Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Britain's Got Talent ) Paul Potts' 1st Audition
Economic Pessimism Highest in 17 Years
Pessimism about the economy has jumped to its highest level since November 1990, according to the Washington Post-ABC News Consumer Comfort Index.
Sixty-eight percent of Americans say the economy is getting worse, a 13-percentage-point increase since October, and nearly 30 points above the long-term average for the question.
http://blog.washingtonpost.com/behind-the-numbers/2007/11/economic_pessimism_highest_in_1.html
Europe Suspends Mortgage Bond Trading Between Banks (Update3)
By Esteban Duarte and Steve Rothwell
Nov. 21 (Bloomberg) -- European banks agreed to suspend trading in the $2.8 trillion market for mortgage debt known as covered bonds to halt a slump that has closed the region's main source of financing for home lenders.
The European Covered Bond Council, an industry group that represents securities firms and borrowers, recommended banks withdraw from trades for the first time in its three-year history until Nov. 26. Banks are still obliged to provide prices to investors, according to the statement today.
Banks including Barclays Capital, HSBC Holdings Plc and UniCredit SpA took the step as investors shun bank debt on concern lenders face more mortgage-related losses than the $50 billion disclosed. Abbey National Plc, the U.K. lender owned by Banco Santander SA, became the third financial company to cancel a sale of covered bonds in a week as investors demanded banks pay the highest interest premiums on covered bonds in five years.
``We are in a deteriorating situation,'' Patrick Amat, chairman of the Brussels-based ECBC and chief financial officer of mortgage lender Credit Immobilier de France, said in a telephone interview. ``A single sale can be like a hot potato. If repeated, this can lead to an unacceptable spread widening and you end up with an absurd situation.''
Sales Pulled >>> more
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aLzGEmrjr0fA
Closed half this morning,
#msg-24684326
Fed.(2)(3) 7day RP + 20.00B [net Add + 2.50B ]
(3)Fed. 2day RP + 5.00B
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(2)(3) 7day RP + 20.00B [net Add + 2.50B ]
(3)Fed. 2day RP + 5.00B
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Real-Time Forex Streamers (2)
http://www.netdania.com/QuoteList.asp
http://www.forex-markets.com/quotes.htm
Fed. 15day RP + 12.00B [ sofar
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 15day RP + 12.00B [ sofar
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
dow 18k
btw, i will send thoughts tomo, have much good family stuff going on.
talking heads cnbc..lol
Fed.(2)1day RP + 5.25B [net Add + 4.50B]
Fed. 3day RP + 10.00B [net drain -0.75B ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(2)1day RP + 5.25B [net Add + 4.50B]
Fed. 3day RP + 10.00B [net drain -0.75B ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 3day RP + 10.00B [net drain -0.75B ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 3day RP + 10.00B [net drain -0.75B ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Sloshing:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Hecla Mining (HL - Cramer's Take - Stockpickr - Rating), a precious metals company, has been upgraded to a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position, compelling net income growth, notable return on equity, expanding profit margins and good cash flow from operations. While no company is perfect, TheStreet.com Ratings does not currently see any significant weaknesses that are likely to detract from the generally positive outlook.
Third-quarter net income applicable to common shareholders totaled $12.4 million, or 10 cents a share, up from $900,000, or one cent a share, a year ago. Net operating cash flow has significantly increased by 104.59% over a year ago to $22.61 million and the company has vastly surpassed the industry average cash flow growth rate of 37.27%. Hecla Mining had been rated a hold since August.
http://www.thestreet.com/_yahoo/newsanalysis/ratings/10390857.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Hecla Mining (HL - Cramer's Take - Stockpickr - Rating), a precious metals company, has been upgraded to a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position, compelling net income growth, notable return on equity, expanding profit margins and good cash flow from operations. While no company is perfect, TheStreet.com Ratings does not currently see any significant weaknesses that are likely to detract from the generally positive outlook.
