Boards
News
Market Data
Markets
Discover
Discover
AI Subscribe Login/Register account icon
S&P 500
6,611.83
(
0.44%
)
US TECH 100
23,538.00
(
0.59%
)
Dow Jones
46,669.88
(
0.36%
)
Brent Oil
107.06
(
-1.94%
)
Bitcoin
69,498.14
(
0.71%
)
News Focus
News Focus

Replies to post #32089 on The Black Box

Replies to #32089 on The Black Box
icon url

michalel97123

08/15/07 3:50 PM

#32090 RE: wahz #32089

i am old enuff to have experience this type of meltdown before. I think wahz is ancient also and i will defer to him on this. But my memory says that when we identify a bottom and make the plunge in order for this pain to be all worthwhile we go financial. Without the financials there is no market. A basked of brokers, global banks, US banks goldman, small piece in mortgage insurers. When this turns they will make up half their losses in no time. At that point switch back into tech

EDIT i didnt see i was answering you thats why the reference to you in the post
icon url

michalel97123

08/15/07 3:54 PM

#32091 RE: wahz #32089

8 minutes 59 points to down 200 again
icon url

michalel97123

08/15/07 8:43 PM

#32098 RE: wahz #32089

http://finance.yahoo.com/q/bc?s=%5EDJI&t=my

Long term we are fine. I spoke to some friends at a big firm who are involved with hedge funds. They are happy 8/15 is behind them--its the last day for redemptions in the period 9/30-10/15 approx. Whatever the gross numbers are at least they are out there now and the hedgies can plan accordingly. Many anticipated redemptions and/or met margin calls because of inabllity to value mortgage portfolio.
Thought is also is that these numbers and I dont know how one gets them, is what the fed was looking for before they took more definitive action than just pushing cash to the banks. Banks are apparently taking that money at 4% and setting it aside for reserves against their own portfolio losses. Fed wont let that happen for long it is thought. Spend it or dont borrow it.
Anyway starting tomorrow or the next day, we can expect a clearer message from the fed. Joke is that they didnt change their message last week about inflation and now they may have to do a 180. Perhaps not. If they are to look foolish maybe they only want to look foolish once rather than lower rates and then after quicker than expected bounce back they have to do another 180 if inflation shows its ugly head. All of the above is speculation. It offers some hope as to what may happen tomorrow into monday-tuesday if this continues in the markets.