Imminent and severe market correction

[ithatheekret]

Bob Pisani I think that's his name just labelled us all closet analysts .
So he's a closet specialists now , just cost CNBC a subscription .

 

[wayneL]

Bob Pisani I think that's his name just labelled us all closet analysts .
So he's a closet specialists now , just cost CNBC a subscription .

I have only one thing to say about the likes of Bob Pisant:

Pfffffffffffffft!

 

[ithatheekret]

Silly comment by him really , it's a stock market channel . Watched by techs and fundies , but to insult them is plain stupid .

The customer is not always right , but you don't insult them on a global tv channel , just because all your calls are wrong .

He needs a nice corner with a pointy hat and something big shoved down his gob ......... like the beige book .

 

[wayneL]

Silly comment by him really , it's a stock market channel . Watched by techs and fundies , but to insult them is plain stupid .

The customer is not always right , but you don't insult them on a global tv channel , just because all your calls are wrong .

He needs a nice corner with a pointy hat and something big shoved down his gob ......... like the beige book .

But thats what they do... insult our intelligence on a daily basis.

I would never willingly pay for that crap. Had it when I was trading (briefly) at a firm and ended up turning that sh*t off; just asinine.

 

[theasxgorilla]

Bob Pisani I think that's his name just labelled us all closet analysts .
So he's a closet specialists now , just cost CNBC a subscription .

What a moron...closet infers the wrong thing. Is anyone here ashamed to admit to being an analyst? Hack, amateur, wanna-be maybe...but closet? Not I.

 

[Kauri]

Moody"s had cut the AAA rating of SCA"s bond insurance units(monoline). As has been a typical ploy of ratings agencies in recent sessions, the ratings changes all seem to come in the last minutes of trading.
Cheeers
...........Kauri

 

[treefrog]

What a moron...closet infers the wrong thing. Is anyone here ashamed to admit to being an analyst? Hack, amateur, wanna-be maybe...but closet? Not I.

gotta sound more academic than analyst gor, so need to do what the academics do - take a word with a clear simple meaning and add "ology" to it, so fer us traders who use t/a, fundamentals, and media sentiment a good one is equitologist - which means the study and trading of equities or equitology
how do I know this? - because I made it up!

 

[dhukka]

For those that believe Fed interest cut rates are a cure-all for the economy. Check out this excerpt from Philadelphia Fed President Charles Plosser's speech yesterday;

"Although it might be tempting to think that monetary policy is the solution to most, if not all, economic ills, this is not the case. I think it is particularly important, for example, to recognize that monetary policy cannot solve all the problems the economy and financial system now face. It cannot solve the bad debt problems in the mortgage market. It cannot re-price the risks of securities backed by subprime loans. It cannot solve the problems faced by those financial firms at risk of being given lower ratings by rating agencies because some of their assets are now worth much less than previously thought. The markets will have to solve these problems, as indeed they will. But it will take some time."

 

[sam76]

anyone had a look at the Futures in Europe




DJStoxx 600 314.14 -6.21 -1.94
FTSE 100 5,724.10 -151.30 -2.58
DAX 30 6,733.72 -113.79 -1.66
CAC 40 4,723.80 -92.63 -1.92
S&P/MIB 33,227.00 -629.00 -1.86

 

[nomore4s]

anyone had a look at the Futures in Europe




DJStoxx 600 314.14 -6.21 -1.94
FTSE 100 5,724.10 -151.30 -2.58
DAX 30 6,733.72 -113.79 -1.66
CAC 40 4,723.80 -92.63 -1.92
S&P/MIB 33,227.00 -629.00 -1.86

Aren't they last nights figures?

 

[Buffettology]

For those that believe Fed interest cut rates are a cure-all for the economy. Check out this excerpt from Philadelphia Fed President Charles Plosser's speech yesterday;

Good post Dhukka.

This is why I am sitting on the sidelines. A lot of things have to settle before we can get back to the bullmarket ways, but there are sure to be some good buys as this plays out. However, just how long will that take, a year, two?

Monetary policy can also not cure a slow growth, high inflationary economy. Which makes it a catch 22.

Here is a good fact also:

It is estimated output growth falls by 1/3 of a percent in the first and second years, and 1-6 of a percent in the third year, after a 1 percent increase in the short term interest rate (IR) and vice-versa.

Therefore, most of the effects of these recent cuts in the US wont be seen until a full year +.

 

[ithatheekret]

What a moron...closet infers the wrong thing. Is anyone here ashamed to admit to being an analyst? Hack, amateur, wanna-be maybe...but closet? Not I.

It also sounded like ......" trust us not yourselves ". Yeah right Bob .

Amazing when we are witnessing the demise of the US financial system due to a thorough breach of integrity . That breach of integrity has seen an entirely new wave of persons looking at charts , trying to find a trade they can trust .

Strewth if the bloke can't figure out the entire ordeal is about TRUST & PROPRIETY , then he's a sorry excuse , because therein lies his answer .

