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

Dow Closed down nearly 2%

Dow 9,310.60 -185.68 -1.96%

reply to post by GreenBicMan


Halting the program trading is primarily for psychological value. It did not have too much of an effect today on the Dow, but it is designed to prevent big sell off panics that are not based on fundamental problems. Over in India the market can drop 50% in one night on just a rumor. Computer trading does exaggerate the trend and volatility scares away the dividend seeking crowd that have invested for their retirements. If it was just us techies trading on price than I would totally agree with you.

Originally posted by warrenb
Dow Closed down nearly 2%

Dow 9,310.60 -185.68 -1.96%

The other way, warrenb -- down is this way:

September is going to end up.
I just don't see how September can be a down month.

The bull rally is still in effect and current prices are offered as a discount to the future!!!

reply to post by THX-1138


Generally I am bearish on stocks but the markets pulled back to pretty good support levels so as you say this could be a buying opportunity.

Well...not sure if this is the follow-up or the pre-cursor to tomorrow...

All Ordinaries 4,424.300 8:13PM ET 87.000 (1.93%)
Nikkei 225 10,275.25 8:13PM ET 254.81 (2.42%)
NZSE 50 3,053.492 8:12PM ET 31.188 (1.01%)
Seoul Composite 1,595.1 8:13PM ET 27.96 (1.72%)

9302.6 9301.0 -1.60
997.19 996.5 -0.69

[edit on 9/1/2009 by Hx3_1963]

Well there's some rumors going around that a BIG BANK will die within 2 weeks maximum...

The three names:

- PNC
- Regions
or Wells Fargo.


Wells Fargo going down would be nice, but it very unlikely...and if it were to go down... That would be total doom, aka fun, for me at least. (im a doom addict)

I vote for Regions.

reply to post by Hx3_1963


The Nikkei only broke above 10,700 one day so 10,200 may be a similar support level to the Dow 9300. The Dow broke 9600 three times.

reply to post by MightyAl

According to Harry Dent, the oil prices will continue to rise until the end of the year or maybe even into 2010.

Today oil fell from $71 a barrel back to $68. A new tropical storm named Erika was named this morning and the forecast has it moving towards the US coastline.

Hopefully God will spare the continental US, but Erika is headed west north west which could take her into the Carolinas like Hugo causing a shutdown in oil platforms off the southeast coast. She could also chase Florida motorists up and down their state as they attempt to evacuate. (This kind of scenario caused Texas gas stations to run out of gasoline evacuating from one hurricane in recent years). Erika could even travel through the Florida straits and cause the oil companies to shut down their oil platforms in the Gulf of Mexico.

Not to blow the horn like Gabriel, but one might think investors would not be shorting oil with a possible hurricane threatening? Just goes to show the markets are not responding to any fundamentals. It is hard to believe that oil prices will rise to over $148 a barrel unless the US dollar drops to half its value by the end of next year.



[edit on 2-9-2009 by fromunclexcommunicate]

reply to post by Vitchilo


Wells fargo is "to big to fail" and PNC was in ... relative good health, good enough to eat National City anyways lol.. my bet would have to be regions.. not sure if it will impact the markets, hell colonial didn't even dent the advance..

Markets will pull back in Sept.. they almost always do.. and augusts super low volume imo lead to over pricing.

Originally posted by THX-1138
I just don't see how September can be a down month.

I do.

Originally posted by Rockpuck
reply to post by Vitchilo

 

Wells fargo is "to big to fail" and PNC was in ... relative good health, good enough to eat National City anyways lol.. my bet would have to be regions.. not sure if it will impact the markets, hell colonial didn't even dent the advance..

Markets will pull back in Sept.. they almost always do.. and augusts super low volume imo lead to over pricing.

It was definitely fun when crises were in the air. Now all we got is a rumor that some lousy regional bank may fail. What the hell happened to when merrill lynch, washington mutual, aig, lehman brothers, bear stearns, wachovia all failed and citi, bank of america, wells fargo were next? This is B-O-R-I-N-G

Ahhh...what a beautiful day we had...

UPDATE 1-Beijing's derivative default stance rattles banks
www.reuters.com...

Monday, August 31, 2009
China to renege on commodity contracts

A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.
~
While the details of the report could not be confirmed, it was Monday's hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit.
~
Head of Chinese government owned businesses sends letter to SIX FOREIGN BANKS stating that derivatives contracts will not be honored due to fraud.

This opens a 700 trillion dollar abyss.

DOW BANK FAILURE RUMOR WAS RIGHT - Original story changed
www.godlikeproductions.com...
www.reuters.com...

~
"The chatter from (some) hedge funds is that there is a bank default", said Jon Najarian, a founder of Web information site optionmonster.com.

Wall Street falls 2 percent on anxiety over banks' health
finance.yahoo.com...