Third-quarter net income applicable to common shareholders totaled $12.4 million, or 10 cents a share, up from $900,000, or one cent a share, a year ago. Net operating cash flow has significantly increased by 104.59% over a year ago to $22.61 million and the company has vastly surpassed the industry average cash flow growth rate of 37.27%. Hecla Mining had been rated a hold since August.
http://www.thestreet.com/_yahoo/newsanalysis/ratings/10390857.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Edit... i have a few dec calls last week
Futures (2) + World Indices
http://www.cme.com/dta/del/globex.html
http://money.cnn.com/data/premarket/
World Indices (2) Mini Charts
Updates every 60sec ~ Watch the dates!!
http://www.wwfn.com/commentary/oscharts.html
http://www.allstocks.com/markets/World_Charts/Asian_Stock_Markets/asian_stock_markets.html
Fed. 1day RP + 10.75B [Net Add + 5.50B
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Test: http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 1day RP + 10.75B [Net Add + 5.50B
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Test: http://www.gmtfo.com/RepoReader/OMOps.aspx
W@G1 QQQQ 11/19/07 for a 11/21/07
52.00 frenchee
51.50 bob3
51.00 rayrohn
50.28 The Cap'm
Gold~ Silver~ HUI~ XAU~ US$~ €uro~ Crude < rev>
Live Charts ~ Bookmark this page –
Refresh anytime during the day.
PoG
PoS
HUI
XAU
3day $US:
€uro
Crude
'The Cap'm' for the i-Box
Gold~ Silver~ HUI~ XAU~ US$~ €uro~ Crude
#msg-24647133
Front month crude updated..
Gold~ Silver~ HUI~ XAU~ US$~ €uro~ Crude
Live Charts ~ Bookmark this page –
Refresh anytime during the day.
PoG
PoS
HUI
XAU
3day $US:
€uro
Crude
Crude
Stutterer Bernanke Tips Hand on Gold
By: Rick Ackerman, Rick's Picks
Sunday, 18 November 2007
When our bird flu correspondent, Erich Simon, is not immersed in the potentially world-ending details of the pandemic, he sometimes likes to tote up the ways in which gold bugs could eventually profit from behind-the-scenes maneuvering by the bankers and their Friends in (very) High Places. Some might think Erich paranoid for ascribing so much power to one firm in particular, Goldman Sachs. But even if Goldie does not in fact run the world, there can be no doubt that they have the kind of incestuous ties to big government that most lobbyists would kill for.
By Erich’s reckoning, bullion investments are not likely to disappoint over the long run. More immediately, though, he sees a cap on the price of gold that will be lifted only when Goldman and its good friends are “over the hump” of the financial system’s present duress. Here’s Erich:
“I mentioned to you earlier that Bernanke shows his hand when he stutters. During his recent appearance before a joint Congressional panel, I was somewhat surprised by which subjects caused him to stutter and which did not. I was also pleased that his stuttering may be telegraphing some bargain-hunting opportunities ahead in gold.
“According to Bernanke there are 450,000 mortgages resetting every quarter extending through the end of next year. No surprise there. Many of these are doomed to foreclosure. On this point Bernanke's voice was all a-stutter. He then went on to speak about "growth" in the domestic economy, and on this point his voice went beyond a stutter. It shook. The deflationary implication is now obvious. Curiously, on the subject of our huge trade deficit, his voice did not stutter. And when Ron Paul admonished the Fed Chairman about the dollar's collapse Bernanke literally wiped his nose with his index finger. The look in his eye was as scathing as it was telling.
“The job of the Fed is twofold: 1) maintaining America's leadership in the global financial forum; and 2) preserving the domestic status quo. Bernanke has shown his cards, and the implications for the price of gold, among other assets, is clear. Bernanke's foremost responsibility is to his crony Goldman Sachs. (Kudlow and Cramer, by the way, hail from that same institution, as do former Treasury secretary Robert Rubin -- now head of the largest U.S. bank -- and present Treasury Secretary Hank Paulson. Goldman Sachs IS the U.S. government.
‘Save Lenders First’
“What is a government? A militarily underwritten institution that apportions scarce resource according to man-hours of work, denominated in currency. Accordingly, Bernanke announced in his congressional testimony that his foremost responsibility is to save lending banking institutions. He advocates protecting Goldman Sachs' empire by shifting the firm's problems onto the GSEs. On this matter, the Fed Chairman's voice did not stutter.
