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

The banking crisis will eventually resolve itself by closing banks to remove redundant banking services. There is no longer any real estate bubble to serve and make profits from obviously.

You could argue that the big bank bailout that prevented banks from failing will ultimately only slow the consolidation process and delay the accountability. As we do get closer to a real economic recovery the dangers from a sudden banking system collapse diminish so any banks that are still in trouble at that point should be allowed to fail.

As for the current stock markets, I'm hoping for a healthy sell off so that we get a wide trading range to play on. Last summer there was a narrow trading range in the Dow as traders fought to support the higher market levels. September came along and boom one big sell off. Even with abysmal news you can build a pretty good bridge across a bottom when price volatility is high.

The recent higher oil prices are looking like just a bounce. Same thing happened in 1981 after the 1980 price spike collapsed. That should put an end to any talk of inflation for a while.

www.bloomberg.com...

[edit on 14-5-2009 by fromunclexcommunicate]

[edit on 14-5-2009 by fromunclexcommunicate]

reply to post by GreenBicMan


I don't think you understand what people are telling you. It's not that your opinions on the economy in general are the legal issue (and trust me, the SEC doesn't take unlicensed people giving advise lightly.. if you ever get yourself licensed, you will find even when you are licensed one misplaced clients folder in the office can land your self a huge fine..) It's when you go into detail on trading techniques, timed buy/sell advice etc. Even if it is your opinion and you state it as such.. no one else here is going to say "I would get out by Friday if this and that are not met yadda yadda" I hope you get my point.

The internet won't protect your identity.. if you ever notice all those "market symbol call" websites that offer a news letter (pump and dump, I am sure you know what I mean) are all based offshore? .. Like Canada, Britain, Africa.. where the SEC is powerless.. is because the site can be held liable.

reply to post by redhatty


I think one thing we have all gotten terribly wrong in this crisis is that bankers are working together. I believe that while they may be working together for the general bailout idea and principles.. every institution is looking out for it's self. They all wanted the huge bailouts, because they all had CDS and CDO's traded between them in a complex web of insanity.

But at the same time, they are fighting over the consolidation of other banks (Citibank and Wellsfargo) .. they are sacrificing institutions behind closed doors (Bear Sterns was sold over the weekend, majority share holders not even told until the fire sale was made) .. or using AIG and keeping it alive just to transfer funds through CDS obligations, making it appear as profits but really just getting the insurance payouts via tax payer funds. They where investing in the same derivatives, but at closer glance it would appear the banking World is in complete chaos and panic.. and I think each institution is still looking out for number one first.

Hx3_1963

I don't see what's so hard about States (and the Federal gov) understanding that in times of severe economic recessions.... you CUT spending. California is NOT cutting spending.. in fact.. the ONLY state/city spending I have seen cut drastically.... has been Education.. which should be the LAST thing to go. It makes no sense what so ever.. California should be made example of, we should let them collapse and watch the State scramble to curb spending and find new ways of raising revenue.

Nothing against California.. but I fail to see why the Republic should sacrifice funding for their State to support the Socialist state of California.

Let me ask you ladies and gents this:

Has the Bankers taken over Washington.. or has Washington taken over the Bankers??

Increasingly, I don't know which way it has gone.. and I am not sure which way is worse.

reply to post by Hx3_1963


By the way.. (I know I have posted 4 times in a row now and look like GBM lol..) the IRS already taxes interest on savings accounts.... have you not been reporting your savings interest?? .. I reported my whopping $7 or so in interest I got last year lol. Just kidding, I didn't.



Your also supposed to report tax refunds as income.

Originally posted by Rockpuck
I reported my whopping $7 or so in interest I got last year lol. Just kidding, I didn't.

What's the problem, Rock? Is the zero key on you keypad sticking or what? You can diversify and use upper-case "O" instead.

reply to post by Rockpuck


Um actually California has been cutting spending all over the place; including public service and civil servant job's. Our town and several around us have had a hiring freeze for some time now and they have even had to let some people go into early retirement.
The "cuts" came last year( a few before that) and they are still cutting, you can actually drive by the police station any day of the week and see the new car lot out back....it is normally supposed to be empty it is now always half full.
Until we had this swine flu crap they where down to only having three ambulances.(well over 350,000 population here) People who work in other cities etc now drive them home so they can help us out if we need it. I know a lot of it doesn't make the news nation wide but the cutting has gotten to a dangerous point in Northern California. I personally think it's about time Southern California "caught up" with the huge cut's the rest of the state has had to take all this time.

Wal-Mart posts flat profit for 1st quarter

LITTLE ROCK, Ark. – Wal-Mart Stores Inc. reported a flat first-quarter profit on Thursday as revenue from its huge international operations was hurt by the stronger dollar.

news.yahoo.com...

I really wonder how many people are going to buy the it is a stronger dollar line. They sell the product's in other countries for just as much as they would cost here... not the other way around.
Currency or not the fed's golden goose just got cooked with a flat quarter.

[edit on 14-5-2009 by xoxo stacie]

And this is "new" news?!? Who are these clowns?!? :bnghd:

US 'sham' bank bail-outs enrich speculators, says buy-out chief Mark Patterson
www.telegraph.co.uk...

The US Treasury’s effort to stabilize the banking system through the TARP program is a hopelessly ill-conceived policy that enriches speculators at public expense, according to the buy-out firm supposed to be pioneering the joint public-private bank rescues.

