They had a feature on this the other night on Bloomberg - the RV (Recreational Vehicle) indicator. President of the RV organisation was not too gloomy about the situation though - expecting next year to be flat or slight decline. Unlike other recessions where they really saw a plunge in the RV indicator.and now for the latest indicator.. just in case there are not enough out there already...
Cheers
............Kauri
Look out for the massive rally today, as the dow Jones moved up hard overnight
You mean like yesterday when the DOW closed +215 and we followed by closing down -68 ?
You mean like yesterday when the DOW closed +215 and we followed by closing down -68 ?
Yeah what's that all about anyway?? When was the last time the DOW went up 2% and we went down 1%?
Dhukka, do you know what % of revenue Citi get from sub prime related products compared to the rest of their revenue streams. Also, what is the % of their writedowns related to sub prime, compared to overall profit?
The reason I ask is that we're hearing a great deal about write downs, but I'm not hearing how that compares to their profit. Same for the others banks with sub prime write downs. Could it be just a small percentage of revenue?
As you say, their overall balance sheet is $2 trillion, so how much damage is the current and suspected write downs doing to do long term?
Don't worry if you haven't got the info handy, I'll look for it myself otherwise.
Cheers.
You mean like yesterday when the DOW closed +215 and we followed by closing down -68 ?
China Fund - Seeking Reasonable Long-Term Returns Over DowJones. The fund notes that it is looking at only "acceptable" risk. According to the report, the fund has no plans to invest in infrastructure but will focus mainly on financial products traded in the open market and index products. It will initially invest via fund managers, noting that it will need more time to prepare for large investments. Branches at major international financial centers will be opened, as per reports earlier this week that they are hiring Japanese strategists. This news Fed into talk of major investments in Japanese stocks and a major rally on the TSE on Monday.
That won't be the case IMO today Nizar. As mentioned in the XAO Analysis thread yesterday, we put a low in some days ago. As much as I have a bearish bias myself and would dearly like to see this market get smashed, the bears will have to wait till next year(perhapsd Feb/March when this leg is due to finish) for that, and for now the market will put in one final leg to new highs.
Its not fair, US goes up heaps and we only go up by a bit. But when US goes down we go down by round about the same. Dodgy. And as for China, they go up way more than any of the others
This better mean that when profit takers move in on US or the dow drops on some bad news that we go up. That would only seem fair to me
is patently false. How about Tuesday for example? Our market fell -0.6% after the US market was off more than -1.5% the previous night."the US goes up heaps and we only go up by a bit. But when US goes down we go down by round about the same."
Your claim that is patently false. How about Tuesday for example? Our market fell -0.6% after the US market was off more than -1.5% the previous night.
All the US indices have come off more than 10% from their October highs (excluding the rally of the last two days) by contrast the ASX fell -7.8% from it's highs to it's low last week. The US market has clearly felt more pain to the downside than than our market.
What seems fair to you is irrelevant, the market does with it does, fairness has nothing to do with it.
Correct me if I am wrong, but I believe that compared to world markets, we have zoomed ahead of major world indexes, so we are probably going to see some stagnation as the rest catch up. The alternative is to expect some index retraction to pull the Aussie market back in line.
Otherwise we are going to do what we would all like, and that is to be the leading world index, on a comparative percentage growth rate. I suspect my first option of some stagnation would be most likely.
This is just "gut feeling" stuff, no technical basis
Your claim that is patently false. How about Tuesday for example? Our market fell -0.6% after the US market was off more than -1.5% the previous night.
All the US indices have come off more than 10% from their October highs (excluding the rally of the last two days) by contrast the ASX fell -7.8% from it's highs to it's low last week. The US market has clearly felt more pain to the downside than than our market.
What seems fair to you is irrelevant, the market does with it does, fairness has nothing to do with it.
I know of Northern Rock and the mega bail out by the Treasury dept. , heard news of Alliance & Leicester top up by Credit Suisse . A&L also had to write down 100M p.stg. in treasury investments , but won't record it as a loss ....
Also , one that I thought was very shrewd Virgin & Richard B. has helped with 200M p.stg. input with chains attached if performance targets are achieved .
Noting that "the" $$Wilbur Ross$$ ( US) will be assisting with restucturing .
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