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Originally posted by GreenBicMan
Ok.. so the point you are making is that since you buy calls to hedge your bets high call volume isnt a bullish indicator?
Either way high volume of calls is bullish, and that was my only point I guess..
There's more than put to call or even volume etc. when institutions start selling calls and whatever sorcery they do.
Originally posted by cpdaman
i see the stock market holding above 7500 until the second quarter earnings come out .......in late july........where they may test march lows..... i think the market may get up to 9000-9200 by late june early july. i do not have any confidence that a Bear market low is anywhere in the horizion unless a co-ordinated currency devaluation occurs and reprices assets up ward.....bear markets that unwind from long credit bubble's deleveraging take a lonnnn time for earnings to come back....there may be some blips of hope that people who lost money hang onto (wishing they may re-coup their losses) but people without emotional ties to these rally's can see them for what they likely are........also any fear that people will miss the "bottom" doesn't apply to a credit driven crisis in a credit driven economy.......because in that scenario earnings don't bounce back like in typical recessions.....(even if it takes a quarter or two more of bad earnings for people to realize this)....just like anyone afraid to miss the bottom in RE is not thining logically.....prices there are going to enjoy a long "bottom"........with unemployment and bank's lending averse.....home prices will not rally back with any authority.....one thing that would help would be more tax benefits for home buyers....but this will only slow the slide......it takes time.....
More at Link...
Mortgage Bondholders Form Battle Lines Over Obama Housing Plan, Cramdowns
www.bloomberg.com...
April 23 (Bloomberg) -- The head of Greenwich Financial Services LLC warned bond investors in Washington last month that government efforts to reverse the housing slump are doing more harm than good by undermining debt contracts.
More than 30 money managers with stakes in the $6.7 trillion mortgage bond market that underpins the real-estate industry heard Bill Frey’s March 25 talk, according to a list of the attendees. Since then, a group of investors with home-loan bonds totaling more than $100 billion have hired Patton Boggs LLP, Washington’s biggest lobbying law firm, said Micah Green, a partner and former head of the Bond Market Association.
Bondholders are preparing for a fight over legislation approved last month by the House of Representatives that would shield companies that collect homeowners’ payments from lawsuits over modified mortgages, even if new terms harm investors. The government’s actions may increase borrowing costs because creditors would demand higher returns to compensate for the risk that once-sacrosanct investment terms can be changed, they say.
The number of U.S. workers filing new claims for jobless benefits rose 27,000 last week, the government said on a report on Thursday that showed the number of workers receiving benefits at a record high.
Initial claims for state unemployment insurance benefits increased to a seasonally adjusted 640,000 in the week ended April 18 from a revised 613,000 the prior week, the Labor Department said.
The world's largest package delivery company reported net income of $401 million, or 40 cents a share, compared with $906 million, or 87 cents a share, a year earlier.
Excluding an impairment charge for the early retirement of the company's fleet of DC-8 jets, UPS earned 52 cents per share in the quarter.
Bank of America Chief Executive Kenneth Lewis testified under oath that US Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson pressured the bank to not discuss its plan to buy Merrill Lynch, the Wall Street Journal said.
Loan Losses Push Many Regional Banks into the Red, Most regional banks reported losses for the quarter ended in March, hurt by higher losses on various types of loans. Analysts have warned that the credit crisis is likely to bite further, as the economic recession deepening meant more customers default on their loans.
Originally posted by marg6043
Things with the banks are no getting better they are getting worst, local banks feeling the loses too.
Loan Losses Push Many Regional Banks into the Red, Most regional banks reported losses for the quarter ended in March, hurt by higher losses on various types of loans. Analysts have warned that the credit crisis is likely to bite further, as the economic recession deepening meant more customers default on their loans.
www.cnbc.com...
Markets open in the green