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STI vs DOW
cyjjerry85
Elite
09-Aug-2007 23:17     
 
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 Alert Admin 		wonder if it will be a red DOW ....if so, will it affect our National Day rally? PM Lee gave an extremely good speech and increase confidence in our economy bullishness... 
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iTrader
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09-Aug-2007 22:32     
 
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Reason for DOW's Drop
Fed Move Aimed Helping European Banks, Not Those in U.S.
By Steve Liesman | 09 Aug 2007 | 10:18 AM ET
Font size:

The Federal Reserve's addition of liquidity to the banking system was aimed at helping U.S. banks provide funding to European banks rather than a problem within the U.S. banking system itself.

The Fed added a total of $24 billion of funds to the banking system Thursday, some $9 billion more than analysts had expected. The Fed typically adds or subtracts funds from the banking system on Thursdays in order to keep the financial system running smoothly.

The Fed move was in addition to the $129 billion that Europe's central bank injected into its banking system after France's biggest listed bank, BNP Paribas, froze $2.2 billion worth of funds on Thursday, citing U.S. subprime mortgage sector problems.

The BNP news sent shivers through nervous financial markets and caused stocks in Europe and the U.S. to fall sharply, while U.S. Treasurys rallied as investors sought safe havens.

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pikachu
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09-Aug-2007 22:19     
 
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 Alert Admin 		Dow is in the red 130 points already... jia lat.
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tiderush
Member
08-Aug-2007 23:38     
 
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http://money.cnn.com/2007/08/07/markets/cooperman_market_analysis.fortune/index.htm?postversion=2007080810

 

heyz, saw this commentary on cnn, rather convincing statement on the economy to me though... views?:)
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Pinnacle
Master
08-Aug-2007 09:04     
 
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U.S. stocks rose on Tuesday after the Federal Reserve said it still saw moderate economic growth ahead even though credit conditions have tightened for some consumers and businesses. The Fed, which also left interest rates unchanged at a policy meeting, buoyed the market by reassuring investors that problems in mortgage lending and corporate finance would not drag on the broader economy. Financial shares rebounded after some initial disappointment that the Fed did not signal a rate cut as investors embraced the central bank's sanguine outlook.

The Dow Jones industrial average rose 35.52 points, or 0.26 percent, to end at 13,504.30. The Standard & Poor's 500 Index gained 9.04 points, or 0.62 percent, to finish at 1,476.71. The Nasdaq Composite Index advanced 14.27 points, or 0.56 percent, to close at 2,561.60.

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mirage
Veteran
08-Aug-2007 08:57     
 
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I agree with the post by ghalau935 for the article below, (posted at "felowship of the shares")

ghlau935
Senior 		Posted: 08-Aug-2007 08:48
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Here's a fact: The speculators and hedge fund managers who run today's stock market need market volatility in order to make money.


They can't make enough money if the market stays flat or moves only a bit, so they like extreme and unexpected price movements. They especially like sudden, surprise movements down, when they can make money off stocks they borrow and sell -- or, as they say, "sell short."


Money Lust Satisfied


That's what's been happening the past couple of weeks. But it's not interesting to say that the speculators are whipping the market around to satisfy their money lust. So the speculators themselves make up reasons for why the market is fluctuating, flog those reasons to the media, and then profit if some other speculators believe the jive reasons and jump in the way the manipulators want them to.

Supposedly, the market is "correcting" because of worries about the housing slowdown, and also because of fears that the debt markets that support mergers and acquisitions is drying up.


These are interesting theories, and people who don't know a lot about the stock market or the economy might find them beguiling. What follows are a few truths that show how shallow these "reasons" for the stock market moves are.

Housing a Theory


Yes, the housing market has slowed from a spectacular bubble level to a simply pretty good level. Housing sales and starts are now about what they were in 2002, and no one thought we were in a housing depression then.


In any event, housing is only about 5 percent of the economy. If it falls by 15 percent, that would represent a fall-off of about .75 percent. That's not trivial, but it's also not the stuff of which recessions are made.


The fact is that there is no recession. The economy is suffering from a labor shortage, not a surplus of unemployment. The Fed is worried about excess demand, not slack demand.


Corporate profits set new records every day. Whatever's happening in residential sales and building is simply not slowing down the economy. Why should a Boeing or a Merck or a Pfizer have any reaction to housing at all? Because the speculators sell everything they can when nervousness sets in -- and for no other reason.

A Minor Major Mess


Subprime is a mess. But it's a small mess. Subprime mortgages account for roughly 20 percent of mortgages even in the most heavily exposed states. About 20 percent of them are delinquent in some way. That's 4 percent of mortgages.


Of these, maybe half, or 2 percent, will go into foreclosure. There will be roughly 50 percent recovery on sale of these. This is a loss of 1 percent in the mortgage market -- a sum the lenders have already made many times over because of the hefty fees on those deals. In the context of the size of the U.S. financial sector, it's nothing.

