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

reply to post by Hx3_1963


If we hired some independent forensic accountants we could bust them. But you're right though the lying scum in the regulatory agencies are going to protect the politicians and their campaign donors. Before us.

reply to post by johnny2127


That is why he should go to jail for writing that memo. It is a blatant lie. In fact I can think of a lot of people that need to go to prison.

Originally posted by elston
Cool, (not) bigger government wants to create a new agency to look out for investors. One of these guys is from my state of IL. Wonder if Obama owes him a favor.

www.bloomberg.com...

March 10 (Bloomberg) -- Senators Richard Durbin of Illinois and Charles Schumer of New York introduced a measure to create a financial oversight agency to help consumers obtain financial products such as mortgages, credit cards and retirement savings accounts without “hidden dangers or unreasonable tricks.”

What???

Since when is a Financial Product NOT Dangerous & Unreasonable???

Another wonderful way to squeeze fees & charges from "Investors"!!!
Pennys from heaven add up...
(Can anyone say Crook?)


[edit on 3/10/2009 by Hx3_1963]

reply to post by Hx3_1963


What scares me about all of this is many of the Democrats inclination to think that govt is the solution to all problems. The cure all.

Last thing we need is more govt, another agency, another expenditure. The concept of a small federal govt like the founding fathers wanted is rapidly going away. Thats not because of Democrats or Republicans. It because of both. Govt grew more under Bush than any president in history, and Obama's big govt policies are like Bush's on steroids.

I feel like the markets been raised a bit higher by a crane, that's about to fall off the building it's attached to... Not only do we have farther to fall, but something big, hard, and heavy is going to land on us.

reply to post by Hx3_1963


Well the shorts should have known this was coming. You can't short forever, and the last two weeks have been really kind to them. Even the more bearish folks were hoping for a rally soon.

As for CITI being profitable? I'd say the chances of that are the same as the sun turning bright green, the tooth fairy being photographed, Bigfoot doing an interview on Good Morning America, and OJ catching the real killers -- all in the same day.

I was wrong about the sell off at the end of the day, so it looks like this has potential to be "The Rally". Lets see how far it takes us, or if it was just a flash in the pan.

Sadly if it's sustained, there will be calls that the financial crisis is all over and behind us -- then destruction will be sure and swift when it the other shoe begins to drop.

I've been following and watching for some time now. Thanks to all the input and the info! I still don't know much about the markets and won't pretend to, but my gut says, this is going to be short lived and we are far from seeing the end of it.

Well thanks for helping me understand the "miracle" of citi today, I wonder if what they are doing with "leaking information" is supposed to be illegal.

But at the rate things are working now a days in Wal-street and the government the line between illegal and down right dirty is hard to discern.

Still Buffet was all positive today on TV making everybody that listen feel warm and cozy.

reply to post by marg6043


It isn't illegal to release a memo, but it is illegal to lie about the health of your company. Let me clarify that last statement with an example, you can't go on national TV as the CEO of a company that is about to declare bankruptcy and say everything is peachy.

I think it was intentionally released to send the market into a rally so all the big time people that just got 3/4 of their money wiped out in the stock game have a chance to recoup some of their funds.

I think the rats are about to start fleeing a sinking ship and turn the light on the cockroaches on their way out.



[edit on 10-3-2009 by Hastobemoretolife]

I haven't quite caught up on today's market action yet. I do intend to read more on the Citi memo. At first glance it appears to be blatant market manipulation, but the SEC hasn't enforced any regulation on that in years, and I really can't name a time they went after someone who illegally leaked something and it had a positive effect on a market.

I was listening to the news on the way home and heard the citi memo characterized as an "operating profit". If so, given Citi's huge amount of potential toxic assetts, Citi could still swing to a loss for the Quarter, and I'm inclined to believe they will.

The market was due for a bounce. I'm a Bear and I've been expecting a rally for a little while now. Is this a dead cat bounce? I dunno maybe, I guess we'll have to wait and see if this bottom holds after being retested.

Whatever profits Citi made, should be openly returned to the taxpayers,Bernake should be strung up by his bills,this market gain seems highly suspicious


[edit on 10-3-2009 by all2human]

reply to post by Not Authorized
I know a rally was due and recently mentioned it, but, this shouldn't have been it.

It should of been based on at least, the appearence of, some kind of Fundamentals...not a leaked Memo, patting employees on the back for ripping off taxpayers, while claiming profit...