“The implications in all of this are clear. The gold price is capped, and while it will eventually break the cap set by Goldman Sachs, whatever the price may come to be, it will do so at the discretion of Goldman Sachs and on their time. If the POG runs to $2,500, you can be sure that they will garner more than the average pound of flesh. Correspondingly, the US dollar will not, as prescients like Peter Schiff entertain, go the way of the dinosaur under such metric. War or Pandemic, however, is a far different cry.
Rigging of Dollar
“Paulson has successfully orchestrated the rigging of the dollar in collaboration with crony banks like the BIS, ECB, BOJ and BOE (Barclays); and, surprisingly, for the moment, China. The "smart money" -- no small part of which are the insiders, the henchmen providing logistical support to the Goldman empire (self-aggrandizing CEOs, etc.) -- has long moved into gold (back when the Rothschilds abandoned the London gold fix), Euros and, increasingly, tangible properties lying outside of the sinking-ship America, into high growth regions like Asia and India -- and now, increasingly, mineral rich Africa.
“This explains the absence of the bond vigilantes. The wealthy have never held their money in the equity casino. Their lifestyles are framed in the triple-A credit markets, taking sustenance from the interest earned on the shoulders of the working man. With interest payments no longer covering the cost of inflation, the Goldman Sachs oligarchy has corralled the wealth and relocated it offshore.
Orca vs Great White
“This is the essence of the fight between the Orca and Great White that I have been observing and which is now at a climax. The battle of the Big Money between those on the inside and those on the outside (i.e., the remainder of the speculating and investing community long ago disappeared from view).
“The banking system has evolved into the modern equivalent of feudalism, rooted so obviously in our present and growing real estate quagmire. Only today, rather than a feudal lord holding whip over fief and vassal, the banking system holds whip (for the time being) over the global village through the lending mechanism, usury and the strong arm of Goldman Sachs and ultimately, the U.S. military-industrial complex.
“The implications are clear. The battle between the Orca and Great White is the final battle in the global financial marketplace. In this denouement Bernanke is buying time by shifting Congress toward a taxpayer base (long in default) and Nationalization of the real estate (and banking) industries in lieu of write-downs and amends. He is not, as I had hoped, motivated to break the back of inequity, but rather to preserve it. His motive is not philanthropy. And whether the outcome is martial law, taxpayer revolution, inundation by organized crime or World War III, he is now all tooth.”
http://news.goldseek.com/RickAckerman/1195390620.php
Stutterer Bernanke Tips Hand on Gold
By: Rick Ackerman, Rick's Picks
Sunday, 18 November 2007
When our bird flu correspondent, Erich Simon, is not immersed in the potentially world-ending details of the pandemic, he sometimes likes to tote up the ways in which gold bugs could eventually profit from behind-the-scenes maneuvering by the bankers and their Friends in (very) High Places. Some might think Erich paranoid for ascribing so much power to one firm in particular, Goldman Sachs. But even if Goldie does not in fact run the world, there can be no doubt that they have the kind of incestuous ties to big government that most lobbyists would kill for.
By Erich’s reckoning, bullion investments are not likely to disappoint over the long run. More immediately, though, he sees a cap on the price of gold that will be lifted only when Goldman and its good friends are “over the hump” of the financial system’s present duress. Here’s Erich:
“I mentioned to you earlier that Bernanke shows his hand when he stutters. During his recent appearance before a joint Congressional panel, I was somewhat surprised by which subjects caused him to stutter and which did not. I was also pleased that his stuttering may be telegraphing some bargain-hunting opportunities ahead in gold.
“According to Bernanke there are 450,000 mortgages resetting every quarter extending through the end of next year. No surprise there. Many of these are doomed to foreclosure. On this point Bernanke's voice was all a-stutter. He then went on to speak about "growth" in the domestic economy, and on this point his voice went beyond a stutter. It shook. The deflationary implication is now obvious. Curiously, on the subject of our huge trade deficit, his voice did not stutter. And when Ron Paul admonished the Fed Chairman about the dollar's collapse Bernanke literally wiped his nose with his index finger. The look in his eye was as scathing as it was telling.
