Cara's Commentary & Community Chat, Fri., Jan. 30, 2009

[8:05am ET] Humungous Bank & Broker (HB&B) has paid out a total of $18.4 billion in bonuses for 2008, the sixth largest payout ever, in a year where they took clients to the largest financial losses in modern history, and also shortly after the ex-Treasury Secretary


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Johnny
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Johnny

omphalos – It’s going to be a resounding spike if it happens with the DJIA alread -116 and the S&P future @808. I didn’t need that coffee this morning!

tango6
Guest
tango6

“Spike down in the morning following overseas, then an abrupt turnaround following the NAPM report. XLB’s charts since Monday, 26th on the one, five minute and 60 min scales are showing what I’d call a bottom.”

Would that be a big bottom or a little bottom? I mean, do you see a multi-day bull rally beginning today?

Craig
Guest
Craig

All this from the home of American fries?

Maybe, just maybe, the trouble is the view *outside* SF and California.
Perhaps those outside should think about how limiting their POV is.
There are TWO sides to every observation, right?

As someone born in California (So. Cal.)and then moved to Washington in the 70’s, I see both sides and they both have some merit….but it is true that as California goes, so goes the nation, sooner or later.

tango6
Guest
tango6

Thanks for your thoughts, and your concern for a fellow trader, on GERN. It looked bullish to me – I liked the recent gap up on good volume when the rest of the market was swooning. It’s above MAs (except the 5 hour) and that was a 3mo high it posted. My MACD is bullish but the RSI isn’t. Anyway, I don’t really want to be long anything right now except some form of au & ag. If I do take that girl out, I guarantee it will be only on a short exploratory date.

Again, multitnx.

Bull Hunter
Guest
Bull Hunter

Good morning from Pennsylvania, home of the Super Bowl Champion Pittsburgh Steelers.

SNDK – Coverage Initiated @ Auriga U.S.A. with a Sell. Price Target = $8

mikede
Guest
mikede

The Teachers steps up to complain about poor managment at Petrocan.
http://gold.globeinvestor.com/servlet/ArticleNews/

NYUGrad
Guest
NYUGrad

DJ 7869
Nasdaq 1476
S&P 814
as of 2:32am eastern
http://tinyurl.com/28u232

Asia overnight
http://tinyurl.com/a8qvjq

Gold Global Spot price down from Friday NY close
http://tinyurl.com/cq41
$908.50
as of 2:35 am Eastern

EDIT: If we see a lot of volatility and looks like we will with round 2 of stimulus planning, it may be the opportunity i need to get back into gold.

omphalos
Guest
omphalos

Mark, this shouldn’t be construed as personal attack, any more than the same criticism I’ll also make of 2nd_Ave. It’s more of a big Yes, But… I gather the two of you live in the Bay Area. I did too, for 10+ years. ’92 -04. Lived in India for a spell, then SW Ohio for two years. I’m now in Seattle. SF’s weltanschauung (if I may be so pedagogical) and its newspaper, the Chronicle, are so out of kilter with the ideals and practicalities of the majority of the other states in our union as to be laughable and indeed… Read more »

Ron Sen
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Ron Sen
seadog
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seadog

All protectionism has ever done is increase costs for the country that’s trying to protect its citizens/markets/companies…. artificial barriers never work, never, unless you’re a short term porker. More robbing Peter to pay Paul. Just look at Europe’s food subsidies which simply increase the cost and decrease the quality of food in Europe.

Mark Barry
Guest
Mark Barry

Thanks 2nd. Isn’t this the time then stop this nonsense about American jobs being shipped over seas? Not the time to let the world know we are their trading partners and friends? There was an interesting, although scary, article in the SF Chronicle explaining that the City would be able to buy new buses with money available from the stimulus package. “As for the possibility that much of that money might land over seas, where Muni and AC Transit have purchased potions of their fleet in the past? Not to worry, locals tell us -every dime has a ‘buy American’… Read more »

2nd_ave
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2nd_ave

Mark- When I hear “Buy American,” it takes me back to the 1974-82 recession. I’m not an economist, but from a common sense perspective, I would be inclined to argue against it as I think it would: (a) invite retaliation…one of many examples that occurs to me is whether voluntary agreements that protect intellectual property would continue to be honored…very little stands in the way of illegal copying/reproduction of software, textbooks, film, music, or branded products as it is; once we start limiting free trade, it may go by the wayside.. (b) reward inefficiency…what incentive would high-cost producers in the… Read more »

David
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David

Some instinct is telling me to be a little more conservative with buying ACI now. So I canceled my buy limit order at $14.50 and moved the other one to $14.25.

jock
Guest
jock

Just before the close on Jan. 27, ECU Silver (an emerging producer) announced a “bought deal financing” with units priced at C$0.70. Each unit consists of 1 share plus 1 five-year warrant at 0.95. For 18 trading days, ECU had stayed above 0.77. Since the announcement, the stock has fallen to 0.59. – a loss of 23% in market cap. What happened? I don’t know, but have a good guess. If you were a hedge fund manager who held the stock, you probably got an early indication of the financing and its terms. If you were holding stock at or… Read more »

jock
Guest
jock

Just before the close on Jan. 27, ECU Silver (an emerging producer) announced a “bought deal financing” with units priced at C$0.70. Each unit consists of 1 share plus 1 five-year warrant at 0.95. For 18 trading days, ECU had stayed above 0.77. Since the announcement, the stock has fallen to 0.59. – a loss of 23% in market cap. What happened? I don’t know, but have a good guess. If you were a hedge fund manager who held the stock, you probably got an early indication of the financing and its terms. If you were holding stock at or… Read more »

NYUGrad
Guest
NYUGrad

…to throw into amendments to the Stimulus passed last week. I like the idea. it’s a start. but i also think people who have not missed a payment in the past 24 months or more, to be awarded 2% fixed 30 yr. and those in foreclosure but can show income etc, 4% fixed 30 yr. Then people with homes can either A) pay down their homes quicker, or B) use the extra cash to save/spend/invest. The tax credit works like an interest-free loan and must be repaid over a 15-year period. repayments start in 2010 at $500 per month. the… Read more »

jock
Guest
jock

Just before the close on Jan. 27, ECU Silver (an emerging producer) announced a “bought deal financing” with units priced at C$0.70. Each unit consists of 1 share plus 1 five-year warrant at 0.95. For 18 trading days, ECU had stayed above 0.77. Since the announcement, the stock has fallen to 0.59. – a loss of 23% in market cap. What happened? I don’t know, but have a good guess. If you were a hedge fund manager who held the stock, you probably got an early indication of the financing and its terms. If you were holding stock at or… Read more »

Mark Barry
Guest
Mark Barry

Not much comment from the group regarding this “provision” in the stimulus package. Seems to me this would be the fastest way to convert this recession into a depression. This is Obama’s best chance to show the world that business as usual here is over. 2nd?
Casino was packed last night. Much more than usual for super bowl. I agree with Bill’s feeling that Americans understand where we are and are ready to move forward.

jock
Guest
jock

Peter Thiel in Davos suggests in 2009, US$ and yen will strengthen, that UK is the worst country to invest in on the planet. Doesn’t matter if he’s right, just that we think about it …

http://tinyurl.com/aezku8

NYUGrad
Guest
NYUGrad