The closet is where he belongs , he's been reporting the events and it just hasn't registered with him and he needs to reassess the situation with proper regard . Not insult the broad base of CNBCs clientele .

If money talks and BS walks , he'd best start running . He wants limelight fine but we only have quicklime for him , hang on a tic , I'll just get a bucket of water too .

 

[numbercruncher]

Just another little tidbit of recessionary evidence

NEW YORK ”” Here's a sign of how shaky the economy has become: Wal-Mart says its shoppers are redeeming their holiday gift cards for basic items ”” pasta sauce, diapers, laundry detergent ”” instead of iPods or DVDs.

http://www.chron.com/disp/story.mpl/headline/biz/5524018.html

 

[Real1ty]

Just another little tidbit of recessionary evidence

NEW YORK — Here's a sign of how shaky the economy has become: Wal-Mart says its shoppers are redeeming their holiday gift cards for basic items — pasta sauce, diapers, laundry detergent — instead of iPods or DVDs.

http://www.chron.com/disp/story.mpl/headline/biz/5524018.html

Oh the horror

 

[Wysiwyg]

Just another little tidbit of recessionary evidence

Good find,

 

[Kauri]

rumour is that there is a large CDO unwind going on, perhaps at a
French bank. The German bank IKB too is in the news as it seeks up to EUR 2 bln in capital. life is hard if you don't weaken...
Cheers
.........Kauri

 

[chops_a_must]

rumour is that there is a large CDO unwind going on, perhaps at a
French bank. The German bank IKB too is in the news as it seeks up to EUR 2 bln in capital. life is hard if you don't weaken...
Cheers
.........Kauri

Looks like it's Sock Gen.

Another trader or ten are under investigation. Playing pin the loss on the trader. Little do they know the donkey in this case is Sock Gen.

Did anyone find it very suspicious they were one of the ones wanting to bail out to bond insurers?

 

[numbercruncher]

Bear Stearns Is `Short' Subprime Mortgages $1 Billion (Update2)

By Bradley Keoun

Feb. 8 (Bloomberg) -- Bear Stearns Cos., the U.S. securities firm that posted its first-ever loss last quarter on mortgage writedowns, has more than $1 billion of trades that profit if subprime home loans and bonds continue to deteriorate.

The ``short'' positions on subprime mortgage securities increased from $600 million at the end of November, Chief Financial Officer Sam Molinaro said today at an investor conference in Naples, Florida. The company also reduced its holdings of so-called collateralized debt obligations and underlying bonds, Molinaro said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.2mZwwn1WtU&refer=home


You can understand why, still tons more resets (amd carnage) coming

 

[Kauri]

increasing liquidity crisis with banks in Russia with officials downplaying the talk but reports that the government may have to use the Pension Fund to maintain liquidity.

the broad-based emergence of more credit concerns over Fitch warnings and fresh GMAC ResCap jitters, let alone the rumors and speculation over European assets . Adding to the ongoing barrage of credit news is the move by S&P to cut 63 ratings of $5.218 bln of US CDOs of ABS

 

[ithatheekret]

rumour is that there is a large CDO unwind going on, perhaps at a
French bank. The German bank IKB too is in the news as it seeks up to EUR 2 bln in capital. life is hard if you don't weaken...
Cheers
.........Kauri

Nothing worse than not knowing what the subsiduaries have done , especially for a bank . I remember them hoisting the profit flag last year , in November I think . To be somewhere in the precinct of $400M if I recall ..........

Then Deutsche Industriebanks shares fell when the news hit the floors and the shares hit the fans . Utterly amazing when we consider the pile of reforms that have been rubber stamped all the way .

A German State bank came to the rescue , I don't know who going to rescue the State bank . To say the matter is complex is an understatement in the least . This financial tsunami has spread across the pond and hit every target along the way . The derivative exposure faced has never been seen before it's a first in scale , whilst not within the realms of dynamics , the sheer size of the exposure is massive . Sure we have seen a spout of pure absorbtion of the risk, but we must also consider that we have never seen the risk levels such as we have ........ ever before .

The structuring plans have crumbled , but the spinners keep on making their wool , the banks knit it into knots . Northern Rock is now No Rocks . The Asian players , learnt some lessons in the 90's , Japan had it's semaphores in the 80's and ignored all calls to let it crash and burn , many of those calls from the same people now , trying to advert the current crisis in the same way as they told Japan not to . Japan went deaf then , it seems the US is now going one better on each count , going deaf dumb and blind to reality .

Derivatives I thought were used to divert risk , they have become the risk now .

So how did they get in such a mess of tangles ?

They relied on ratings !

The motto do your own research was tossed out the window and with it went the profits and the safety nets that were strung up to protect them .

The last century is full of examples , but nobody seems to have noticed , well those that work in the top floors of banks anyway .

If so many lessons are out there to take heed from , how could they possibly not have noticed ?

I think it's a matter of transparency and denial . IKB is a prime example .