NEW YORK (Reuters) - U.S. stocks fell for a third straight day on Tuesday, spooked by uncertainty over the health of financials and concerns that the explosive rally since March may have run ahead of economic reality.

September began living up to its reputation as the worst month for stocks as elevated anxiety pushed the three major indexes down 2 percent for the day, their worst percentage losses since Aug 17.

Skepticism that stocks can add to a nearly 50 percent rally over the last six months prevailed in the market, sending the S&P 500 below the psychologically important threshold of 1,000.

"The wall of worry that the market is trying to climb has gotten higher" into September, said Michael James, senior trader at Wedbush Morgan in Los Angeles.

"People started selling into good macro news since a few days ago, and that was accelerated today by a couple banks today," he said, adding that growing anxiety was creating major weakness in the market.

PRICE % LOSERS
finance.yahoo.com...

ACAD ACADIA Pharmaceuticals Inc. 2.00 Sep 1 Down 3.84 (65.75%) 50,927,751
BLDR Builders FirstSource, Inc. 4.98 Sep 1 Down 2.71 (35.24%) 1,145,239
OC-WTB OWENS CORNING WT A12 1.00 Sep 1 Down 0.32 (24.24%) 7,114
HX HALIFAX CP 1.21 Sep 1 Down 0.38 (23.89%) 8,404
CPRX Catalyst Pharmaceutical Partner 1.07 Sep 1 Down 0.32 (23.02%) 2,277,354
PGEB Merrill Lynch & Co., Inc. 11.02 Sep 1 Down 2.87 (20.63%) 300
AIG AMER INTL GROUP NEW 36.00 Sep 1 Down 9.33 (20.58%) 87,237,958
GMTN Gander Mountain Company 4.49 Sep 1 Down 1.13 (20.11%) 187,682
CMED China Medical Technologies, Inc 12.45 Sep 1 Down 2.95 (19.16%) 4,013,582
FRE-PY FEDERAL HME 6.55 PF 1.70 Sep 1 Down 0.40 (19.05%) 45,300
CPY C P I CORP 14.66 Sep 1 Down 3.42 (18.92%) 168,823
FRE-PU FED HOME LN MTG 1.35 Sep 1 Down 0.30 (18.18%) 56,484
FRE-PS FED HOMELN PFD 2.50 Sep 1 Down 0.5428 (17.84%) 17,425
FNM FANNIE MAE 1.59 Sep 1 Down 0.34 (17.62%) 334,323,340
ASFN Atlantic Southern Financial Gro 2.40 Sep 1 Down 0.50 (17.24%) 20,178
FNM-PF FANNIE MAE PFD F 2.57 Sep 1 Down 0.53 (17.10%) 141,840
FRE FREDDIE MAC 1.90 Sep 1 Down 0.39 (17.03%) 169,969,243
FRE-PG FREDDIE MAC VAR PFD 2.30 Sep 1 Down 0.45 (16.36%) 1,450
DRN DIREXION DAILY REAL 93.24 Sep 1 Down 17.76 (16.00%) 320,884
SUFB SuffolkFirst Bank 5.06 Sep 1 Down 0.95 (15.81%) 1,900
CRC CHROMCRAFT REVINGTON 1.13 Sep 1 Down 0.21 (15.59%) 27,483
CIT CIT GROUP INC (DEL) 1.47 Sep 1 Down 0.27 (15.52%) 103,149,125
RMBS Rambus, Inc. 16.14 Sep 1 Down 2.96 (15.50%) 12,321,168
MFLR Mayflower Bancorp, Inc. 6.69 Sep 1 Down 1.21 (15.32%) 1,100
PEDH Peoples Educational Holdings, I 2.71 Sep 1 Down 0.49 (15.31%)

Declining Issues 3,063 (79%)
Down Volume 2,904,352,952 (78%)

And here's yer Nat Gas trade...

Natural Gas Oct 09 2.856 1:06am ET Down 0.121 (4.06%)

Special Sector Indices
www.indexq.org...

GS Commodity 4077.70 -97.30 -2.33% 09/01
GSCI Agri. 304.52 -6.41 -2.06% 09/01
GSCI Livestock 197.72 0.43 0.22% 09/01
GSCI Pre Metal 1284.15 4.85 0.38% 09/01
GSCI Indu. Mtl 328.86 -11.83 -3.47% 09/01
GSCI Energy 221.59 -5.76 -2.54% 09/01

[edit on 9/2/2009 by Hx3_1963]

Sooo, banks dropped around 2-5% today,....wow.

Looking at the 100+% gains in capitalization value I have achieved in banking stocks since March, a little gas needs to be let out of that balloon anyway, before it continues to hike up.

Hey,... if YTD started at March, I know and expect a little correction to the downside to let off some steam,... but my long-haul numbers say, up.

I have bets out for a 12k DIA by end of year.

Hmmm... :shk: ...banks seem to be dragging again, along with the yen...

