's has a Baa3 rating. The cutoff for investment grade is considered a long-term rating of BBB-, or Baa3 from Moody's. Bonds rated below BBB- are considered junk.

As of Sept. 30, up to $5.5 billion of Countrywide's custodial deposit accounts on deposit with the bank could be affected if the credit rating fell into junk status, according to the filing.

"We also expect that a reduction in our ratings below investment grade would have a negative effect on our ability to retain our commercial deposits," the company said. "In addition, our broker-dealer may experience difficulty in conducting its trading operations if its parent is unable to maintain its investment grade credit ratings."

Countrywide said it has tapped an additional $9.2 billion in funding from "highly reliable liquidity sources."

The company said 4.9% of subprime mortgages were pending foreclosure at the end of the third quarter, up from 2.9% a year earlier.

Shares of Countrywide slipped nearly 2% in afternoon trades Monday.
John Spence is a reporter for MarketWatch in Boston.

 

[Dawoofdaddy]

new daily low for bidu a few minutes ago...same with google.

huge divergences with that stock for over a week.

looks like i took the last few crumbs off that one when i was trading it long earlier this month.

plenty of stocks people thought would go up forever are proving different now and those are the types of stocks that have to get clobbered for the bear to gain any momentum.

theyve been able to hide in names such as vmw, aapl, amzn, rimm, isrg, sohu, various oil names, solar stocks. if market takes those names down, everything will fall with it.

a intermediate term rally in us peso will also end the "companies with international exposure earnings benefit" trades, so down will tumble names like ko, pg, ba, cat, bud, etc.

:hikitty:

 

[tiznow]

yeah fxp going nuts 11.67% gain not going to well in kinky land today

shoulda had more patience on etfc popping now

 

[Dawoofdaddy]

when i have guys here in toledo, ohio at bars and bowling alleys, telling me about the us peso falling, buying solar stocks, and buying chinese stocks, im sorry, but its not the start of a new bull market.

:drink:

one other very important puzzle piece we need to finally break back of stocks' rise the past few years is redemptions.

people sitting in these mutual funds and 401k plans have to panic and start calling their funds and brokers and redeem their shares.

until large numbers of redemptions happen, mutual funds will just rotate in and out of sectors and thus the overall market cannot fall very far from the top.

at some point, 3$+ gas, home prices falling, and all this bad news coming from banking sector has to effect peoples emotions about holding equities.

 

[Dawoofdaddy]

AND DOWN GOES FRAZIER!

BIDU and GOOG being taken behind the woodshed and flogged!

:aktion033