Wednesdays Close looked like this:
Oil closed down today to $134.60pb. Down a total of $4.14.
Gold closed down today to $962.70pb. Down a total of $16.00.
Dow closed at 11,239.28 today. Up 276.74 points.
Thursdays Market open will probably be to the up side unless fundamentals change overnight in the areas of oil or earnings.
This Short Term Rally might take us to Dow 11400 or 11700, so please don't go too long too fast and feel comfortable.
Keep an eye on the USO and watch the key support levels of 110, 100, and 95. Today it closed below 110 @ 109.25. So if it continues to break, 100 will be the next level to keep any eye on.
Can anyone tell me how the Financials intend to make any money with new legislation pending that will regulate them to fractional earnings? No doubt they will find a way to make earnings happen, but not in the first 1-2 years of coming out of the credit crunch.
Good Fortune from Trade-Equity.com!!!
Wednesday, July 16, 2008
Friends of the Fed and Hank Paulson(Senate Hearing Video)
Things keep getting better with the "Blank Check" Crowd.
The first thing we hear is....some institutions are not too big to fail.
Now this action says that certain companies can be saved and our gov officials will say who gets saved and who does not.
http://www.sec.gov/news/press/2008/2008-143.htm
The SEC has issued a list of companies that have been identified by the commission.
" Washington, D.C., July 15, 2008 - The Securities and Exchange Commission today issued an emergency order to enhance investor protections against "naked" short selling in the securities of Fannie Mae, Freddie Mac, and primary dealers at commercial and investment banks."
This is a 2 hour video of the hearings where Paulson and Bernanke speak out about why the GOV should give them a "Blank Check"
The securities identified in the Commission's order:
Company Ticker Symbol(s)
BNP Paribas Securities Corp. BNPQF or BNPQY
Bank of America Corporation BAC
Barclays PLC BCS
Citigroup Inc. C
Credit Suisse Group CS
Daiwa Securities Group Inc. DSECY
Deutsche Bank Group AG DB
Allianz SE AZ
Goldman, Sachs Group Inc GS
Royal Bank ADS RBS
HSBC Holdings PLC ADS HBC and HSI
J. P. Morgan Chase & Co. JPM
Lehman Brothers Holdings Inc. LEH
Merrill Lynch & Co., Inc. MER
Mizuho Financial Group, Inc. MFG
Morgan Stanley MS
UBS AG UBS
Freddie Mac FRE
Fannie Mae FNM
This favored situation is costing taxpayers money and should not happen. The market should subsidize the risk that are taken by some of the worlds largest financiers.
Please stop the political crap and let the markets work.
Good Fortune from Trade-Equity!!!
The first thing we hear is....some institutions are not too big to fail.
Now this action says that certain companies can be saved and our gov officials will say who gets saved and who does not.
http://www.sec.gov/news/press/2008/2008-143.htm
The SEC has issued a list of companies that have been identified by the commission.
" Washington, D.C., July 15, 2008 - The Securities and Exchange Commission today issued an emergency order to enhance investor protections against "naked" short selling in the securities of Fannie Mae, Freddie Mac, and primary dealers at commercial and investment banks."
This is a 2 hour video of the hearings where Paulson and Bernanke speak out about why the GOV should give them a "Blank Check"
The securities identified in the Commission's order:
Company Ticker Symbol(s)
BNP Paribas Securities Corp. BNPQF or BNPQY
Bank of America Corporation BAC
Barclays PLC BCS
Citigroup Inc. C
Credit Suisse Group CS
Daiwa Securities Group Inc. DSECY
Deutsche Bank Group AG DB
Allianz SE AZ
Goldman, Sachs Group Inc GS
Royal Bank ADS RBS
HSBC Holdings PLC ADS HBC and HSI
J. P. Morgan Chase & Co. JPM
Lehman Brothers Holdings Inc. LEH
Merrill Lynch & Co., Inc. MER
Mizuho Financial Group, Inc. MFG
Morgan Stanley MS
UBS AG UBS
Freddie Mac FRE
Fannie Mae FNM
This favored situation is costing taxpayers money and should not happen. The market should subsidize the risk that are taken by some of the worlds largest financiers.
Please stop the political crap and let the markets work.
Good Fortune from Trade-Equity!!!
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