“The job of the Fed is twofold: 1) maintaining America's leadership in the global financial forum; and 2) preserving the domestic status quo. Bernanke has shown his cards, and the implications for the price of gold, among other assets, is clear. Bernanke's foremost responsibility is to his crony Goldman Sachs. (Kudlow and Cramer, by the way, hail from that same institution, as do former Treasury secretary Robert Rubin -- now head of the largest U.S. bank -- and present Treasury Secretary Hank Paulson. Goldman Sachs IS the U.S. government.
‘Save Lenders First’
“What is a government? A militarily underwritten institution that apportions scarce resource according to man-hours of work, denominated in currency. Accordingly, Bernanke announced in his congressional testimony that his foremost responsibility is to save lending banking institutions. He advocates protecting Goldman Sachs' empire by shifting the firm's problems onto the GSEs. On this matter, the Fed Chairman's voice did not stutter.
“The implications in all of this are clear. The gold price is capped, and while it will eventually break the cap set by Goldman Sachs, whatever the price may come to be, it will do so at the discretion of Goldman Sachs and on their time. If the POG runs to $2,500, you can be sure that they will garner more than the average pound of flesh. Correspondingly, the US dollar will not, as prescients like Peter Schiff entertain, go the way of the dinosaur under such metric. War or Pandemic, however, is a far different cry.
Rigging of Dollar
“Paulson has successfully orchestrated the rigging of the dollar in collaboration with crony banks like the BIS, ECB, BOJ and BOE (Barclays); and, surprisingly, for the moment, China. The "smart money" -- no small part of which are the insiders, the henchmen providing logistical support to the Goldman empire (self-aggrandizing CEOs, etc.) -- has long moved into gold (back when the Rothschilds abandoned the London gold fix), Euros and, increasingly, tangible properties lying outside of the sinking-ship America, into high growth regions like Asia and India -- and now, increasingly, mineral rich Africa.
“This explains the absence of the bond vigilantes. The wealthy have never held their money in the equity casino. Their lifestyles are framed in the triple-A credit markets, taking sustenance from the interest earned on the shoulders of the working man. With interest payments no longer covering the cost of inflation, the Goldman Sachs oligarchy has corralled the wealth and relocated it offshore.
Orca vs Great White
“This is the essence of the fight between the Orca and Great White that I have been observing and which is now at a climax. The battle of the Big Money between those on the inside and those on the outside (i.e., the remainder of the speculating and investing community long ago disappeared from view).
“The banking system has evolved into the modern equivalent of feudalism, rooted so obviously in our present and growing real estate quagmire. Only today, rather than a feudal lord holding whip over fief and vassal, the banking system holds whip (for the time being) over the global village through the lending mechanism, usury and the strong arm of Goldman Sachs and ultimately, the U.S. military-industrial complex.
“The implications are clear. The battle between the Orca and Great White is the final battle in the global financial marketplace. In this denouement Bernanke is buying time by shifting Congress toward a taxpayer base (long in default) and Nationalization of the real estate (and banking) industries in lieu of write-downs and amends. He is not, as I had hoped, motivated to break the back of inequity, but rather to preserve it. His motive is not philanthropy. And whether the outcome is martial law, taxpayer revolution, inundation by organized crime or World War III, he is now all tooth.”
http://news.goldseek.com/RickAckerman/1195390620.php
Fleck: No shelter from the housing storm
By Bill Fleckenstein
11/19/2007 12:01 AM ET
Money-market funds aren't looking like an investor safe haven from Wall Street's credit crisis after all. Meanwhile, a judge's ruling gives home lending another reason to seize up.
For any folks out there still branding our credit problems "contained," Mr. Money Market has one word for them: not.
In one of the first instances that I am aware of, General Electric (GE, news, msgs) announced last week that it was going to "break the buck" on its Asset Management money-market fund, a nearly unprecedented event. To do that instead of shoring up the fund, one wonders: How bad does GE think things are going to get?
Writer Andrew Bary, on Barron's Online on Wednesday, reported that the fund has "suffered losses in mortgage- and asset-backed securities and is offering investors the option to redeem their holdings at 96 cents on the dollar."
The risk in money funds is a theme I've been noting for a while. Regular readers might recall my cautionary comment in August: "As we get further down the road, I think we'll discover that some money-market funds owned commercial paper issued by a conduit whose assets may not be up to snuff. So folks with a lot of assets in money-market funds might want to double-check that they know what's in them."
