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yipyip Master	25-Oct-2007 08:02        yipyip About Contact  Quote this Post!
x 0   x 0  Alert Admin	Home Sales Plunge by 8 Percent Wednesday October 24, 6:24 pm ET By Martin Crutsinger, AP Economics Writer  Sales of Existing Homes Fall by Largest Amount on Record in September The National Association of Realtors reported Wednesday that sales of existing homes fell 8 percent in September. It was the largest decline to show up in records dating to 1999. The seasonally adjusted annual sales rate of 5.04 million existing homes was the slowest pace on record. http://biz.yahoo.com/ap/071024/economy.html?.v=21
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Fairygal Veteran	25-Oct-2007 07:18        Fairygal About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	What a ride on DOW! Hopefully STI doesn't behave in the same way today!Too big a volatile range is bad fo the blood pressure!
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Pinnacle Master	24-Oct-2007 23:23        Pinnacle About Contact  Quote this Post!
x 0   x 0  Alert Admin	Its for the daring... Sorry, I chicken out.
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smltimer Senior	24-Oct-2007 23:19        smltimer About Contact  Quote this Post! Style: Technical   Mood: Yells: "So what does the crystal ball say ......."
x 0   x 0  Alert Admin	haha....pinnacle u bet sti cheong is it
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Pinnacle Master	24-Oct-2007 23:18        Pinnacle About Contact  Quote this Post!
x 0   x 0  Alert Admin	DJ had dropped more than -120pts. Anyone want to bet STI will cheong tomorrow?
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ericsim Senior	24-Oct-2007 17:33        ericsim About Contact  Quote this Post!
x 0   x 0  Alert Admin	damn, tomorrow going to be another bloody day. look at the report -   Merrill Lynch to Report $2.5 Billion in Added Loss =====================================  Published: October 24, 2007  Merrill Lynch is expected to report today that it will add about $2.5 billion more to the $5 billion worth of write-downs it has already announced, according to a person briefed on the situation.   Merrill reports its third-quarter earnings this morning. The bank announced earlier this month that it expected to write down $5 billion because of losses in its fixed-income unit. Most of the losses, the bank said, were tied to the decline in value of complex debt instruments called collateralized debt obligations, whose value has diminished in recent months as credit markets have been hit by a collapse in the subprime mortgage market.   A Merrill spokesman declined to comment.   The additional write-down, coming so soon after the companys $5 billion charge, may raise more questions about the leadership of E. Stanley ONeal, Merrills chief executive, and the ability of his top executives to assess the firms risk exposure.   Since he took over in December 2002, Mr. ONeal has pushed Merrill into riskier businesses which, if managed well, tend to produce higher returns. That strategy has taken Merrill Lynch deeper into fixed-income markets like commodities and mortgages, areas outside of its traditional strengths of wealth management and equities.   The foray into fixed income has been messy, with various teams of executives being promoted and then fired.   Last July, Jeffrey W. Kronthal and Harry Lengsfield, two senior fixed-income officials, left after Osman Semerci, who had worked in fixed-income sales in various posts in Asia, was put in charge of a newly formed unit called fixed income, commodities and currencies.   At the time, the global markets and investment banking group was run by Gregory J. Fleming, who oversaw investment banking, and Dow Kim, who oversaw trading. In May, Merrill said that Mr. Kim was leaving to start a hedge fund.   But in July, the credit market collapsed and many Wall Street banks were caught with commitments to lenders that they could not resell and collateralized debt obligations that started to deteriorate sharply in value.   Merrill wrote down $4.5 billion worth of subprime loans and collateralized debt obligations and $463 million, net of hedges, in commitments to fund loans.   As a result of the losses, Mr. Semerci, 39, and Dale M. Lattanzio, the head of structured credit products, were dismissed. David Sobotka, 50, was made the head of fixed income. All ties with Mr. Kim, who had left the firm but still had an office, were cut.   Yesterday, Brad Hintz, an analyst with Sanford C. Bernstein & Company, said he expected Merrill to pull back in fixed income, even though some of the markets were improving.   After this publicly embarrassing write-down, we would expect senior management to sharply tighten its risk management limits to reduce trading volatility, Mr. Hintz wrote, referring to Merrill.   He predicted that a back to basics retrenchment of the business will cost approximately $1.0 billion in net income, or about $1.10 in earnings per share for 2008.   After Merrill announced its original $5 billion write-down, Moodys and Fitch downgraded Merrills long-term debt outlook to negative from stable. Moodys said the write-down, which had been forecast at about $4 billion, exceeded expectations. As a result, Moodys assessment of the quality of risk management at Merrill Lynch has diminished.   In July, after the firm reported second-quarter earnings, Mr. ONeal sent a memo to employees reassuring them that the banks risk management was strong. We get paid to manage risk and operate in markets during ups and downs, the memo said. This time is no different.