Shanghai Composite 2,714.974 3:00AM ET Up 31.25 (1.16%)
Nikkei 225 10,280.46 3:00AM ET Down 249.60 (2.37%)
Jakarta Composite 2,288.613 3:54AM ET Down 38.301 (1.65%)

FTSE 100 4,806.92 3:40AM ET Down 12.78 (0.27%)
CAC 40 3,561.05 3:41AM ET Down 22.39 (0.62%)
DAX 5,294.61 3:40AM ET Down 32.68 (0.61%)

9302.6 9277.0 -25.60
997.19 993.4 -3.79

[edit on 9/2/2009 by Hx3_1963]

reply to post by Hx3_1963

UPDATE 1-Beijing's derivative default stance rattles banks
www.reuters.com...

Monday, August 31, 2009
China to renege on commodity contracts

A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.
~
While the details of the report could not be confirmed, it was Monday's hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit.
~
Head of Chinese government owned businesses sends letter to SIX FOREIGN BANKS stating that derivatives contracts will not be honored due to fraud.

This opens a 700 trillion dollar abyss.

Now do you understand my comments about the "double dip" before the downfall? You don't run around the world buying up all kinds of commodities for no reason.
I will admit at first when I was following it I thought they where setting themselves up for a crash scenario. But the things they where buying up made no sense till right now.

China has set up everyone who could have gone against them in their bid to take over! The news of them allowing this coming out at this time is also NO MISTAKE!
It is September normally the worst month for any index as a whole. They chose to have it come out on Aug 31,2009 for a reason people. Most investors are sitting on the fence as far as the upcoming months business goes and guess what CHINA just pushed them off the fence. They are now running for the hills and there is no looking back.

I WILL guarantee you that if China follows thru with allowing their people to just walk away from all of the commodity crap bills they owe/OWN; WE WILL GO TO WAR.
In case you have been under a rock China was tramping around buying up all of the commodities they could get their hands on while the rest of the world was handing out bail outs hand over fist.
Now that it looks like the time is right they are going to allow MOST ALL of those purchases that have gone sour to be walked away from; they have the upper hand.
China is now the one holding the whole world hostage; WHEN they walk away and believe me they will! It will be all out war like we have never seen. (You honestly think it is a fluke that China has lost so much on their stock market in the preceding days? Someone had foreknowledge and tried to stop them.)

reply to post by xoxo stacie
Oh yeah...I caught this a long time ago, doing the depression thread...

What better time to get the most value for all the dollars they hold, than in a depression, when prices are depressed...

You see how they are practically demanding Australia sell them commodities at a 30-60 percent discount?

...Of course the Banks are still up to their toupees in debt still...

Uh yep...

reply to post by Hx3_1963


Ahh yes BUT it it really about getting the biggest bang for all those bucks they have?
Getting the BEST price for all of those companies and commodities they now own?
Or simply crashing all the companies they can; as fast as they can; before anyone has a chance to stand up?
If people look they will see that the companies they have bought into heavily are ones owned in countries where they are the staple of the economy. These some countries are the ones that have gone agaisnt China and Russia for that matter; on them being the ones in control.( This all do to the banks fudging up everything mind you. Those same banks that caused the upheaval in the economy.)
NOW they themselves are the ones who are going to be bringing down everyone who goes up against them. They have placed themselves very well in this little game they are playing! They have the world by the sack and well I am not looking forward to seeing where this goes in the days to come. The BRIC better be careful or they are going to get a handful of fist from a large amount of countries that they have bought into in an effort to gain control.
You know as well as I do that is the law of the land when it comes to things like this. What they are saying they are going to do is nothing short of declaring an all out war against the world.

Originally posted by smirkley
Sooo, banks dropped around 2-5% today,....wow.

Looking at the 100+% gains in capitalization value I have achieved in banking stocks since March, a little gas needs to be let out of that balloon anyway, before it continues to hike up.

Hey,... if YTD started at March, I know and expect a little correction to the downside to let off some steam,... but my long-haul numbers say, up.

I have bets out for a 12k DIA by end of year.

I'd love to believe you, but I don't see much evidence supporting that. Are you going by spidey-cents like me, or do you have some info supporting that?

Stocks poised to tumble
Futures sink ahead of batch of economic readings, including existing home, auto sales.

U.S. stocks were poised to extend their previous session losses Tuesday, ahead of a slew of economic reports and amid worries about how quickly markets have risen in recent months.

At 8:12 a.m. ET, Dow Jones industrial average, Nasdaq 100 and Standard & Poor's 500 futures were modestly lower.

Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.

Stocks tumbled Monday after another rout in Chinese stocks triggered a flight to safety worldwide. The Dow lost 0.5%, the S&P 500 fell 0.8%, while the Nasdaq composite shed about 0.9%.

So a pull back is expected, regarless of the "good news" during the summer.

money.cnn.com...