Treasury-only money markets are the way to go.
This brings me to last Tuesday, when Legg Mason (LM, news, msgs) said it would add $100 million to one of its money funds and provide $238 million in credit for two others. The 10 largest managers of U.S. money funds have a good deal of special-investment-vehicle debt, some of which was issued by Cheyne Capital Management, which has already defaulted due to losses from securities linked to subprime mortgages.
Then more financial institutions announced money-market problems Wednesday, not least of which was GE. That day, a New York Times story headlined "Investor safe haven has become a concern," cited issues at Legg Mason, SunTrust Banks (STI, news, msgs) and Wachovia (WB, news, msgs), which have stepped in to make sure their money funds don't break the buck.
In the homes-as-collateral department, for folks who own paper based on that, there's a new reason to worry. In another Times story, "Foreclosures hit a snag for lenders," reporter Gretchen Morgenson wrote: "A federal judge in Ohio has ruled against a longstanding foreclosure practice, potentially creating an obstacle for lenders trying to reclaim properties from troubled borrowers and raising questions about the legal standing of investors in mortgage securities pools."
Federal Judge Christopher Boyko of Cleveland ruled that the mortgage investors had failed to prove they owned the properties they were trying to seize. "The institutions seem to adopt the attitude that since they have been doing this for so long, unchallenged, this practice equates with legal compliance," Boyko ruled. "Finally put to the test, their weak legal arguments compel the court to stop them at the gate."
So what has been looming for a while is now upon us, and it's liable to create a real tug of war between homes as collateral and the lending sector. That is another reason why lending in the housing sector will seize up.
I'm not a lawyer, so I don't know how this will work out, but it's starting off rather poorly for those investors in mortgage pools who think that lenders will be able to sell the underlying assets. It's just another problem for the dark-matter universe to contend with. If Boyko's ruling stands and is used as a model in other states, life is going to get very complicated indeed.
The latest on Nastech
Finally, for anyone with an interest in Nastech Pharmaceutical (NSTK, news, msgs), I wrote about the company Wednesday in my daily column on my Web site. Rather than reprise the commentary here -- because its detailed nature conflicts with the format of this column -- I am making my daily column free for one week. To access the Market Rap, click here and use NSTK as the user name and password.
http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/NoShelterFromTheHousingStorm.aspx
wonderbuy, ty...what time do
update / publish Oops ??
many here are playing off the info & change in format may or not be better.
Thoughts please from all.
WB, your board has gained alot past couple months..all players.
Fed. Ops: 34.25B Matures this week.
Mon: 5.25B 3day
Wed:
(1) 9.00B 13day
(2) 20.00B 6day
Float: 42.25B
==================================================
Temp Ops:
Perm Ops:
=========================================================
Public Debt:
Limit ~ $9,815. T
11/15 ~ $9,113. T
Fed. Ops: 34.25B Matures this week.
Mon: 5.25B 3day
Wed:
(1) 9.00B 13day
(2) 20.00B 6day
Float: 42.25B
==================================================
Temp Ops:
Perm Ops:
=========================================================
Public Debt:
Limit ~ $9,815. T
11/15 ~ $9,113. T
The Cap'm gets a Double, solid hit./
Fed. 3day RP + 5.25B [ net DRAIN -14.00B ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Fed. 3day RP + 5.25B [ net DRAIN -14.00B ]
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Real-Time Forex Streamers (2)
http://www.netdania.com/QuoteList.asp
http://www.forex-markets.com/quotes.htm
Had that problem yesterday
had to call & insist on free trades + close a few losing positions with fees waved.....the did it! on sidelines now.
yes, 47.25B hail mary save the queen/
Fed.(2)(3) 6day RP + 20.00 [ net + 6.75B ]
(3)Fed. 1day RP + 19.25B
http://www.ny.frb.org/markets/omo/dmm/temp.cfm
Fed.(2)(3) 6day RP + 20.00 [ net + 6.75B ]
(3)Fed. 1day RP + 19.25B
http://www.ny.frb.org/markets/omo/dmm/temp.cfm