I know getting squeezed was a real possibility the longer the drought continued, but, dang this was blatent...ever see the movie Trading Places with the Orange Juice futures plot?
---
Nikkei 225 7,287.61 8:40PM ET 232.63 (3.30%)
Nikkei 225 7,331.37 9:10PM ET 276.39 (3.92%)
Nikkei 225 7,340.36 9:56PM ET 285.38 (4.05%)

NZSE 50 2,501.82 8:39PM ET 39.12 (1.59%)
NZSE 50 2,500.15 9:10PM ET 37.45 (1.52%)
NZSE 50 2,501.47 9:57PM ET 38.76 (1.57%)

Seoul Composite 1,119.97 8:40PM ET 27.77 (2.54%)
Seoul Composite 1,121.53 9:10PM ET 29.33 (2.69%)
Seoul Composite 1,121.16 9:57PM ET 28.96 (2.65%)

Straits Times 1,524.96 9:03PM ET 39.21 (2.64%)
Straits Times 1,518.60 9:39PM ET 32.85 (2.21%)
Straits Times 1,516.20 10:02PM ET 30.45 (2.05%)

Hang Seng 12,130.37 10:03PM ET 436.32 (3.73%)
---
Gold $893
Oil $45.53
---
S&P 500 +2.10 718.10 3/10 10:54pm
Fair Value 719.40 3/10 10:08pm
Difference* -1.30

NASDAQ +6.00 1112.00 3/10 10:15pm
Fair Value 1112.56 3/10 10:08pm
Difference* -0.56

Dow Jones +3.00 6890.00 3/10 10:46pm
---
Mar 10 8:00pm ET

Citigroup Inc 1.58 +0.13
Bank Of America... 5.16 +0.37
General Electri... 9.05 +0.18
---
March 11th:

US - MBA Purchase Applications (wk3/6, 2009) 7:00 AM wk3/6, 2009

US - Quarterly Services Survey (Q4:08) 10:00 AM Q4:08

US - EIA Petroleum Status Report (wk3/6, 2009) 10:30 AM wk3/6, 2009

US - 10-Yr Note Auction () 1:00 PM

US - Treasury Budget (Feb, 2009) 2:00 PM Feb, 2009
Treasury Budget - Level -205.70B

US - Equity Settlements (3-17-09) 8:00 PM 3-17-09

ALL - 52-Week Bill Settlement (52-Week Bill Settlement) 8:00 PM 52-Week Bill Settlement

US - Weekly Bill Settlements (Weekly Bill Settlement) 8:00 PM Weekly Bill Settlement

[edit on 3/10/2009 by Hx3_1963]

I will post this morning...
And the complete one tonight.

LAYOFF DAILY UPDATE
Wed 3-11-2009

Sony Pictures -350

Coachmen Industries Idles Plant -90

Charlotte-Mecklenburg Schools -500

Eaton Corp. Furloughs -450

Pepsi Bottling Plant Closing -66

Grand Junction Steel Closing -100

Kadant Closing Plant -32

Wonderbread Closing 2 Plants -187

Armstrong Flooring Closing Plant -172

AOL -700

LA Schools Face Cuts Up To -8,000

Tahoe Truckee School District -95

Toro Company -235

RTI International Metals

reply to post by Hx3_1963


Oh man if this is the rally, then things are way worse than what people think.

The predictions of riots and civil disobedience by the end of this year isn't looking to far out of the question.




11407 so far for tomorrow w/ predicted cuts.

[edit on 10-3-2009 by Hastobemoretolife]

More like a "dead rat" bounce if you ask me...I was appalled to read about the reaction of the market to the "news."
Not buyin' it.

[edit on 10-3-2009 by irishchic]

S&P 500 +2.10 718.10 3/10 10:54pm
Fair Value 719.40 3/10 10:08pm
Difference* -1.30

NASDAQ +6.00 1112.00 3/10 10:15pm
Fair Value 1112.56 3/10 10:08pm
Difference* -0.56

Dow Jones +9.00 6896.00 3/10 11:01pm
---
Nikkei 225 7,338.16 10:00PM ET 283.18 (4.01%)
Hang Seng 12,135.14 11:09PM ET 441.09 (3.77%)
Seoul Composite 1,124.92 11:05PM ET 32.72 (3.00%)


[edit on 3/10/2009 by Hx3_1963]

reply to post by irishchic


Everybody else seems to be buying it.

