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The "up-to-the-minute Market Data" thread

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posted on Apr, 13 2009 @ 06:19 PM
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"On the downside, the ultrashorts were mixed. The Direxion Financial Bear 3x Shares (FAZ) lost 1.23 to 9.26 and closed below the Direxion Financial Bull 3x Shares (FAS) for the first time. The FAS at 9.75 was up 1.04, which reaching as high as 10.05 on 325 million. The UltraShort Financial ProShares (SKF) was down 4.96 to 59.72, the UltraShort Real Estate ProShares (SRS) down 1.42 to 39.47, and the U.S. Oil Fund ETF (USO) down 1.01 to 29.68, as oil backed off.

Stepping back and reviewing the hourly chart patterns, the indices were down in the morning, up in the afternoon and closed mixed on the day. Despite touching new 5-week highs, they backed off in the last 15 minutes to take the luster off the afternoon rally."




posted on Apr, 13 2009 @ 06:22 PM
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Originally posted by GreenBicMan
ex. - my call last night on the breakout of the SP500 BNKING index


Hmm, Last night this is what you had to say


since you are the only one that hasnt like blocked me.. check these out bro

S&P Banking Index

Dow Jones Industrial Average

Charts

DJIA Closed ABOVE its 100 Day MA for like the first time in forever on thursday and the SP Banking Index just broke out


Calling something AFTER it already happens is not TA LOL

Like I said, read some books, learn what the real fundamentals are, understand what is being said in other trader's TA.

You have focused on banks and FAS, there is MUCH more to the market than those. And for someone looking forward to taking their Series 7, I would *think* you would have liked the book recommendations, I would *think* you would want to learn more to do the job effectively.

But I've been known to be wrong before



posted on Apr, 13 2009 @ 06:28 PM
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Goldman Sachs To Repay TARP Funds As 1Q Profit Surges!

Maybe Goldman Sachs does run the U.S Government after all!


Goldman Sachs Group Inc. (GS) sent a clear signal to Washington on Monday: It's more than ready to pay back taxpayers.
The investment bank delivered first-quarter earnings that sailed past even the most optimistic predictions and plans to raise $5 billion in stock to help pay back government bailout funds. It would become the first big U.S. bank to repay federal loans extended last autumn at the height of the credit crisis.

For Chief Executive Lloyd Blankfein, posting robust results was needed to help convince Washington that the New York-based investment bank was on a strong footing. The bank plans to repay the $10 billion of federal loans as soon as the government approves.

One of the biggest reasons for Blankfein to quickly repay the money is to avoid any restrictions placed on it by the government, such as limits on executive pay. The bank has also likely received concerns from clients about being under the government's thumb. .....
......Until recently, Goldman had been known as having a magic touch after a correct bet that subprime mortgages would crater and its avoidance of other messes. But Goldman is facing danger from its heavy exposure to stock markets, which have been extremely volatile in recent months, and its "book" of so-called distressed investments, which includes everything from troubled auto loans in Thailand to struggling golf courses in Japan.


online.wsj.com...

www.abovetopsecret.com...



posted on Apr, 13 2009 @ 07:25 PM
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Futures...flat...

NZSE 50 2,599.36 8:00PM ET Up 28.22 (1.10%)

Gold $892.60 v
===
Great...marvelous...fantastic...hey kid...got a light???
*Lots of Dynamite with fuses in background*



Fannie Mae Chief Executive Herb Allison to run TARP: WSJ
&dist=TQP_Mod_mktwN]M arketWatch

LOS ANGELES (MarketWatch) -- President Barack Obama is expected to tap Fannie Mae Chief Executive Herb Allison to head the government's $700 billion Troubled Asset Relief Program, The Wall Street Journal reported late Monday, citing people familiar with the matter. Obama could announce his intention to nominate Allison as assistant secretary for the Office of Financial Stability as early as this week, the report said. He would replace Bush-appointee Neel Kashkari, who was asked by Treasury Secretary Timothy Geithner to stay on until a replacement was found.

How is it, the "best" people for the jobs, are the ones who blew us up?!?!?


