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Peg_li ( Date: 24-Aug-2009 23:23) Posted:
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hi, you post true message or not?
do mislead the readers!
handon ( Date: 24-Aug-2009 23:19) Posted:
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iPunter ( Date: 24-Aug-2009 22:40) Posted:
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Bears are in no mood to be angry...
They would most likely be shivering in their pants... hehehe...
Those shorters will be face black!
congratulation to those bravers who still hold stocks!
take the chance and maximum your profit!
New economic data set to test Wall Street bull run
NEW YORK (AFP) - - New US economic data in the coming week will test the resilience of Wall Street as US shares scaled fresh highs for the year on upbeat remarks by Federal Reserve chief Ben Bernanke and buoyant housing data.
The blue-chip Dow Jones Industrial Average was up 184.56 points or 1.9 percent for the week to finish at 9,505.96 on Friday. The blue-chip index had not finished above 9,500 since early November and has now climbed about 45 percent from its March low.
The tech-heavy Nasdaq composite leapt 35.38 points (1.7 percent) to 2,020.90 and the broad-market Standard & Poor's 500 index advanced 22.04 points (2.1 percent) to 1,026.13 -- the third consecutive weekly close atop the millennium level.
Analysts said new data next week, including a second preliminary estimate of US gross domestic product (GDP) for the second quarter on Thursday, would be critical in gauging market resilience.
The initial estimate showed the US economy contracting 1.0 percent in the April-June period following a severe 6.4 percent contraction in the first quarter.
Most analysts expect the new estimate to show a greater contraction of 1.4 percent.
"The market might be due for a pullback, but we view that as a healthy shakeout and remain constructive on the overall market and economic outlook," analysts at Charles Schwab and Co. said in a note to clients.
"Despite investor sentiment getting a bit overly optimistic -- usually a contrarian indicator -- we remain largely constructive on the market," they said.
Other data could prove soothing to the market.
Analysts expect rises in the Conference Board's August consumer confidence index and the Commerce Department's July durable goods orders and new-home sales that would further boost expectations that the US economy has hit bottom.
There will also be fresh data on personal income and consumption that will evaluate the mood of US consumers, who remains the weak link in the recovery.
In a further sign that the recession in the world's largest economy was easing, the National Association of Realtors reported Friday that US existing-home sales surged 7.2 percent in July to a seasonally adjusted annual rate of 5.24 million units.
"This was the fourth consecutive rise in demand, the first time we have seen that in five years," said Joel Naroff, chief economist of Naroff Economic Advisors. "The housing market has lifted off."
IHS Global Insight US economist Patrick Newport said new data in the coming week "will be mostly positive, showing an economy slowly on the mend."
Even so, some market analysts have expressed caution.
"The month of August has indeed been one of a churning correction that slowly is removing the excesses built up from the March 9 lows," said Wells Fargo Advisors chief market strategist Al Goldman.
"We thus believe next week probably holds some additional correction action."
Bonds fell the past week amid the stock rally. The yield on the 10-year Treasury bonds dropped to 3.556 from 3.558 the week earlier and that on the 30-year bond fell to 4.359 from 4.406. Bond yields and prices move in opposite directions.
Yes, the market is always there... depends on each person risk appetite, trade with care...
Integrity ( Date: 22-Aug-2009 16:06) Posted:
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Aug 21, 2009, 9:33 p.m. EST
Four more banks fail, with 2009 tally now at 81
Guaranty Bank of Texas joins list of biggest U.S. bank failures of all time
SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corp. on Friday announced four more bank failures, including a Texas bank with total assets of about $13 billion, pushing this year's tally up to 81.
Guaranty Bank of Austin, Texas became the 81st bank failure of 2009 after it was closed by Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corp. as receiver, the federal agency said late Friday.
Guaranty Bank also joined the list of the 12 biggest U.S. bank failures of all time.
The FDIC said it has entered into a "purchase and assumption agreement" with BBVA Compass of Birmingham, Ala. As of June 30, Guaranty Bank had total assets about $13 billion and total deposits of about $12 billion.
The bank was one of the largest based in Texas, but had been reeling from nearly $1.5 billion in mortgage write-downs.
This year, 81 banks have failed as a lingering recession and surging unemployment leaves the industry nursing heavy loan losses. More than 1,000 banks may fail during the next three to five years, RBC Capital Markets estimated in February. See full story.
Guaranty /quotes/comstock/13*!gfg/quotes/nls/gfg (GFG 0.29, -0.02, -6.45%) , which started in 1988, had more than 150 branches in Texas and California, according to its Web site.
Earlier this month, Colonial BancGroup, which was shut down and sold to BB&T Corp. /quotes/comstock/13*!bbt/quotes/nls/bbt (BBT 28.03, +0.25, +0.90%) last week, became the biggest bank failure this year and the sixth-largest in U.S. history. Washington Mutual, which collapsed last year, was the biggest ever.
Guaranty Financial /quotes/comstock/13*!gfg/quotes/nls/gfgsaid earlier this year that it wrote down the value of some of its mortgage-backed security holdings by $1.45 billion, while taking a goodwill charge of $107 million. That left it with negative capital at the end of March.
Guaranty had been trying to raise new capital with the help of the FDIC and the Office of Thrift Supervision, but the losses scuppered those plans.
Meanwhile, Ebank, based in Atlanta, became the 78th bank failure of 2009, the FDIC said. Stearns Bank of St. Cloud, Minn. will assume all of the deposits and purchase Ebank's assets.
As of July 10, Ebank had assets of $143 million and total deposits of about $130 million. The failure marks the 17th in Georgia for the year.
First Coweta, Newnan, Ga., became the 79th bank to fail, after it was closed by the Georgia Department of Banking and Finance which appointed the FDIC as receiver, the agency said Friday.
The regulator said it has entered into a purchase and assumption agreement with United Bank, Zebulon, Ga., to assume all deposits of the bank, excluding those from brokers.
As of July 31, First Coweta's assets totaled $167 million, and it ad total deposits of roughly $155 million.
CapitalSouth Bank of Birmingham, Ala. became the 80th bank failure after it was closed by the Alabama State Banking Department, which appointed the FDIC as receiver, the agency also said Friday.
The FDIC said it has entered into a "purchase and assumption agreement with Iberiabank, Lafayette, La. to assume all of the deposits of CapitalSouth Bank, excluding those from brokers."
As of June 30, CapitalSouth had assets of $617 million and total deposits of roughly $546 million, according to the FDIC.
Decided to watch the video (usually no patience for such things) since Integrity posted the link. What he had said could be regurgitated by anyone ...the fact is that there is no solution - globalisation has created a complex global system with virtue and vicious cycles...the system feeds itself like the mother nature....more carbon dioxide more global warming,..
For the time being, upside potential is higher than downsize - thanks to US woes resetting the vicous cycle to a virtue one... have to wait for signs of greed to reset the system (and China will be the next one able to trigger such an impact ),
http://www.youtube.com/watch?v=e_JzAEzYLt4
Video by HS Dent, if what he predict is true then i think we will need to prepare for the worst soon.
cheongwee ( Date: 21-Aug-2009 23:47) Posted:
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cheongwee ( Date: 21-Aug-2009 23:43) Posted:
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handon ( Date: 22-Aug-2009 01:35) Posted:
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