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cyjjerry85
Elite |
06-Mar-2008 10:20
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last night DOW went to a high of 90++ points before even plunging into the negative region...the reason for being so high is not much about the services sector data (it is better than forecasted...but reading deeper into the news, it is still no good)...last night the US Markets had hopes on Ambac being bail out...their shares even went higher on hopes...but this rumour is unfounded... Ambac Slumps After $1.5 billion Share Sale Fails to Allay Rating Concerns March 5 (Bloomberg) -- Ambac Financial Group Inc. tumbled 19 percent in New York Stock Exchange trading after the bond insurer's plan to raise $1.5 billion failed to allay concern that it may lose its AAA credit rating. Investors had anticipated banks would be part of a bailout that would raise as much as $3 billion, enough to overcome record losses on subprime-mortgage debt. Instead, the New York-based company will seek buyers for $1 billion of common shares and $500 million of equity units, according to a statement today. ``This wasn't what the market was hoping for,'' said Robert Haines, an analyst at CreditSights Inc., a bond research firm in New York. ``There's no bailout. It's just a capital raise, and there's no guarantee they'll get it done.'' Ambac shares dropped and credit-default swaps rose, indicating worsening perceptions of credit quality, even though Standard & Poor's and Moody's Investors Service said today they would probably confirm the company's AAA rating after the offering. With such a limited capital raising, Ambac may not be able to keep its AAA rating for long, said Peter Plaut, an analyst with hedge fund Sanno Point Capital Management in New York. ``Ambac's capital raising might save the company's AAA ratings in the short term, but the outlook for continued writedowns and impairments to capital clearly indicates that this is not a AAA industry,'' Plaut said. |
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elisa28
Member |
06-Mar-2008 09:41
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Don't be happy just yet, just short covering from the big timer. No good news coming out from the US. | |
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Hulumas
Supreme |
06-Mar-2008 09:38
Yells: "INVEST but not TRADE please!" |
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Yes, though I am not American but it blurs me too. | |
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cyjjerry85
Elite |
06-Mar-2008 09:12
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looking at DOW charts...think the Americans are blur themselves.. |
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evercare
Member |
06-Mar-2008 08:14
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you are right, winsontkl. well, no clear direction, then better siam for the time being.. speaking for myself. | |
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winsontkl
Elite |
06-Mar-2008 07:18
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Ha...ha....a complete mirror image trading pattern as previous day.....really confuse short term traders...which direction in the near future....Up or Down???? | |
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cyjjerry85
Elite |
06-Mar-2008 02:02
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Dollar hits another low and Gold prices edges towards $1,000 | |
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cyjjerry85
Elite |
06-Mar-2008 01:16
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sianz......... Oil tops $104 for the first timeCrude supplies show an unexpected drop, sending prices to another intraday record.NEW YORK (CNNMoney.com) -- Oil prices topped $104 a barrel Wednesday for the first time ever after a government report said supplies of crude fell significantly last week, instead of rising as expected. U.S. light crude for April delivery reached $104.56, beating the previous the all-time intraday high of $103.95 set Monday. It eased slightly to $104.40, up $4.88 on the session. Oil had traded up $2.05 to $101.57 a barrel just prior to the inventory report's release at 10:30 a.m. ET. In its weekly report, the Energy Information Administration said crude stocks fell by 3.1 million barrels last week. Analysts were looking for a rise of 2.3 million barrels, according to a Dow Jones poll. The severe and unexpected decline was perhaps caused by last week's fog in the Gulf Coast region. "OPEC is more interested in the price than they are in selling oil," said Flynn. "But by trying to keep prices over $100 a barrel, they're going to end up selling less oil at a higher price." The cartel's decision came despite President Bush's pleas Tuesday that OPEC consider the "consequences of high energy prices." "I think it's a mistake to have your biggest customers' economies slowing down as a result of higher energy prices," he said.Oil prices have risen nearly five-fold since 2002. Most analysts blame rising demand and tight supply. That has also attracted floods of investment money, and exaggerated the effects of supply disruptions. |
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yipyip
Master |
06-Mar-2008 00:31
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AP No Production Boost From OPEC Wednesday March 5, 11:10 am ET By William J. Kole, Associated Press Writer OPEC to Maintain Current Production; Blames US for Economic 'Mismanagement' VIENNA, Austria (AP) -- OPEC said Wednesday it will not put more oil on the global market despite near record-high prices for crude, blaming the U.S. for economic "mismanagement" it said was having a worldwide effect.............. OPEC President Chakib Khelil told reporters the global market is being affected by what he called "the mismanagement of the U.S. economy," and that America's problems were a key factor in the cartel's decision to hold off on any action........ "In truth, OPEC's decision not to pump more oil is a reflection that supply is relatively good," said Anthony Sabino, a professor of business at St. John's University in New York. "What is driving oil prices up to the stratospheric level of over $100 per barrel is the U.S. economy, now undeniably in recession," he said. "It's not so much the price of oil is going up -- it's that the value of the U.S. dollar, sad to say, is slumping." Oil shot up a dramatic 19 percent last month as the falling dollar prompted speculators and other investors to shift cash to crude and other commodities as a hedge.... http://biz.yahoo.com/ap/080305/opec_meeting.html |
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cyjjerry85
Elite |
05-Mar-2008 23:48
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technically there ought to be rebounds la...not likely after breaking one support then so fast break another support so quickly...charts need time for trending too... but do read carefully into the reports... DOW is rising now due to a hope of Ambac being bailout ...but there's still job weakness reported and oil moving above $100 again...the service sector improve but is still considered weak ..productivity also slows along with labour costs rising... charts tell us something...but macro-environment wise...we need to analyze too |
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nono1975
Member |
05-Mar-2008 23:04
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now. 100pts. have to see the final closing pts. so lets see tmrw morning whats the final pts for us? and how asia and sti going to be. |
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elisa28
Member |
05-Mar-2008 22:51
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dow now up 50 points. | |
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Naproxen
Veteran |
05-Mar-2008 22:31
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Looking good at the moment when it opens. Hope the reports released during their day are good too. | |
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ghlau935
Veteran |
05-Mar-2008 19:22
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cyjjerry85
Elite |
05-Mar-2008 07:46
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thanks for the concern...yep probably STI will see the opposite of the DOW charts today...maybe...as some see got hope from the charts...however macro-environment and economic data when read deeply...its really still in such a bearish state | |
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evercare
Member |
05-Mar-2008 07:39
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hi cyjjerry/ winsontkl, thanks for all the updates. did you guys sleep? health is better than wealth, okay. glad that dow and nasdeq closed rather flat, time to offload for me... 
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cyjjerry85
Elite |
05-Mar-2008 07:20
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as mentioned ...12200 is still quite a credible support...it will break eventually...but not just within a day or two...need time for an index to trend up & down...before breaking it soon officially | |
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cyjjerry85
Elite |
05-Mar-2008 07:12
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Wednesday brings a bevy of economic reports, including the monthly report on private sector employment from payroll services firm ADP, which will be closely watched ahead of Friday's broader jobs report. Also on Wednesday, reports are due on factory orders and the Institute for Supply Management's reading on the services sector of the economy. | |
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winsontkl
Elite |
05-Mar-2008 06:41
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So what do you think is the actual direction??? Up....might be bullish as Dow stage once again a powerful U turn BUT not surprise that many are trap when it come tumbling down................... interesting to see how Asia market reacts..... | |
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zanetti
Member |
05-Mar-2008 04:29
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DOW stage a 100 over pts comeback in the last hour |
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