[edit on 4/13/2009 by Hx3_1963]



posted on Apr, 13 2009 @ 07:32 PM
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last week Maria on CNBC made light of the fact Whitney has been actually optomistic (short term) on financial's Whitney said earnings could show a spike ...thanks 2 M2m changes and some investment banks in collusion with the fed making a ton on treasury purchases/acquisitions......but that to look for PAIN in LATE APRIL for financials ...

Sounds like the other poster was probably burned by the shorts riding whitney's analysis over the last year

and this is one hell of a rally right now........it will probably gain steam this week as bank earnings will beat the street .....but when you read between the lines on their earnings it will probably be bleak.....

i think the big question will be how low will the next correction take us.....(i.e late april) i would bet quite confidently it will not take out march lows (or even close IMO) too many investors betting on recovery.....buying B.S ....or just riding speculation and bank stock pump jobs they are trying to create a self fullfilling B.S prophecy and at the very least they may succeed in establishing a market bottom for a good 6 months......although i think the bulls with be slapped with reality as earnings are going to be a JOKE for company's (outside changing M2M for fiancials for a loooonnnnnngggg timmmmmmmmeeeeee



posted on Apr, 13 2009 @ 07:34 PM
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reply to post by burntheships
 


Don't believe it. GS changed their accounting year and in that change, all the LOSSES fro December will never show up on their future accountings.


On April 13, 2009, The Goldman Sachs Group, Inc. (Group Inc. and, together with its consolidated subsidiaries, the firm) reported its earnings for its fiscal first quarter ended March 27, 2009. A copy of Group Inc.'s press release containing this information is being furnished as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of Group Inc. under the Securities Act of 1933 or the Exchange Act. Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

(b) On April 13, 2009, the Board of Directors of Group Inc. (the Board) determined to change Group Inc.'s fiscal year end from the last Friday of December to December 31, beginning with fiscal 2009. Fiscal 2009 began on December 27, 2008 and will end on December 31, 2009. Because the new fiscal year end is less than one week from the current fiscal year end (i.e., the last Friday in December), under the applicable rules of the Securities and Exchange Commission, no transition report is required. Group Inc.'s fiscal quarters will continue to end on the last Friday of the quarter through the third quarter of 2009. Beginning in the fourth quarter of 2009, Group Inc.'s fiscal quarter will end on calendar quarter-ends. Item 8.01 Other Events.

On April 13, 2009, Group Inc. reported net revenues of $9.43 billion and net earnings of $1.81 billion for its first quarter ended March 27, 2009. Diluted earnings per common share were $3.39 compared with $3.23 for the first quarter ended February 29, 2008 and a diluted loss per common share of $4.97 for the fourth quarter ended November 28, 2008. Annualized return on average common shareholders' equity (1) was 14.3% for the first quarter of 2009.

Source

but, GS Lost $1.03 billion in December 08, which with the changes in their accounting, is not reflected.

When you do the math, they are only sitting 0.78 billion ahead. and while that is still a substantial amount, it IS quite lower than the forecasts.

Calmer heads will realize this, and the selling will commence.



posted on Apr, 13 2009 @ 08:04 PM
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Originally posted by GreenBicMan
reply to post by theWCH
 


im so tired of these Roubini, Whitney, Mayo comments etc... they are preying on their side of the short..

classic is CNBC and the MAYO dump a few days ago..

whatever those 3 say, run fast the other way

Only of the three of them?

The whole pack isn't good for any practical purpose. You can always catch them flanking the fundamentals, like this clown:
marketplace.publicradio.org...

The topic was whether the market bottomed out or not back in March. How do you you know if it did or not?


Peter Schiff of Euro Pacific Capital is not very confident that we're anywhere near a bottom.

Schiff's known for his dire economic predictions -- and he's been right about most of them.

PETER SCHIFF: I think there's going to be a lot of worry and a lot of panic near the bottom, and we haven't had much panic. You know maybe if we had a thousand or a two thousand point down day in the Dow or a couple of those, maybe that would do it. But I think this gradual decline to me doesn't look like a bottom.


Shiff beautifully fu-cked up, coz the Dow won't get near that March 9 close for the rest of the year, even with the GM "stress test" coming in the second half of May. Take my word for it -- cautiously.



posted on Apr, 13 2009 @ 08:27 PM
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And you thought GM's $77B Bail-out was it...not...

