And ML is going to release an updated report this morning saying that the actual writedown of $7.9b exceeded expectations but not fears and that earnings from operations were better than expected.No why wasn't that reported at the original report?
No way. And there I was about to jump from the window dressed in my suit. Lucky I live on the ground floor hey.
Now the question for ML's is what more is to come? Two scenarios as far as I can see -
1. They have been ultra conservative and have written off everything bar the photocopier and the water cooler; or
2. There is more sitting on or off balance sheet which will come back to haunt them (& us, goddam them) at some future point.
Please let some sanity have prevailed and it be 1!! Otherwise I will most definitely be leaping from my window into the flower bed. Man and I just had my suit dry cleaned. Oh brother...
No way. And there I was about to jump from the window dressed in my suit. Lucky I live on the ground floor hey.
Now the question for ML's is what more is to come? Two scenarios as far as I can see -
1. They have been ultra conservative and have written off everything bar the photocopier and the water cooler; or
2. There is more sitting on or off balance sheet which will come back to haunt them (& us, goddam them) at some future point.
Please let some sanity have prevailed and it be 1!! Otherwise I will most definitely be leaping from my window into the flower bed. Man and I just had my suit dry cleaned. Oh brother...
Merrill also said it took a write-down, after fees, of $463 million for loans to firms doing leveraged buyouts. It said it still had $31 billion of similar loan commitments on its books at the end of the quarter.
Merrill said that despite the horrific quarter, its liquidity position remains strong while it attempts to resolve its remaining subprime positions.
It said at the end of the quarter it still has about $15.2 billion of CDO exposure and about $5.7 billion of subprime exposure.
A great start to the overseas markets tonight and judging by the market indicators(rising steadily),a good start to the American market.The market seems to more buoyed by the companies reporting better than expected results over those who have had a downturn;by the durable sales orders expected to come in positive after a retreat in August;by the jobless claims expected to fall and the likely rate cut by the Fed next week.
After a significant fight back in the Dow last night(and I notice that our market mirrored it rather than the Nasdaq which was down .88),a better night should be expected in America with a corresponding increase here tomorrow.Looks like the bulls are alive and snorting.
As a betting man, I reckon the bears will win through tonight. Time will tell.
No gold or silver bean? Still waiting for the big correction? I certainly expect the sp's to come off with any major market move but maybe not as much? I'll certainly be topping up gold in the next push lower.I am one who believes the market will have a major correction.
However I bought today
Tech stock and four oil stocks.
I think we are ready to have a massive blow off into the Fed meeting.
They have have said .50 % cut
Two things one everthing is revalued again by a falling US$ like last time.
The next Just how bad the US economy is.
I think we are ready to have a massive blow off .
No gold or silver bean? Still waiting for the big correction? I certainly expect the sp's to come off with any major market move but maybe not as much? I'll certainly be topping up gold in the next push lower.
Early times,but the speed of the rise in the American market tonight is mind boggling.Nasdaq up 2.1%,S & P 1% and Dow .76% in 5 minutes.
you will be pleased to know I today have only 1 oil and 1 goldKennas
Analysts paint a rosy picture and the Fed has shown they are capable of handling the situation.Perhaps the ASX will reach 7000 by the end of the week.
Yes, we are up, up & away, everybody is megga bullish, all is well and tickety Boo.
The all ords is getting ahead of itself, the Dow isn't away yet, so caution ahead I say.
There is getting a wide gap between the Dow and all ords which will narrow again as always.
US feds will cut rates this week,
Analysts paint a rosy picture and the Fed has shown they are capable of handling the situation.
you do sound very bearish. I would suspect you might be short, or in cash.
you do sound very bearish. I would suspect you might be short, or in cash. I am bullish and fully in the market and fully geared. Next stop 7000 for the ASX
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