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cashiertan
Elite |
17-Jan-2008 20:46
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US may go into a depression hence i hope ppl who like to spend freely better start saving.. | ||||||||||||
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cashiertan
Elite |
17-Jan-2008 20:19
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NEW YORK, Jan 17 (Reuters) - Merrill Lynch & Co Inc (MER.N: Quote, Profile, Research) on Thursday said it took a $14.1 billion write-down in the fourth quarter on bad subprime mortgage bets plus other charges that have forced the brokerage to sell pieces of the company to foreign investors to raise capital. Merrill Lynch reported a fourth-quarter net loss of $9.8 billion, or $12.01 a share, the largest in the company's history. That eclipses the company's $2.3 billion loss in the previous quarter. (Reporting by Tim McLaughlin, editing by Mark Porter) oh gosh. it seem worst than expected.. no wonder UK in red now. more bloodshed for DOW and sti tomolo? friday option expiry is on fri.. expect some swings ahead.. |
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cyjjerry85
Elite |
17-Jan-2008 13:25
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yep...while anticipating the rate cut...many might still remember wad happened last year...and when i say "many"....i am referring to the population of the chinese population in China...last year after celebrating CNY...remember tt China market sentiment tt plunged and caused us tumbling down? tt might still be in ppl's mind | ||||||||||||
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ghlau935
Veteran |
17-Jan-2008 13:21
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Maybe a Technical rebound.....still have to wait for the rate cut for CNY rally..... | ||||||||||||
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cashiertan
Elite |
17-Jan-2008 13:11
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x 0
x 0 Alert Admin |
DOJI spotted. may be sign of reversal is nearby. | ||||||||||||
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ghlau935
Veteran |
17-Jan-2008 10:38
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DJ MARKET TALK: U.S. Stocks Fall; Intel Weighs On Tech Sector
2230 GMT [Dow Jones] WALL STREET : Stocks fell again, reversing late gains as Intel precipitated drop in technology stocks, overshadowing strength in financial stocks such as JPMorgan Chase, builders and retailers. Major indexes oscillated, spiking higher after Fed's Beige Book roundup of economic activity offered no sign of impending recession. RBC Dain Rauscher equity strategy director Phil Dow said Beige Book may have been "indication that our problems are concentrated in financial, housing and automotive sectors," plus consumer-related to somewhat lesser extent. Dow adds short covering may have accentuated short-lived "trading bounce" during afternoon. Pulte Homes +7.2%, while Home Depot +3.8%. Intel led downward spiral of technology stocks, plunged 12%, sounding caution about business condition in 1Q plus rest of year. Intel performance dashed some hopes raised by IBM earlier this week; Microsoft fell 2.4%, Hewlett Packard off 1.6%. Among gainers, JPMorgan Chase +5.8% on strong 4Q profit result. Dow down 0.3%, Nasdaq off 1%, Philly semicons +0.7%. (TIF) |
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ghlau935
Veteran |
17-Jan-2008 10:38
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Business Times - 17 Jan 2008 CLOSING MARKET REPORT US shares end lower on Intel disappointment NEW YORK - US stocks fell on Wednesday, after Intel Corp posted both a disappointing profit and outlook, driving the S&P 500 to its lowest closing level in 14 months. The Dow Jones industrial average was down 34.95 points, or 0.28 per cent, at 12,466.16. The Standard & Poor's 500 Index was down 7.75 points, or 0.56 per cent, at 1,373.20. The Nasdaq Composite Index was down 23.00 points, or 0.95 per cent, at 2,394.59. The poor results from Intel, the world's largest chip maker, came on the heels of poor retail sales data on Tuesday, dismal banking results and a slew of indicators showing the US economy may be on the brink of a recession.Shares of Intel dropped 12.4 per cent to US$19.88 on the Nasdaq. Investors also unloaded Apple's shares for a second day, after the maker of the iPod failed to inspire with new products at its Macworld convention. Apple shares traded down 5.6 per cent to US$159.64. But stocks traded on a roller-coaster ride on Wednesday, with the Dow rising and falling by as much as 100 points, as investors bought up beaten-down bank stocks, after JPMorgan Chase & Co posted a profit despite turmoil in the credit market. The results from the No. 3 US bank, though worse than expected, provided comparative relief from the gloom cast by Citigroup's record