I'm not buying it, I just find it highly coincidental that Citi just happened to leak a memo stating that they made a "profit" in the first two months of the quarter.

Sounds more like Market Manipulation. After all if they didn't get their stock above 1 dollar they would be taken off the index after 30 days. There was noway that was going to happen unless something miraculous happened like them actually turning a profit.

We still will have to watch for a few days to see if it really is a rally, it's showing signs like one though. We'll see though.

I'm not holding my breath.

[edit on 10-3-2009 by Hastobemoretolife]

www.foxnews.com...

Priceless.

Obviously they have no shame left.

reply to post by Hastobemoretolife
Speaking about the $1 rule...

The Quarterly Reporting Deadline is coming up also...

Trying to pad their losses with "imagined gains" to eek by?

Crisis? What crisis?
www.marketwatch.com...
Commentary: Citi's Pandit and B of A's Lewis diverge in damage control
Last update: 9:19 a.m. EDT March 10, 2009

NEW YORK (MarketWatch) -- Vikram Pandit, the chief executive brought in to manage the troubled Citigroup Inc., is sticking to his well worn line that not only is the bank in fine shape, its main problem is that its undervalued.

"Despite the steps we've taken to strengthen our capital base, I am, like you, disappointed with our current stock price and the broad-based misperceptions about our company and its financial position," Pandit wrote in a memo to employees Monday. "I don't believe it reflects the strengths of Citi ; our newly strengthened capital base, our unique global franchise." Read Citi memo.

To Pandit, Citigroup's $1 share price is the result of investors who are mistaken about Citigroup's ability to ride out the recession. He claims Citi has been profitable so far in 2009, but it's a hollow hope that almost fully ignores four separate government interventions at a cost or commitment of close to $400 billion and a dilution of existing shareholders.
Up to a third of Citi could be owned by the federal government under the latest bailout announced a few days ago.

The reality at Citigroup is so bad that Bank of America Corp. chief executive Ken Lewis has defended his bank by distinguishing its performance against Citigroup. He suggests B of A will not need more government money and that the bank's acceptance of $20 billion to buttress its acquisition of Merrill Lynch & Co. was a strategic mistake that eroded confidence.

OK...


[edit on 3/10/2009 by Hx3_1963]

reply to post by Hx3_1963


Sounds like they are ready to line up at the trough again. With AIG being the governments pet I'm guessing they need some "good news" in order for them to get more bailout money.

McCain and others are talking loudly about letting the banks fail and with them having a stock worth less than 1 dollar and dropping, I imagine that congress would be open to the idea to let one fail and see what happens.

If they let one bank fail and then the congress critters see a positive reaction to it, then their golfing buddy's at Goldman Sacs and other places will be SOL and congress will let the rest of them fail.

So yea, throw up some "imaginary gains" to show that they have potential to turn around so it looks like they are worth saving.

If Citi fails and when their assets go to market to be sold for penny's on the dollar and a little confidence is restored it is game over for the Fed and IMF.

_____

Imagine that I didn't even read any articles about Citi just heard the news about them releasing the "memo".

That would be the quickest way to restore confidence though, let the banks fail and make them sell their assets that way the people have real data to work with and the bottom will be found.

[edit on 10-3-2009 by Hastobemoretolife]

reply to post by Hastobemoretolife
I thought I heard that the Major Financials are less than 10% total weight on the DJIA now, so, I don't think it would kill Wall St...maybe a few Counter-Partys/Government Officals/Defense Contractors/ect...



Funniest thing of all...+38% was only 40 cents

- Citigroup shares, which closed Monday down 95 percent on
year-ago levels, rose 38 percent on Wall Street, pushing up
other bank stocks
---
S&P 500 +1.90 717.90 3/10 11:49pm
Fair Value 719.40 3/10 10:08pm
Difference* -1.50

NASDAQ +6.00 1112.00 3/10 10:15pm
Fair Value 1112.56 3/10 10:08pm
Difference* -0.56

Dow Jones +18.00 6905.00 3/10 11:08pm
---
Nikkei 225 7,352.66 Mar 10 297.68 (4.22%)
Seoul Composite 1,122.14 11:51PM ET 29.94 (2.74%)
Taiwan Weighted 4,772.41 11:51PM ET 101.39 (2.17%)
Hang Seng 12,020.89 11:56PM ET 326.84 (2.79%)
---
Gold $898.15 ^
Oil $45.75 ^
Gas $1.294 V

[edit on 3/10/2009 by Hx3_1963]