Can anyone say..."I wanna be the Banker...in Monopoly..."

Now...how do you borrow...to pay for borrowing?

so much for "leaked" "profits".....................................




Wells Fargo May Need $50 Billion in Capital, KBW Says (Update1)
www.bloomberg.com...

April 13 (Bloomberg) -- Wells Fargo & Co., the second- biggest U.S. home lender, may need $50 billion to pay back the federal government and cover loan losses as the economic slump deepens, according to KBW Inc.’s Frederick Cannon.

KBW expects $120 billion of “stress” losses at Wells Fargo, assuming the recession continues through the first quarter of 2010 and unemployment reaches 12 percent, Cannon wrote today in a report. The San Francisco-based bank may need to raise $25 billion on top of the $25 billion it owes the U.S. Treasury for the industry bailout plan, he wrote.

First-quarter net income rose 50 percent to about $3 billion, Wells Fargo said last week in announcing preliminary results that topped the most optimistic Wall Street estimates and sparked a 32 percent jump in the stock. The bank attributed the profit to a surge in mortgage originations and revenue from Wachovia Corp., acquired in December. Full results are scheduled for April 22.

“Details were scarce and we believe that much of the positive news in the preliminary results had to do with merger accounting, revised accounting standards and mortgage default moratoriums, rather than underlying trends,” wrote Cannon, who downgraded the shares to “underperform” from “market perform.” “We expect earnings and capital to be under pressure due to continued economic weakness.”

Wells Fargo raised its provision for loan losses by $4.6 billion in the quarter, below Cannon’s estimate of $5.4 billion. FBR Capital Markets analyst Paul Miller wrote after the announcement last week that he expected a $6.25 billion increase.

Charge-offs

Net charge-offs were $3.3 billion in the quarter, compared with $2.8 billion in the previous period at Wells Fargo and $3.3 billion at Wachovia. The current numbers are artificially low because consumers received tax refunds and a there was a moratorium on some mortgage defaults, wrote Cannon, who predicts a “re-acceleration” of charge-offs in the second quarter.

The ability of Wells Fargo and 18 other U.S. banks to withstand further economic deterioration is being determined by the government’s stress tests, which will be completed by the end of April. Treasury Secretary Timothy Geithner expects that some lenders will require “large” amounts of capital.

While Wells Fargo is likely to pass the test, regulators may “push for higher capital levels,” wrote Credit Suisse analyst Moshe Orenbuch in New York, who initiated the shares with a “neutral” rating today.

“Given rising unemployment, continued home price declines and general macroeconomic headwinds, WFC’s consumer and commercial portfolios remain at risk for meaningfully higher credit losses over 2009 and 2010,” Orenbuch wrote.

Wells Fargo rose 6 cents to $19.67 at 4:11 p.m. on the New York Stock Exchange. It has dropped 33 percent this year. Wells Fargo trails only Bank of America Corp. in U.S. home lending.


[edit on 4/13/2009 by Hx3_1963]



posted on Apr, 13 2009 @ 08:33 PM
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reply to post by redhatty
 

Ok now you have got my attention...do not believe what...that they made a profit? If so, I agree with that. I am of the mind to think that they will find a way to pay back the TARP so they can remain "free". No?



posted on Apr, 13 2009 @ 08:36 PM
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More money for the banks! YAY. I want to see how the bailout will be on October 1, 2009... a year after the first bailout.

From October 1, 2008 to March 31, 2009, 6 months = 12.8 trillions or about 14 times the currency in circulation... imagine the inflation on that when it comes down.

NIKKEI down 138 points at 10h35 Tokyo Time.

I hope it comes back down, Goldman Sachs for all the evil they have done need to be taken down. Call their CDS and bankrupt them.

So is it decided yet if they give GM another bailout or not?

[edit on 13-4-2009 by Vitchilo]



posted on Apr, 13 2009 @ 08:41 PM
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reply to post by Vitchilo
 
Well...bail-out is estimated at $77B in a "Re-structured" BK..so...

You make that call...

and speaking of "bail-outs"...
Anyone buy this???
Thought not...