quarterly loss on Tuesday. A smaller-than-expected profit decline by Wells Fargo & Co, the No 2. US mortgage lender, also helped. JPMorgan shares rose 5.8 per cent to US$41.43. Wells Fargo rose 3.3 per cent to US$27.37. Lending some support during the session was news that a legislative package to stimulate the US economy and avert a recession could be signed into law within a month. That helped some hard-hit sectors like home builders and home-funding providers Fannie Mae and Freddie Mac. The Dow Jones home construction index rose 3.7 per cent. But Fannie and Freddie cut their gains after the US Treasury Department said it would not support raising the size of home loans the two lenders may buy before a comprehensive reform package is passed by lawmakers. Earlier, the Federal Reserve said in its Beige Book survey of economic conditions that while the US economy continued to grow in the final weeks of the fourth quarter, the pace of activity slackened amid subdued holiday spending and a weak housing sector. And a government report showed that while US shoppers faced moderate price rises in December, that capped a year in which prices soared at the sharpest rate in 17 years, pressuring households already dealing with a steep housing downturn and tighter credit. Energy stocks dragged on the market after crude oil futures fell to settle down 1.15 per cent at US$90.84. Shares of Devon Energy Corp fell 3.7 per cent to US$84.08, and oil field services company Schlumberger fell 3.4 per cent to US$85.90. -- REUTERS Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved. |
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Jimxli
Member |
16-Jan-2008 09:34
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the breach of 12500 & 1370 will see heli ben coming with a cutter sharpen to 75pts... ......that's my expectation |
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huatah
Veteran |
16-Jan-2008 08:46
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haiz.. wat a week... just wondering.. wif soooooo much govt intervene.. pumping money tat i wouldn't see in my lifetime..(when lookin at my bank book...lol).. will tis crab eventually stopped.. com'on... give USA a break-have a "kick-tat" haha.. |
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winnifong
Member |
16-Jan-2008 08:27
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ya....testing 12500 support again. | ||||||||||||
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tanglinboy
Elite |
16-Jan-2008 07:51
Yells: "hello!" |
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Dow falls 277 points last night! | ||||||||||||
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elfinchilde
Elite |
13-Jan-2008 15:53
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heya, jan 17 is when merril lynch releases its results. The talk is that the writedown will be 15bil, more than market expectations of 12bil. think it may be more actually. internal bank talk is calling for sell, and that recession is here (of course, one never knows who to believe). To muddy it further, merril lynch last week released a negative report on citibank as well. kinda pot calling kettle black, if you ask me. goldman sachs called for a recession (since they're abt the only big bank relatively untouched by the mortgage crisis), while morgan stanley and merril lynch are skirting the issue and saying a slowdown. so for me, it's kinda time to read between the lines. Long term appears (ie, end of 1st Q) to be downtrend, in light of macro factors. But short term it swings in the balance--Dow may go either way--i'd rate a higher possibility of down, but with sharp upswings--likely 2--between now and jan 31, but STI appears more likely rangebound to down. lower lows scenario--picture is complicated cos individual stocks are moving differently now, and the sti doesn't reflect broad market. plus, US and STI volumes are thin. So would expect these few weeks to 31 jan to be very, very volatile, as the global markets swing between hope and fear. PS: nugget of fact: in the past century, there have been 11 Fed cuts. 9 occurred when the spore market was low book-to-price ratio, the cut then inspired subsequent rallies. 2 occurred when the sti was at a premium--ie, overvalued. Both times, three months after the first Fed cut, sti breaches a new low. The first Fed cut occurred in sept. we're having delayed effects cos of various reasons--auctioning of money, china/india's ascent etcetc. But stock markets are always about trends, and trends can be found in history, since the psychology of people very rarely changes. which is what TA tracks, essentially. The mathematical picture of the emotive mind. The art comes in the interpretation of the charts. So, the theme is the same, just that we have variations on it. just my opinion yea... and let's just say that i don't really care about being right theoretically (which is what the above is), as long as realistically, i can react in time to the market. cos predictions are just that, predictions. Reality is a different matter. If anyone tells you they are 100% 'zhun', they're lying. No one can predict the market. Need to know that the elf trades very, very fluidly. that's partly why i like to keep my posts more general, even tho privately, i can do more precise calculations. don't wanna mislead ppl; plus may not always be able to tell others to run in time. i'd be the first to dump my opinions if the market shows the other way. one can't be proud in the market, in order to survive.... |