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Pinnacle Master	24-Oct-2007 17:20        Pinnacle About Contact  Quote this Post!
x 0   x 0  Alert Admin	That's because DJ future already -67. STI is sandwich in between. For STI to cheong, previous night and coming night has to be good.
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Sporeguy Elite	24-Oct-2007 17:13        Sporeguy About Contact  Quote this Post!
x 0   x 0  Alert Admin	DJ went up by 109 pts or 0.8 %. STI should also go up by 0.8% which is 30 pts, but instead it went down by 25 pts!
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sean68 Member	24-Oct-2007 15:41        sean68 About Contact  Quote this Post!
x 0   x 0  Alert Admin	24-10-2007 14:48:48 GLOBAL MARKETS-Stocks turn lower as credit worries fester (Updates with fresh prices, European forecasts) By Ian Chua HONG KONG, Oct 24 (Reuters) - Asian stocks gave up early gains on Wednesday as investors fled to the relative safety of government bonds, with the mood souring ahead of results from major U.S. financial firm Merrill Lynch . European shares were set for a cautious start with investors eyeing a rush of corporate results from major firms such as GlaxoSmithKline , the world's second largest drugmaker, and German drug and chemicals firm Merck . Oil held near $85 a barrel after having fallen in the previous session on signs OPEC was ramping up output. Worries that Merrill Lynch will post worse than expected results later in the day were fanned by U.S. newspapers, which reported that the financial giant's third quarter bond-related write-downs could be some $2 billion or more than its earlier forecasts of $5 billion. [ID:nN24335844]. "Stocks fell on the reports and currency markets reacted to the stock market slide, which triggered risk reduction moves and cross/yen selling," said a senior dealer at an European bank. That offset optimism about earnings after solid results from technology firms such as Apple Inc this week that had helped markets rise in early trade. A broad rebound in the yen prompted some investors to sell Japanese exporters like Honda Motor <7267.T> and Canon Inc <7751.T>, which tend to be hurt by a stronger Japanese currency as it weakens the value of dollar sales. Tokyo's Nikkei average <.N225> ended 0.6 percent lower, reversing early gains of 0.8 percent, while MSCI's measure of other Asia Pacific stocks <.MIAPJ0000PUS> was flat by 0624 GMT. Earlier, the MSCI index rose nearly 2 percent and came just half a percent away from the record high set on Oct. 11. It is up about 40 percent this year. South Korea's KOSPI <.KS11>, Australia's S&P/ASX 200 index <.AXJO>, Singapore's Straits Times Index <.STI>, India's BSE index <.BSESN> and Taiwan's TAIEX <.TWII> all turned lower. "Short-term investors took profits from the market's rise earlier today and yesterday," said analyst Kevin Chung of Jih Sun Investment Consulting Co. in Taiwan. BANKS SAG Banks all fell as credit worries returned to the fore amid worries about earnings for Merrill Lynch. Australia's Macquarie Bank , Japan's Mitsubishi UFJ <8306.T>, HSBC <0005.HK> and Singapore's DBS lost between 0.4 percent to 2.8 percent. Resource stocks such as global miner BHP Billiton and gold producers Newcrest Mining also reversed direction, as base metals and gold prices eased on worries about slowing demand. Gold slipped to $757.20 an ounce, but was still not too far off the 28-year peak of $770 set on Friday. YEN FIRMER The fall in stocks encouraged investors to unwind carry trades, which involves selling low-yielding currencies such as the yen to buy higher-yielding and higher risk assets. The dollar slipped towards 114 yen after nearly touching 115 yen, while the euro dipped below 163 yen , off a high near 164 yen. Against the dollar, the single European currency was little changed at around $1.4250, holding on to most of Tuesday's gains. Even the Australian dollar , which jumped above 90 U.S. cents after stronger-than-expected inflation data boosted rate hike expectations, shed those gains to be little changed. [ID:nSYU003343] Safe-haven Japanese government bonds benefitted from the rise in risk aversion, sending yields lower. The benchmark 10-year yield fell one basis point to 1.570 percent. U.S. Treasuries also edged up in Asia ahead of U.S. housing figures that were expected to cement expectations that the Federal Reserve will cut interest rates at next week's meeting.
