Post Reply
64201-64220 of 69565
Today is due date for T+3/4/5.
I feel Fed would act with great care not to upset the market again.....they just gave a big cut to save the market from tumbling down a few days ago. they would not want to create another fire that they just manage to put out...(ie stabilize the market)
Watchout!
U.S. central bank was not aware that Société Générale was unwinding a rogue's trades before it cut interest rates.
What if Fed decided not to cut further rates that most people are expecting, than there may be another big sell down....
Later we will see how HSI suprise us.. Good luck!
Very quiet today... Most of us are still staying sideline....
max_M, i'm not clever, I choose to short it because:
1) It climb too high for yesterday, exceeding 1.30 in single day.
2) The STI was above 120
3) I dare to do that because i short only 1 lot for fun.
Paper less master u said u short $10.56 and sold $10.18. How 2 know. So clever, I want 2 learn. Can show proof.
Very true that market is all about emotions now...fluctuation range of benchmark DJIA is between 200 - 400 or maybe larger.
Trade with care and don't chase a runaway train.
Please be very careful. The market is trading mainly on emotions right now.
The moment another piece of bad news comes about from Wall Street or otherwise, the stocks will come crashing down again.
The little retracton today is probably due to this : But what the hack, Europe continues its upward trend.
Jan. 24 (Bloomberg) -- Societe Generale SA, France's second- largest bank by market value, plans to raise 5.5 billion euros ($8.1 billion) selling shares after a trading fraud and subprime- related writedowns depleted capital.
The bank found out last weekend that a trader in Paris had secretly set up positions that will cost the company 4.9 billion euros before tax, Societe Generale said in an e-mailed statement today. The trader, who wasn't identified, went beyond permitted limits on futures linked to European stock indexes.
``It's an enormous number,'' said Jean-Paul Pierret, a strategist at Dexia Securities France.
Societe Generale will also take 2.05 billion euros in writedowns related to credit market turbulence following the collapse of the U.S. subprime mortgage market. The bank will post a profit of between 600 million euros and 800 million euros for 2007 and pay a dividend equal to 45 percent of its earnings.
An offer by Chairman Daniel Bouton to resign was rejected by the board, the bank said. Societe Generale shares are suspended, according to Euronext.
The stock yesterday fell 4.1 percent to 79.08 euros, its lowest since May 2005, valuing the bank at 36 billion euros. The shares have fallen 20 percent since the start of the year, hurt by expectations of further writedowns.
The company said it plans to raise the capital by selling shares in a rights offer underwritten by JPMorgan Chase & Co. and Morgan Stanley. The sale is needed to maintain the bank's capital ratios, it said.
Trading Loss
Societe Generale's report of fraud comes four months after French competitor Credit Agricole SA said an unauthorized proprietary trade at its investment-banking unit in New York cost it 250 million euros.
Societe Generale said that it's already closed all the positions set up by the trader, who had used his experience working in the back office to hide his trades through fictitious transactions. The fraud was discovered Jan. 19 and 20.
Societe Generale said it's taking 1.1 billion euros of writedowns linked to the U.S. residential real estate market, 550 million euros linked to U.S. bond insurers, and 400 million euros on other unspecified risks.
In the third quarter, the bank reported 375 million euros of writedowns and trading losses linked to turmoil in financial markets. The world's biggest financial companies have announced more than $120 billion in writedowns and credit losses as the U.S. housing slump rattles debt markets.
Societe Generale's exposure to bonds backed by home loans is now down to 35 million euros, the bank said.
Actually, it will be best to stay out of the ring for now. Everyone is reacting so strongly to negative news, and not responding much to positive news. If you really have to urge to trade, go for intraday trading, try not to leave any overnight positions, unless you are shorting.
Shorted SGX at 10.56 covered back at 10.18, made some kopi $.
anyone shorting?
watever it is on the news tat is coming out.. it will always fall short on the expectation of the investors.. and i reckon they will use their arms to force FED further cut. And when it is only 0.25.. and they will say they expect 0.5.. share px further plunge..
there are good guy.. and they are also bad guy.. Knn.. human cum ghost lor..
last week.. good news.. so wat.. share also plunge..
The news serves as advise better shun the stocks and keep your cash for year-2008.
If Dow tonight close with red, whatever stars, whatever hammers formed by candle sticks also useless and meaningless.
The news is expected to be bad news ?
| Thursday | Wednesday | ||||
| ST Index | 3,045.28 | +61.66 | 2,983.62 | +117.07 | |
| Volume | 2,237.1M | 2,366.0M | |||
| Value | $3,112.3M | $2,902.5M | |||
| Gainers / Losers | 561 / 300 | 608 / 254 | |||
Jan. 24 (Bloomberg) -- The financial-services industry should expect ``turbulent conditions for 2008 and beyond'' and may report an additional $300 billion of losses related to the U.S. subprime crisis, according to a study by consulting firm Oliver Wyman.
Unemployment claims, existing home sales, and crude oil inventories news coming up between 9.30 - 11pm tonight.