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huatah
Veteran |
13-Jan-2008 10:06
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tks elf... but wat's on 17Jan? sori.. me dun noe.. indeed.. de surge and plung.. is pretty similar on de last three cuts.. |
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elfinchilde
Elite |
12-Jan-2008 23:15
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downtrend was more or less confirmed last friday already actually, when the dow breached the 12,500 range. need to be careful of the previous rate cut phenomenon, where markets priced in the rate cut and ran up before the cut occurred, only to plunge after that, as ppl lock in and cash out. sti had delayed effect cos of the new index i think. need to be very careful and selective on the spore market now, since the new sti doesn't seem to be reflective of the broad market: locally, a lot of counters have actually breached the nov low, or even the aug one, with M formation showing clearly. MACD for a lot of counters is also showing renewed downtrend. Keep light, keep fast. Watch jan 17. be careful of dead cat bounces. |
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tanglinboy
Elite |
12-Jan-2008 22:54
Yells: "hello!" |
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Monday will be another bleeding for STI.. Stocks get pummeledWall Street suffers big selloff after AmEx profit warning, possible Merrill Lynch writedowns revive recession fears. NEW YORK (CNNMoney.com) -- Stocks tanked Friday, extending the miserable start to 2008, after American Express's profit warning and Merrill Lynch's potential $15 billion writedown revived fears that the economy is heading into recession. The acute economic fears have investors clamoring for more Federal Reserve action and they're betting that the central bank will cut rates by at least a half-percentage point at the end of its two-day meeting scheduled for Jan. 30. |
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huatah
Veteran |
11-Jan-2008 07:22
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The Countrywide report overshadowed Fed Chairman's Bernanke's speech on the economy, which most thought was going to be Thursday's headliner.
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tanglinboy
Elite |
11-Jan-2008 07:19
Yells: "hello!" |
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The Fed to the rescueBernanke says central bank ready to take 'substantive additional action' to cut interest rates in order to support lagging economy.NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke said in a speech Thursday that the central bank is prepared to continue lowering interest rates in order to help keep the economy on track. He also reiterated that the Fed does not believe the economy will slip into a recession this year. "We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks," Bernanke said in prepared remarks before the Women in Housing and Finance and Exchequer Club in Washington, D.C. |
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cyjjerry85
Elite |
11-Jan-2008 01:39
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Federal Reserve Chairman Ben Bernanke raised expectations that Fed policy-makers will make further interest rate cuts. | ||||||||||||
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dcang84
Veteran |
10-Jan-2008 22:48
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x 0
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<Hope Bush come out something fast..> You're expecting this bone head to come up with something fast? More likely he'll cause panic selling. |
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elfinchilde
Elite |
10-Jan-2008 22:41
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whoo hoo. and we open with uncle sam down 75pts. let's see feddie speech at 2 am spore time... cashiertan, with 12,500 breached, it's an either or: fresh leg of selling to lower low, or new wave of investors in to sweep it up high. can note tho that the range is getting lower, if you look at long term pic. note just my opinion. i'm not an expert, and i don't claim to be so. |
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