Banks willing to help strapped cardholders
But credit-aid effort doesn't provide consumers the whole story
&siteid=nbsh]MarketWatch

PALM BEACH GARDENS, Fla. (MarketWatch) -- TV and print ads invite credit-card holders struggling to make payments to visit HelpWithMyCredit.org or call 1-866-941-1030. Does this mean big banks are truly helping credit-strapped cardholders?

The answer, based on a spot check of major issuers, appears generally to be "yes." Despite published reports lately of increased credit card interest rates and fees, some banks say they proactively are contacting strapped cardholders to suggest solutions.

Common offers of relief may include elimination of fees, lowering of interest rates and reduction of monthly payments. Some issuers say they will go so far as to forgive a portion of the balance.

So if it's been a while since you talked to your card issuer about getting relief from overwhelming credit card debt, it could pay to try again. A "Hardship" department might be a good place to start. The extent of the help you'll get, however, varies.

"Persistence is really a key," says Bill Hardekopf, CEO of lowcards.com. "Ask for a manager. Go up the ladder."

Callers responding to "Help With My Credit" ads automatically are patched to appropriate departments of participating credit card issuers or directed to an accredited credit counselor, says Joe Ganley, vice president at Weber Shandwick Worldwide, Cambridge, Mass. The bank coalition's Web site also provides educational credit information.
More at Link...

And in related "strangle-hold" moves...

DEALTALK-Goldman may repay gov't funds but not ease US grip
www.reuters.com...

NEW YORK, April 13 (Reuters) - Goldman Sachs Group Inc (GS.N) may succeed in its bid to pay back U.S. taxpayer money with the help of a $5 billion common share sale, but it may still not get the freedom it wants from intense public scrutiny.

Goldman, which posted a better-than-expected first-quarter profit and announced the public offering on Monday, has navigated the global financial crisis better than many of its rivals.

Its share price has more than doubled since hitting a record low in November, and is up more than 50 percent this year.

So it may be allowed to return the $10 billion it took under the U.S. Treasury Department's $700 billion Troubled Asset Relief Program (TARP), which has become a headache for recipients with oversight over compensation, expenses and acquisitions, experts said.

But given Goldman's size and importance to the financial system, regulators may still want to keep a close eye on it, said Seamus McMahon, an independent banking and regulatory consultant.

"So the question is, even if they are allowed to do it, how much of a victory is this actually ultimately?" McMahon said. "Is it more marketing or does it really give them operating freedom?"

The dilemma was underlined on Monday when Goldman posted a profit as it took on more trading risk and disclosed it was paying its employees on average in the quarter almost 35 percent more than in the first quarter of the previous fiscal year. [ID:nN13387020]

To add to regulators' headaches, Goldman's bid to return the money could prompt other banks that are not in as good financial condition to seek to do the same, forcing some difficult policy decisions.

Regulators would want to be sure that banks that return the money have enough capital. But they would also be concerned if a two-tier market is created, with Goldman, Wells Fargo & Co (WFC.N) and some other banks being seen as strong enough to thrive or survive without government help, and others such as Citigroup Inc (C.N) seen as requiring government nursing.

Besides Goldman, others such as Morgan Stanley (MS.N) and Bank of America Corp (BAC.N) have signaled their eagerness to pay back the money as soon as possible.

"It breaks the ice for somebody big to want to pay it back," said Chip MacDonald, a banking partner at law firm Jones Day.

The U.S. Treasury Department did not have an immediate comment.
More at Linky...

[edit on 4/13/2009 by Hx3_1963]



posted on Apr, 13 2009 @ 08:48 PM
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reply to post by burntheships
 


Yes, sort of, they want to get out from under TARP restrictions and make those big bonuses again, while continuing to rape the american public.

But even after they pay back TARP, they still owe Warren Buffet $5 Billion

So GS is operating at a loss, no matter how they cook the books



posted on Apr, 13 2009 @ 09:01 PM
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WOW...things are looking up concerning earnings!!!


