Imminent and severe market correction

[wayneL]

Now with it going down they are calling fowl.

Being cracked up a lot lately

cheers explod

Or maybe cackled?

 

[MR.]

gfresh, the S&P500 / Dow do look similar.... do agree.

Can see some flaws though!

View attachment TIN HAT2.bmp
Just lov the pic.
Stolen / borrowed from the Trembling Hand.
You can have the hat back when I'm finished!

 

[gfresh]

great pic

GE is looking pretty sick and being led down by it's GE Capital unit.. if it keeps going we're going to see some fireworks there.

http://www.marketwatch.com/news/sto...x?guid={B9787F3A-B1C9-430E-9F67-299D953D5CD4}

risk rating for GE capital higher than citigroup

Investors continued to show a strong level of fear over GE Capital's ability to meet its debt obligations Monday morning, as the cost to insure GE Capital's debt traded at a very high level of 510 basis points, meaning it would cost $510,000 to insure $10 million in debt for five years. In comparison, the cost to insure Citigroup Inc.'s (C) debt was only 425 basis points.

 

[IFocus]

Chicken Little is a very poor analogy. He was hit on the head by an apple(IIRC) and thought the sky was falling.

However, those of us who warned of problems in the economy were more like Paul Revere, who warned the revolutionary Americans of the approaching Redcoats,

Were those who warned of the Nazi danger Chicken Littles or Paul Reveres?

Waynel if only I had a fraction of your talent for compiling words into meaning like you do...............................

 

[sassa]

China’s national pension fund said Wednesday it plans to adjust its investment portfolio this year by lowering its investment in bonds and increasing its direct equity investments as part of efforts to cope with the global and domestic economic downturns.

The pension fund also said it will invest more in equity funds and
participate in investing in the country’s major infrastructure projects.

As it is the NATIONAL pension fund … others will follow …

http://www.ridingthedax.com/2009/02/25/be-aware-of-chinese-selling-of-bonds/

This could/will have a big effect on the U.S.Treasury bond sales.

 

[Aussiejeff]

http://www.ridingthedax.com/2009/02/25/be-aware-of-chinese-selling-of-bonds/

This could/will have a big effect on the U.S.Treasury bond sales.

Just another predictable form of "protectionism".

Not to worry. OB promises all will be well soon.

Believe.....

 

[nomore4s]

GM loses another $9.6 billion and burns through $5.2 billion in cash in a 1/4

link

 

[Aussiejeff]

[size=+1]California’s Newly Poor Push Social Services to Brink [/size]

Feb. 26 (Bloomberg) -- In California’s Contra Costa County, 40,000 families are applying for just 350 affordable-housing vouchers. Church-operated pantries are running out of food. Crisis calls have more than doubled in the city of Antioch, where the Family Stress Center occupies the site of a former bank.

The worst financial crisis in seven decades is forcing thousands of previously middle-income workers to seek social services, overwhelming local agencies, clinics and nonprofits. Each month 16,000 people, including many who were making $60,000 to $100,000 annually just a few years ago, fill four county offices requesting financial, medical or food assistance.

“Unless we do things differently, not only will we continue to be on life support, but the power to the machine is going to die,” said county Supervisor Federal Glover, who represents Antioch and the cities of Pittsburg and Oakley about 50 miles (80 kilometers) east of San Francisco.

Contra Costa, an East Bay suburban region of more than 1 million, turned thousands of farmland acres into housing in the past two decades, becoming an affordable alternative to San Francisco. Now, the area is being hit by a double whammy, as rising unemployment increases demand for social services, while plunging home values shrink tax revenue and squeeze agency budgets.

County officials made $90 million in cuts during the current fiscal year, and plan to reduce another $56 million, out of a $1.2 billion general-fund budget, in the coming year. County administrator David Twa said he doesn’t expect to see a “gradual recovery” in property taxes until 2012 or 2013.

http://www.bloomberg.com/apps/news?pid=20601109&sid=as3PyDwmDEQY&refer=home

Couldn't possibly happen here, could it?

 

[GumbyLearner]

http://www.bloomberg.com/apps/news?pid=20601109&sid=as3PyDwmDEQY&refer=home

Couldn't possibly happen here, could it?

Reality call

Great fiction! Did I say Fiction?

yep FICTION

 

[MrBurns]

GM loses another $9.6 billion and burns through $5.2 billion in cash in a 1/4

link

What a dog of a company, a complete drain on the taxes of the people , let it sink and take all the hangers on (execs) with it.

 

[GumbyLearner]

What a dog of a company, a complete drain on the taxes of the people , let it sink and take all the hangers on (execs) with it.

totally agree

 

[Aussiejeff]

To Big To Fail.

BO would lose too much face.

Spare no expense in keeping it afloat.

 

[gfresh]

London down to new 6 year low..

http://www.telegraph.co.uk/finance/markets/4926462/FTSE-100-falls-to-six-year-low.html

Looks like it's really into panic mode now through most of the markets. "Late 2009 recovey" eh?

 

[Sean K]

Looks like it's really into panic mode now through most of the markets. "Late 2009 recovey" eh?

So, maybe we should buy before anyone else thinks it's the bottom?

 

[nunthewiser]

So, maybe we should buy before anyone else thinks it's the bottom?

no offense intended but geez m8 i been hearing that from a lot of so called "experts " in the media and stock circuits from 5000

patience will win the ladys on this one .......

plenny trades in the meantime tho

 

[CanOz]

Not allot of panic out there folks, methodical selling yes, panic?

Watch the VIX, i'm going to bed! (short several pairs i might add)

Cheers,



CanOz

 

[theasxgorilla]

Not allot of panic out there folks, methodical selling yes, panic?

Watch the VIX, i'm going to bed! (short several pairs i might add)

Cheers,



CanOz

Great work CanOz, hope it pans out for you.

The US looks screwed again...or is that, still screwed after all this time?

 

[Aussiejeff]

Not allot of panic out there folks, methodical selling yes, panic?

Watch the VIX, i'm going to bed! (short several pairs i might add)

Cheers,


CanOz

Yeah. Just methodical selling down to 4,000 DOW or less.

No panic at all.

 

[Green08]

To big to fail,

Maybe they should have started with the HEALTH CARE SYSTEM

or GROWERS OF PRODUCE.

Epidemics and stravation are just sooo last century.

 

[Bushman]

iTraxx is still pricing in a depression - keep those equity raisings and dividend cuts coming (unless you are an energy player like Woodside it seems).

UFB this 'dislocation in credit markets'. Way, way oversold as the good are thrown out with the bad.

As a mate of mine said, 'whatevs'.

From Insto Bond Diary:
The Australian iTraxx credit index has widened past the 400 basis points mark , trading above its all time wide of 400 basis points, reached in December 2008.

The Australian iTraxx is an actively traded basket of 25 Australian corporate credits and is regarded as a barometer for the health of Australian corporate credit.

The index opened trading this morning 15 basis points wider than the overnight close, at a 400/415 bid offer spread and looks set to move even wider today.

A sell off in global equities has put pressure on the Aussie iTraxx as weakening sentiment in credit markets and forcing corporate credit spreads wider.