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DOW
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soloman
Master |
16-Mar-2008 12:07
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Bloomberg on Bear Sterns : Fed invoked a law last used in the 1960s to lend to Bear Stearns through JPMorgan Chase & Co. to forestall a market panic. |
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iPunter
Supreme |
15-Mar-2008 18:18
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The Dow Chart looks precarious... it's good to bet on further slides... (Bulls may choose to believe the opposite) |
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winsontkl
Elite |
15-Mar-2008 18:09
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Not a pretty sight...SIAM!!!! |
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soloman
Master |
15-Mar-2008 15:34
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Run on a bank like Northern Rock may happen Monday STI will dive also like DOW Obviously cracks are really happening now |
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soloman
Master |
15-Mar-2008 09:31
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Previously - I have said some banks will fail It sure is happening now |
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idesa168
Elite |
15-Mar-2008 02:10
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Elf, dun be so on, on holiday still posting! You should be shopping, partying and doing sightseeing, and not glued to the computer. Hope we will not see your posting till you come back! Arbitrager, The FED do not have deep pocket, but they have a printing press that can print as much dollars as they like at no cost! I am sure in no time, the value of US$ will become banana paper. Maybe that's what the Banana King (Bernanke) likes it to be! |
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ChinChye
Member |
15-Mar-2008 02:08
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Haiz.. good luck guys... Bear Stearns really surprise everyone.. now -222points.. Trade with care all... May the forces be with u... |
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Arbitrager
Senior |
15-Mar-2008 01:50
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Sell on strength or rally from now on.. Being calling for selling since Jan. Its a disaster we nv seen before.. bigger and worse than 97 Asian financial crisis, dot.com bubble.. Most banks, funds and bond insurers will be coming out to ask for help/bailout from fed. I wan to see how deep is their pocket.. Like i said, it just the tip of the iceberg and more uglier things will be surfacing soon... I dun think there will be any rate cut rally if fed cut 50-75bsp. US will be selling on confirmation.. More downside for construction, property, shipping and fiancial sectors/counters. caveat captor applies. |
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elfinchilde
Elite |
15-Mar-2008 01:28
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hey all; careful of the DJIA. if you look at its 6 mth chart, the M formation is almost in place already: lower low, lower high has been formed. A dip on increased vol below ~11,750 (the lowest of the first wave down of the M), will signify new downtrend. So in tandem, would expect STI not to hold. Expecting brief rally when fed cuts, likely by 75 basis pts, from the looks of it. Thereaft down. Next week, goldman, merril and a few other heavyweights report results; already there's the warning it won't be pretty. fyi the 6 mth DJIA chart. http://money.cnn.com/quote/chart/chart.html?pg=ch&symb=djia&time=6mo&freq=1dy&charts=0&comp=&compidx=aaaaa%7E0&ind_compind=&uf=0&lf=1&ma=0&maval=60 |
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cyjjerry85
Elite |
15-Mar-2008 01:14
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Aghhhhhhhhhh!!!!!!!!!!!! will people still buy up with Fed cuts hope????? on a personal opinion, i really thought tonight DOW will cheong with the inflation curbed for the time being bring cheers to the market...and with rate cuts anticipation, should bring DOW up tonight.... but this is really worrying.........even if suddenly DOW cheong tonight at the last half hour...i won't dare buy...look at wad Bear Stearns declared last minute...others may follow suit....just like those subprime problems...one announce...followed by the rest one by one all pop out... CNN Money:
Big brokerage houses expected to post poor results next week as credit crisis widens. Even venerable Goldman Sachs and Lehman Brothers thought to falter.
Wall Street tumbles on worries about Bear Stearns' liquidity, record oil, gas and gold prices, weak dollar.