S&P 500 -5.10 848.90 4/13 9:45pm
Fair Value 853.38 4/10 10:16am
Difference* -4.48

NASDAQ -5.00 1327.00 4/13 9:18pm
Fair Value 1339.50 4/10 10:16am
Difference* -12.50

Dow Jones -45.00 7950.00 4/13 9:05pm
===
Nikkei 225 8,779.23 9:40PM ET Down 145.20 (1.63%)
Straits Times 1,859.70 10:00PM ET Down 17.07 (0.91%)
===
Gold $893.95

[edit on 4/13/2009 by Hx3_1963]



posted on Apr, 13 2009 @ 09:21 PM
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Originally posted by GreenBicMan

dude, lets go back a few weeks

she is bearish on financials overall, i dont care what she says about short term.. she is bearish overall..

How in the holy hell can you be a bear when financials are at generational lows??

and no i wasnt in the market then, but there are extreme bulls and bears on both sides, when one hits they are a god, when one doesnt they are a shill... one has to be right - and one will ALWAYS be eventually right or wrong..

IMO she is short huge this market and trying to get back anything she can - this comes from what i believe is a mental manipulation involving CNBC and their "STAR" bear analysts and how much coverage they continue to give them..

just my view




You don't care what she says about the short term? You are the one who brought up if anyone was short right now and listened to her that they would be slaughtered when she said not to be short now. You were the one talking about the short term.

Yes, financials are at all time lows, but they are also on life support from the government. Bank of America will NEVER be 50 dollars/share again. They will need to sell assets during these times and the economy is NOT getting better with 600,000 people losing their jobs every month. I don't care what anyone says, until we start creating jobs, we will continue to be in a downward spiral.

Ask yourself, just how many banks would be here today if Uncle Sam didn't put them on life support? And you think that just because accounting rules were changed, government programs to capitalize them are enacted and AIG funneling them money should mean that they are a great buy after increasing 300% from the lows. Um...they may still go up, but the next wave of a little bit of bad news, they will be down AT LEAST 50% from here.



posted on Apr, 13 2009 @ 09:28 PM
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reply to post by RetinoidReceptor
 
Star 4 U!

I had my doubts about you for awhile...

I see...you've seen the light...

This is all a .GOV/Wall St power grab...

...And shareholders have lost their "power"...

Just look at the upcoming GM "Bailout/BK" deal...

Look at the headlines...



posted on Apr, 13 2009 @ 09:58 PM
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LAYOFF DAILY
4-13-2009


Finch Paper -57
Chicago Tribune -90
LA Schools Cutting Teachers -1,900
ArcelorMittal E. Chicago -400
SR of Kentucky Closing Plant -194
State of Vermont -420
Buckhorn Inc. -58
BF Goodrich Closing Plant -1,000
Brownstein Hyatt -37
Observer and Eccentric Newpapers -44
Peterbilt -390
HBC Canada -1,000
Panasonic -79
Amgen -100
Detroit -334
City of Boston -565
UBS May Cut More -8,000
Pinnacle Mine -200
Perot Systems -30
ECI Telecom -200

TOTAL - 15,098 est



posted on Apr, 13 2009 @ 10:22 PM
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reply to post by spinkyboo
 
Yep...we're leaving out...

Down to average 630K...

No problem...

Record high returning UE rates....

Yep...



posted on Apr, 13 2009 @ 10:25 PM
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reply to post by Hx3_1963
 


Please excuse by deviation from the thread topic for just a moment...your avatar! Oh my...first the morphing heads, and now that contraption!
Are you trying to say something there? Too funny!

Star 4 You!


Now back to the market data...

Singapore said its economy may shrink as much as 9 percent this year, the most in its 44-year history, as a deepening global recession drives down exports and manufacturing.

www.bloomberg.com...



posted on Apr, 13 2009 @ 10:26 PM
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Alright...I've got to ask...it's off topic I know.....

What's with the skittles?

Inside joke I'm not getting or do both HX and Red both have an insatiable addiction to the sweet colorful candy known as skittles? ...And therefore....have skittles in their profile pictures?





posted on Apr, 13 2009 @ 10:52 PM
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reply to post by burntheships
 
SHHHHHssshhh...

Be berry berry quitet...

Yeah.....or Nagh???

Nikkei 225 8,811.08 10:30PM ET Down 113.35 (1.27%)



[edit on 4/13/2009 by Hx3_1963]



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