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jasonfaxingliu Senior	24-Oct-2007 15:19        jasonfaxingliu About Contact  Quote this Post!
x 0   x 0  Alert Admin	DJ future is not as worse than yesterday when DJ went to positive +100 points, so don't make people panic
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limhpp Veteran	24-Oct-2007 15:17        limhpp About Contact  Quote this Post!
x 0   x 0  Alert Admin	DJIA futures worse off now. I think to be on the safe side, I will stay sideline....
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CWQuah Master	24-Oct-2007 15:09        CWQuah About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	Hmm... looks like index rebounded a bit earlier than I calculated. Anyway, it looks like today STI will close either slightly -ve or flat around 3689. If DJIA futures suddenly become much less negative, STI may close just above 3700.
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mywebid1 Member	24-Oct-2007 15:05        mywebid1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Merrill Report Sends Asian Stocks Lower, Banks Tumble. Refer to URL for full report. http://www.cnbc.com/id/21443686
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CWQuah Master	24-Oct-2007 15:02        CWQuah About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	Actually it's just that most of the indices are responding to DJIA futures.
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hyun78e Member	24-Oct-2007 14:46        hyun78e About Contact  Quote this Post! Style: Combined   Mood: Yells: "BE REAL"
x 0   x 0  Alert Admin	HI, all I think this is like it's like a Tsunami after earthquake.... Look at the world indecises.... it's not BBs play. or anything. Something must had heppened last 2 hours in Hongkong or China..
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Fairygal Veteran	24-Oct-2007 14:32        Fairygal About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	It's like an invisble wave. For some counters, the decline in price is more than Grey Monday 2 days ago, eg Comfortdelgro. However, there are some counters still very much in green. Kospi was up more than 1%, now also in the red.
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hyun78e Member	24-Oct-2007 14:26        hyun78e About Contact  Quote this Post! Style: Combined   Mood: Yells: "BE REAL"
x 0   x 0  Alert Admin	It's Not only STI... Most of Aisa Market is going down or hold... Like KOSPI... as soon as HongKong market slowed down it started to drop.. Something is going on..... what is it... anyone.....................................!!!!!!!
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ngw050873 Member	24-Oct-2007 14:19        ngw050873 About Contact  Quote this Post!
x 0   x 0  Alert Admin	lai liao....STI in red now...
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CWQuah Master	24-Oct-2007 12:26        CWQuah About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	STI should be going down again a bit more, probably rebound up a bit in the afternoon, most likely after 3.30. If the rebound doesn't happen, watch out.
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Pinnacle Master	24-Oct-2007 12:10        Pinnacle About Contact  Quote this Post!
x 0   x 0  Alert Admin	Because many locked in their profits from the technical rebound that started yesterday. Also many are awaiting the release of DBS and UOB quarterly results on Friday and Monday. Furrthermore, DJ future do not look promising. So they everyone is trading with caution.
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