Monthly Archives: September 2008

tuesday update

SHORT TERM: market rebounds solidly on oversold rally, DOW +485 Overnight the Asian markets initially sold off and then recovered to close mixed. Europe opened lower, but recovered to close +1.05%. US index futures traded higher in the early hours, and … Continue reading

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monday update

SHORT TERM: banks fail, "bailout plan" fails, market fails, DOW -778 Sunday evening Congressional leaders released a non-partisan draft of the Emergency Economic Stabilization Act of 2008. It appeared our illustrious politicians had come to agreement on addressing the credit … Continue reading

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expanded chart coverage

The SPX 500 is divided into nine sectors, these sectors are traded as ETF’s, and are generally called SPDR’s. We have been tracking one of these SPDR’s, the financial XLF. In an attempt to help our foreign readers, and some in … Continue reading

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weekend update

REVIEW After the big surge in stocks late last week. This week was filled with mostly disappointing news. Economic reports such as homes sales, jobless claims, and durable goods orders continued to go in the wrong direction. WAMU failed on thursday, the … Continue reading

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friday update

SHORT TERM: market holds support after Republican surprise, DOW +119 After six days of hearings and negotiations, the "bailout plan" was in its final stages of being completed. Then in a "political theatrical stunt", with six weeks before the national elections, … Continue reading

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thursday update

SHORT TERM: "bailout plan" fundamentally approved, DOW +168 Overnight the Asian markets were mostly lower, Europe opened lower but closed +2.00%. US index futures were generally flat overnight, and at 8:30 weekly jobless claims rose 493K vs. 461K. Also durable goods orders … Continue reading

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wednesday update

SHORT TERM: consolidation day near support, DOW -29 Last night Warren Buffet stoked the financial market with a $5 bln cash, for perpetual preferred stock with warrants, infusion into GS. GS and the finanical sectors rallied driving the US index … Continue reading

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tuesday update

SHORT TERM: buyers strike continues, DOW -162 Overnight the Asian markets were all lower, Europe opened lower and closed -1.35%. Yesterday, after the close, the FED issued the following statement regarding banks holding companies: http://www.federalreserve.gov/newsevents/press/bcreg/20080922c.htm. Then at 7:30 this morning the … Continue reading

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monday update

SHORT TERM: bailout euphoria wanes as inflation fears rise, DOW -373 The FED kickoff the weekend friday night with the following release: http://www.federalreserve.gov/newsevents/press/monetary/20080919c.htm. Then Ameribank, based in W.Va. was reported to have failed, the 12th bank this year. Also reports circulated all … Continue reading

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weekend update

REVIEW What a week! After the Treasury/FED decided to test the market by letting LEH file chapter 11 on monday, the market responded. On monday the DOW dropped 500 points. On tuesday the insurance giant AIG failed and the Treasury … Continue reading

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