Some economists, including one Fed member, say more rate cuts could be bad for the economy. But most expect Bernanke & Co. to slash rates again Tuesday. |
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idesa168
Elite |
15-Mar-2008 00:13
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The ball game is like this: who comes out to declare first, will be punished hard. They rest will get lighter punishment. One local example recently was Sembcorp Marine with huge losses on Forex. Everyone knows that US$ was loosing steam then and all should have some substantial losses in the exchange. Subsequently, one by one came out with quarterly earning report declaring the losses, but they were not punished like the SembMarine. I do strongly believe there will be more to come, but the mkt will somehow forgive these group. But I hope those declaring next will not come out with "reason" of last 12 hours thingy! |
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cyjjerry85
Elite |
15-Mar-2008 00:02
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let's just keep out fingers cross and hope that ppl will buy up in the US Markets in a late rally...(it happened a few times already isn't it?) ...just hope la hor...cos still got Fed cut ma...but if never, then really no eyes to watch this scene next week |
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cyjjerry85
Elite |
14-Mar-2008 23:54
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Honesty is the best policy....Bear Stearns should just come clean much earlier on...kept in their denial...then suddenly drop us this bombshell...now many of us are again in fear don't know what is ahead of us if any other financials are going to drop a sudden bombshell on us looking at our own shares dropping day by day is painful enough |
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ace6868
Member |
14-Mar-2008 23:48
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Yea, idesa168, u r right. The CEO and all the top executives should be sacked or they should have the dignity to resign. Unfortunately, the investors & shareholders of Bear Stearns are being "punished". Then the rest of us will also be "punished" when STI goes Red. Me also holding cash except some Blues for long term..... Was also following Elf's and your comments in the Gold Thread, interesting but not ready/very sure about it. Will need to learn more before going into Gold...... but my wife is holding alot of Gold... physical gold(jewellery, that is)... hahaha. |
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cyjjerry85
Elite |
14-Mar-2008 23:45
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CNN Money: BREAKING NEWS President
Bush, saying economy is facing 'tough times,' calls on Congress to move
on bills to help imperiled homeowners. More soon.
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idesa168
Elite |
14-Mar-2008 23:35
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Hi ace, I have the same sentiments as you and I believe we are not the only ones to think that way. The banking empire were not built in the last 24 hours, so are their profits/earning and loss. I do believe that everyone was waiting for the first one to step out to declare deeper losses. All of them lun and see who comes out first. Happens that Bears Stearns cannot lun further. But their excuse were too ridiculous to have said the 24 hours story. They think the investors and mkt are all 3 year old kids. I think there will be more to come. I am out of the mkt and on CASH and GOLD only. |
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ace6868
Member |
14-Mar-2008 23:26
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I wonder how many more "Bear Stearns" are there still in the US, who are still in "denial" of their losses until buay tahan, must come out and declare.....Would you believe??!!.... "The company said its liquidity position had "significantly deteriorated" in the last 24 hours, forcing it to seek aid. "Bear Stearns has been the subject of a multitude of market rumors regarding our liquidity," said Alan Schwartz, the company's president and chief executive. "We have tried to confront and dispel these rumors and parse fact from fiction. Nevertheless, amidst this market chatter, our liquidity position in the last 24 hours had significantly deteriorated," he said. (Yahoo! News) A Banking giant, overnight, suddenly realise their liquidity down the drain, simply in the last 24 hrs ?? Like that die la...... Looks like next week gonig to be RED week again. Shorting Time again... |
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elisa28
Member |
14-Mar-2008 22:40
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LATEST: DOWN -220 POINTS |
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Andrew
Master |
14-Mar-2008 22:28
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DJ down 151 points. The reason :
The federal government and JPMorgan Chase & Co. teamed up on a bailout of Bear Stearns Cos. on Friday, a last-ditch move to save the investment bank, which acknowledged its dire financial straits after a week of firm denials. |
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stevento
Senior |
14-Mar-2008 22:28
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Bear Stearns Cos., the No. 5 U.S. investment bank, said Thursday a
bigger-than-expected writedown in its mortgage portfolio caused the
first quarterly loss in the company's 84-year history. Bear Stearns also said members of its executive committee, including Chief Executive James Cayne, will not receive bonuses for 2007. The fiscal fourth-quarter loss after paying preferred dividends was $859 million, or $6.90 per share, compared to a profit of $558 million, or $4 per share, a year earlier. The company had negative net revenue of $379 million, compared to revenue of $2.41 billion a year earlier. The results broadly missed Wall Street expectations, as analysts were unable to get a handle on exactly how exposed Bear Stearns was to risky subprime mortgage securities. Analysts polled by Thomson Financial had expected a loss of $1.79 per share on $625.1 million of revenue for the quarter ended Nov. 30. No analyst polled by Thomson expected a loss of more than $2.45 per share. |
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