And why should a crisis in subprime drive down stocks in Mexico and Thailand? Again, because the speculators seek to create panic to make money by selling short, and they sell short everything.


There's simply no connection between subprime and developed or developing nations' stocks. This by itself shows the thin context of the selling wave late last month.

Money's Still Cheap


What about the supposed drying up of loans for mergers and acquisitions by private equity firms? Well, here's a good, simple test of just how valid that explanation is for stock market moves: The majority of private equity takeovers are financed with junk debt.

If there really were a major shortage of funds for these deals, the interest rate on the junk would skyrocket. Instead, while the rate has risen by about 150 basis points in the past month, the spread between junk and investment grade is now about 290 basis points, according to leading junk analyst Martin Fridson.

This is a lot lower than the year-end average of the spread from 2002 to 2006, and far below the almost 800 basis point spread during a true interest-rate crunch like the one after the tech meltdown in 2000-2002.


So that's phony, too. Interest rates have risen, but not anything like what they've done in real crises. And besides, the Dow fell by about 550 points the week before last, yet not one of the Dow stocks is involved as either acquiror or acquiree in a private equity deal.

In short, money is no longer virtually free the way it was for private equity deals in the past year. But it's not expensive by historical standards, either.


Spreading the Fear


In other words, it's all the speculators trying to panic us so their sell programs will make money. And they'll make money as long as they can spread their panic. When they can't do that any longer, they'll work the long side -- and make up reasons for that, too.


In the meantime, the economy is strong. Profits are great, and interest rates are low and will stay that way. Don't sell. With all the shrieking about the market, it only fell to what it was about five weeks ago -- and we didn't think we were poor then.

So let the speculators shout "fire." As of right now, they're not blowing anything but smoke
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timewatch
Senior
07-Aug-2007 10:52     
 
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 Alert Admin 		Indian market might be doing much better then the STI market.
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des_khor
Supreme
07-Aug-2007 10:19     
 
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 Alert Admin 		This is T wave ( tsunami ) !! not others wave !!
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chipchip66
Master
07-Aug-2007 09:53     
 
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Market is treading very cautiously. Selling pressure has subsided. STI on recovery mode. Time to bargain hunt. Cheers!Smiley
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mirage
Veteran
07-Aug-2007 08:48     
 
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QUOTES:

DOW is up 286.87 to 13,468.78
MARKET SNAPSHOT
Stocks rally as financial shares rebound
Dow jumps 286 points to its best day since 2003
By Nick Godt & Leslie Wines, MarketWatch
Last Update: 5:07 PM ET Aug 6, 2007