“The taxpayers ought to know that we are in effect receiving a subsidy. They put in 40pc of the money but get little of the equity upside,” said Mark Patterson, chairman of MatlinPatterson Advisers.

The comments are likely to infuriate Tim Geithner, the US Treasury Secretary, because MatlinPatterson took advantage of the TARP’s matching funds to buy Flagstar Bancorp in Michigan. His confession appears to validate concerns that the bail-out strategy is geared towards Wall Street.

More at Link...

online.wsj.com...=testMod

Higher than expected PPIP and higher layoffs than expected. Retail sales were a surprise in a bad way...so isn't a higher PPIP bad? I think so. If people are losing jobs and need to pay more for necessities--won't they NOT pay for other goods?

Geithner is going to Bilderberg this weekend... to receive orders from his masters. Last time, in June 08, Bernanke went there and the crisis accelerated a few weeks later...

Doesn't matter that Geithner going to this meeting is high treason under the Logan Act...

That scumbag Robert Zoellick will be there too. And of course another of the Obama administration to give orders to Obama, James Steinberg, US Deputy Secretary of State.

So prepare for a new phase of collapse in the next few weeks... I'll meet Zoellick in June in Montreal, I'll call him on his BS.

Originally posted by Vitchilo

So prepare for a new phase of collapse in the next few weeks... I'll meet Zoellick in June in Montreal, I'll call him on his BS.

Day's hunny they are out of time and everyone is getting sick....doesn't matter if they make a vaccine now or not a lot of people are going to pass on. They are going to have even less cattle to herd. They know this and the final push for consolidation is up for grab's. Like they say "never waste a good crisis". What make's you think they will wait week's? The crisis worldwide is right now.

reply to post by RetinoidReceptor


I saw those unemployment numbers.. mostly Chrysler employees and former employees of the Parts producers...

I personally don't think Union Workers should be getting paid their salary through unemployment while idled... but hey, that's me.. I don't think unemployment should exist period, I'm just a scrooge like that.

Ya Standar.. I forgot my Zero(s) lol

xoxo stacie

Hmm .. maybe you have cut spending, maybe not enough.. perhaps some social programs need to be suspended.. budget gap is increasingly larger, no one's buying your debt.. 10th largest economy in the World for crying out loud.

With 36.8 million people, the largest poverty base in the country, and the largest population of illegal immigrants in the country.. it would take a hell of a lot more then an ambulance shortage to make me feel sorry for California.

reply to post by Rockpuck


I see what you are saying kind of..

But i dont see how its any different than someone saying

"The economy is crashing, we are doomed by end of summer"

Both infer a timetable, with an opinion.

reply to post by Rockpuck


You see that is my point the "cuts" haven't been heading "down" the line where the most people and horrific spending is. Now that it has gotten to where they can't screw us any further it is now time to "fix" the rest of the lower end California problem.
They are just now starting to get hit and whining like a bunch of babies over basic cut's! Up here in the northern half we have been damn near shut down over it. That was the point I was trying to make over it, not the best with my grammar right now...something tells me it's showing

Laura Pendergest pleads innocent

Yeah, shes def too hot to go to prison lol

A cold splash in the face of reality

Five Economic Storms Raging NOW!

Any economist fixated on so-called “signs of a recovery” needs to have his head examined.

As I’ll prove to you in a moment, the hard-nosed reality is that five major economic cyclones are in progress at this very moment.

The storms are not abating. Nor are they changing direction. Quite the contrary, what you see today is, at best, merely a deceptive calm before the next, even larger tempests.

For investors who follow Wall Street, it could be fatal.

For contrarian investors, however, this insanity opens up some of the greatest opportunities in many years: Precisely when we see plunging barometers all around us, we also have a new surge of hype on Wall Street, driving stock prices higher.

Result: The rally has lowered the cost of contrary investments precisely when their prospects are best. Consider the five storms, and you’ll see exactly what I mean …

the author goes on to explain clearly the 5 storms

Storm #1.
Plunging Jobs

Storm #2
U.S. Housing Starts Down 77.6 Percent!

Storm #3
Auto Sales Down 44 Percent!

Storm #4
Biggest Decline in Consumer
Credit Ever Recorded!

Storm #5
Big Banks!

and then goes into detail over the deceptions

First deception: The assumptions.
Second deception: No mention of systemic risk!
Third Deception: Improper influence.

Well worth the time needed to read it in it's entirety

reply to post by redhatty


The guy in your article says he thinks the stress tests were too easy?

Do you agree?

They planned for much worse scenarios than present correct?

Also, if you link to something, with a opinion of the market, and what he/she would hold, is that not also advice? As in the bottom of that page?

Im interested to know... but mostly what you think of the stress tests personally

reply to post by GreenBicMan


It's not what you say, it's how you say it

xoxo stacie

As long as you Cali's stay in Cali and don't come to Oregon.. the people from Cali that I have met here are not very nice.. it clashes with the North West friendly personalities I have come to like.

Speaking of California's .. er... large lower income population .. where is all the demand to close the borders?? .. I think ANYONE employing an Illegal Immigrant during this recession should be charged with treason! .. And they can't use the line "American's won't do it" .. um, American's unemployed for a year will do anything! Completely out of the news though.

*sigh*

Can ANYONE tell me why the markets are up right now? One company posted good news, two automakers and a retailer post bad and more record unemployment... and stocks rise?

reply to post by Rockpuck


hahaah i could try to tell you, but I would have to use sign language