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Originally posted by GreenBicMan
reply to post by fromunclexcommunicate
BAC news doesn't even slow it down..
My cpu crashed so I am working on something now even older and can't even access anything so just stuck to looking at the tape on tv
Looks like we might have one of the days where we have the SP500 higher as well as the VIX go up as well (12% chance of this happening historically).. usually signals a bigger move is coming from one way or another
Originally posted by stander
reply to post by GreenBicMan
I can't test anything, coz all is well above the Previous Close. But if someone asked me to guide DJI to the end of the session, I would do it this way:
Connect the max. point from 9:30 - 11:00 with the min. point from 1:00 - 2:00. This is based on the "bursting the bubble" daytime tactic.
The projection line gets you to 9,240 as an endpoint. This endpoint agrees with the highest volume point so far. So let's see what happens . . .
Originally posted by dizziedame
What I miss is the cold hard data. The actual numbers going on in the market at least hourly.
I also miss the gold and other metals reports.
Originally posted by fromunclexcommunicate
Both the Nasdaq and S&P broke millennial resistance levels today so you would think there would be some follow through buying this week? Seems too easy for investors to just decide that this is the thousand marker so its time to sell.
[edit on 3-8-2009 by fromunclexcommunicate]
September gas prices surged at about 9:04 a.m., rising from $3.749 to $4.162 in one minute before falling back to $3.875 at 9:05 a.m., according to Nymex data. In those two minutes, 6,456 contracts changed hands.
More at Link...
Banks Urged to Consider Higher Home-Equity Reserves (Update2)
Aug. 3 (Bloomberg) -- U.S. banks may need to boost reserves for potential losses on home-equity loans after the Federal Deposit Insurance Corp. issued guidance in response to a slump in property prices from their peak in 2006.
The regulator, in a letter today to banks and examiners, urged lenders to consider issues such as whether borrowers’ total housing debt exceeds the value of their properties and whether homeowners’ first mortgages have been reworked when determining allowances for losses on the debt.
Senate Banking Committee Chairman Christopher Dodd and House Financial Services Committee Chairman Barney Frank in a letter last month asked regulators to assess whether banks are carrying home-equity lines of credit, or HELOCs, and non- revolving home-equity loans at “potentially inflated values,” hindering efforts to have mortgages modified to stem the soaring foreclosures that have roiled the U.S. economy.
“It was probably triggered by the fact that the FDIC does not like what it is seeing with respect to marks on the HELOC books,” Paul Miller, a bank analyst at FBR Capital Markets in Arlington, Virginia, said in an e-mail today.
A drop in values has left about 22 percent of the nation’s 93 million houses, condos and co-ops with mortgages that exceed the value of the properties as of March 31, Seattle-based real estate data service Zillow.com said in a report May 6. Banks held a record $674 billion of HELOCs and $211 billion of closed- end home-equity debt as of March 31, according to FDIC data.
Originally posted by marg6043
reply to post by redhatty
No wonder Geihner is urging the government to start raising taxes to help with the unsustainable deficit.
So the calling for taxes increases on the middle class is not going to land very well with the promises that the present administration was giving to the voters.