NEW YORK (MarketWatch) -- Stocks rallied to a sharply higher close Monday, sending the Dow industrials up by over 280 points for its best day since 2003, as investors snapped up financial shares, which have been heavily hit in recent weeks amid concerns about credit markets and bad home loans.
"When you snap a rubber band too much one way, it has to kick back the other way," said Donald Selkin, director of equity research at Joseph Stevens, referring in particular to financial shares.
"They've been coming down so much recently, with all the bad news about Bear Stearns and others," he said. "Is it sustainable? We'll see. We were at very oversold levels for this market, but we have to be a bit skeptical as long as the Nasdaq keeps lagging badly behind."
Chart of $INDU
The Dow Jones Industrial Average ($INDU :
Dow Jones Industrial Average
Last: 13,468.78+286.87+2.18%
4:30pm 08/06/2007
Delayed quote data
Sponsored by:
$INDU13,468.78, +286.87, +2.2%) finished up 286 points at 13,468, marking its best one-day performance since June 2003, and making up for its 281-point plunge on Friday.
Out of the Dow's 30 stocks, 29 advanced, led by financial shares such as American International Group. (AIG :
American International Group, Inc
Last: 64.56+2.92+4.74%
8:04pm 08/06/2007
Delayed quote data
Sponsored by:
AIG64.56, +2.92, +4.7%) , Citigroup Inc. (C :
Citigroup, Inc
Last: 48.35+2.63+5.75%
8:06pm 08/06/2007
Delayed quote data
Sponsored by:
C48.35, +2.63, +5.8%) , and JP Morgan Chase & Co. (JPM :
jp morgan chase & co com
Last: 45.11+1.46+3.34%
8:13pm 08/06/2007
Delayed quote data
Sponsored by:
JPM45.11, +1.46, +3.3%) .
Also on the Dow, Merck & Co. Inc. (MRK :
Merck & Co., Inc
Last: 51.35+1.06+2.11%
8:15pm 08/06/2007
Delayed quote data
Sponsored by:
MRK51.35, +1.06, +2.1%) gained 2.1% after Cowen & Co upgraded the stock, while Wal-Mart Stores Inc. (WMT :
Wal-Mart Stores, Inc
Last: 47.02+1.50+3.30%
8:00pm 08/06/2007
Delayed quote data
Sponsored by:
WMT47.02, +1.50, +3.3%) rose 3.3% after saying it is setting up a joint business-to-business venture in India.
The S&P 500 ($SPX :
S&P 500 Index
Last: 1,467.67+34.61+2.42%
5:00pm 08/06/2007
Delayed quote data
Sponsored by:
$SPX1,467.67, +34.61, +2.4%) gained 34 points to 1,467, while the Nasdaq Composite (COMP :
Nasdaq Composite Index
Last: 2,547.33+36.08+1.44%
8:00pm 08/06/2007
Delayed quote data
Sponsored by:
COMP2,547.33, +36.08, +1.4%) rose 36 points to 2,547.
"There's also hope that the [Federal Reserve] is going to change its tone," Selkin said.
While the central bank, which meets Tuesday, is widely expected to leave interest rates unchanged, investors hope it will signal some concern about credit markets.
Trading volumes showed 2.2 billion shares exchanging hands on the New York Stocks Exchange and 2.8 billion shares trading on the Nasdaq stock market. Gaining issues topped decliners by 17 to 15 on the NYSE, while decliners topped gainers by 8 to 7 on Nasdaq.
S&P, others to the rescue
The rally accelerated in afternoon trade after a managing director at Standard & Poor's said that the market had overreacted to S&P's decision Friday to lower its ratings outlook on Bear Stearns (BSC :
The Bear Stearns Companies Inc
Last: 113.81+5.46+5.04%
8:06pm 08/06/2007
Delayed quote data
Sponsored by:
BSC113.81, +5.46, +5.0%) .
Some investors are also trying to find some value in some of the most battered shares of the financial sector.
In a note, Thomson Financial analyst Michael Thompson said that four broker/dealers Morgan Stanley (MS :
morgan stanley com new
Last: 64.03+3.41+5.63%
8:15pm 08/06/2007
Delayed quote data
Sponsored by:
MS64.03, +3.41, +5.6%) , Merrill Lynch (MER :
Merrill Lynch & Co., Inc
Last: 74.55+4.50+6.42%
8:15pm 08/06/2007
Delayed quote data
Sponsored by:
MER74.55, +4.50, +6.4%) , Lehman Brothers (LEH :
Lehman Brothers Holdings Inc
Last: 58.27+2.49+4.46%
8:14pm 08/06/2007
Delayed quote data
Sponsored by:
LEH58.27, +2.49, +4.5%) and E-Trade Financial (ETFC :
e trade financial corp com
Last: 16.19+0.24+1.50%
8:00pm 08/06/2007
Delayed quote data
Sponsored by:
ETFC16.19, +0.24, +1.5%) are among the most undervalued stocks of the sector.
E-Trade Financial (ETFC :
e trade financial corp com
Last: 16.19+0.24+1.50%
8:00pm 08/06/2007
Delayed quote data
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TuaPekGong9413
Elite
07-Aug-2007 08:41     
 
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 Alert Admin 		Ever notice that when Dow is down,singapore also down...but when dow is up,not necessarily STi will go up....
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Pinnacle
Master
07-Aug-2007 08:35     
 
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Tonight Fed will meet and talk about current situation and sub-prime issues.

Although the rate is not expected to be increase, its also not expected to be lowered.

And if you ever notice, Bernanke never mention anything encouraging before.

So careful on what you pick today.
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Livermore
Master
07-Aug-2007 07:25     
 
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 Alert Admin 		Invest and don't trade
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cyjjerry85
Elite
07-Aug-2007 01:30     
 
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yep Des_Khor...how could one ever trade in peace during such market... Look at this report :

"NEW YORK, Aug 6 (Reuters) - U.S. stocks rebounded on Monday in a rally driven by bargain hunting, bucking global fears of a credit crunch that punished European and Asian markets, though the dollar and oil both succumbed to concerns the economy was braking."

if the reason behind a positive DOW is because of bargain hunting...the foundation is weak...simply still weak 
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cashiertan
Elite
07-Aug-2007 01:28     
 
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 Alert Admin 		DOW havent complete wave B which will follow by a massive down wave C. 
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des_khor
Supreme
07-Aug-2007 00:10     
 
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 Alert Admin 		one day up ., the nexy day down ! the next next day up again but the next next next day down again !!! never see before this type of market condition !! HOW TO TRADE ??? can go siau man......
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cyjjerry85
Elite
07-Aug-2007 00:06     
 
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 Alert Admin 		even if see green...would investors dare to plunge in? lessons learnt and many burnt...initially our mid-term trend (2-6 months) was still quite encouraging...a bull run on forecast..however this DOW has really made STI DOWN...and we are deeply affected...the mid-term trend is now a bear...well...this is speaking on the technical analysis point of view
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ricola
Member
06-Aug-2007 23:51     
 
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Whether it is +ve, have to wait until end of the day...now might be too early to say so. 
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timewatch
Senior
06-Aug-2007 23:49     
 
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 Alert Admin 		positive DOW tonight should be good for STI, praise the lord.
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cyjjerry85
Elite
06-Aug-2007 23:40     
 
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 Alert Admin 		even with a positive DOW tonight...i would say the STI will remain extremely cautious...
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