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I have a bad feeling about this week.

What's on your mind?
General interest discussions, not necessarily related to depletion.
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Re: I have a bad feeling about this week.

Unread postby Troyboy1208 » Fri 03 Aug 2007, 09:26:44

we have nearly survived the week!! Were almost free and clear
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Re: I have a bad feeling about this week.

Unread postby firestarter » Fri 03 Aug 2007, 09:37:01

$this->bbcode_second_pass_quote('Troyboy1208', 'w')e have nearly survived the week!! Were almost free and clear



I don't think so.

Mortgage backs securities essentially went completely dormant as salable vehicles for the time being. Mortgage standards tightened precipitously.

Housing is entering another long and painful leg down relative to the antecedents listed above. Once the moronic market wraps its hands around the information--could take months--then a real correction will ensue. There's enough land mines scattered about to unwind things at a moment's notice in the meantime.

I wouldn't pop out the champaign just yet.
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Re: I have a bad feeling about this week.

Unread postby Roccland » Fri 03 Aug 2007, 09:53:10

Another Fund Halted!!
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Re: I have a bad feeling about this week.

Unread postby Zardoz » Fri 03 Aug 2007, 09:54:44

Double post...
Last edited by Zardoz on Fri 03 Aug 2007, 09:58:41, edited 1 time in total.
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Re: I have a bad feeling about this week.

Unread postby Zardoz » Fri 03 Aug 2007, 09:57:04

$this->bbcode_second_pass_quote('firestarter', '')$this->bbcode_second_pass_quote('Troyboy1208', 'W')e have nearly survived the week!! We're almost free and clear.

I wouldn't pop out the champaign just yet.

I'd put it in an ice bucket, though.

A week ago it looked like Armageddon might be at hand. Now here we are: Stocks up again, crude price stable. We're cool for a little while longer, at least.

Kudos to the Plunge Protection Team. They've slapped some more duct tape on our smoke-and-mirrors imaginary economy, and we can all continue perpetuating The Great Co-Operative Fraud for a bit yet.

Everything's fine.

*Nudge, nudge. Wink, wink*
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Re: I have a bad feeling about this week.

Unread postby firestarter » Fri 03 Aug 2007, 10:14:42

$this->bbcode_second_pass_quote('Zardoz', '')$this->bbcode_second_pass_quote('firestarter', '')$this->bbcode_second_pass_quote('Troyboy1208', 'W')e have nearly survived the week!! We're almost free and clear.

I wouldn't pop out the champaign just yet.

I'd put it in an ice bucket, though.

A week ago it looked like Armageddon might be at hand. Now here we are: Stocks up again, crude price stable. We're cool for a little while longer, at least.

Kudos to the Plunge Protection Team. They've slapped some more duct tape on our smoke-and-mirrors imaginary economy, and we can all continue perpetuating The Great Co-Operative Fraud for a bit yet.

Everything's fine.

*Nudge, nudge. Wink, wink*





I agree, Zardoz.

I expected much worse this week than has panned out....so far.

The CNN Money article you posted earlier seems to reflect the prevailing sentiment among the Wall Street wonks.

Eventually a financial landmine will shake them out of their boots. It's only a matter of when not if.
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Re: I have a bad feeling about this week.

Unread postby AlCzervik » Fri 03 Aug 2007, 16:12:31

Roccland probably posted this elsewhere, but I'm too lazy to look.

Bond turmoil worse than internet bubble: Bear CFO.
http://biz.yahoo.com/rb/070803/bearstea ... .html?.v=1
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Re: I have a bad feeling about this week.

Unread postby firestarter » Fri 03 Aug 2007, 16:19:47

It came out of a conference call at 1pm. The markets instantly tanked. Can't believe he said it:

$this->bbcode_second_pass_quote('', 'R')euters
Bond turmoil worse than Internet bubble: Bear CFO
Friday August 3, 2:50 pm ET

NEW YORK (Reuters) - Bond market turmoil sending investors fleeing from risk may be a worse predicament than the 1980s stock market fall and Internet bubble burst, Bear Stearns Chief Financial Officer Sam Molinaro said on Friday.

"These times are pretty significant in the fixed income market," Molinaro said on a conference call with analysts. "It's as been as bad as I've seen it in 22 years. The fixed income market environment we've seen in the last eight weeks has been pretty extreme."

"So, yes, we would make that comparison" to market events that also include the debt crisis of the late 1990s, he said.
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Re: I have a bad feeling about this week.

Unread postby Zardoz » Fri 03 Aug 2007, 16:22:57

Hmmm....

A I write this, the Dow is suddenly down 174 points, and the pundits are posting stuff like this:

U.S. Stocks Drop on Subprime Concern; Bear Stearns Falls

$this->bbcode_second_pass_quote('', 'U').S. stocks dropped after losses widened in the residential mortgage industry and the government said employers added fewer jobs than economists forecast in July.

Bear Stearns Cos. fell for a fourth day after Standard & Poor's cut the securities firm's credit outlook to negative. Countrywide Financial Corp. and CIT Group Inc. led financial shares to a year low after American Home Mortgage Investment Corp. told staff it will shut down.

Bear Stearns Rating Outlook Cut on Mortgage Concern

$this->bbcode_second_pass_quote('', 'B')ear Stearns Cos., the manager of two hedge funds that collapsed last month, had its credit-rating outlook cut to negative by Standard & Poor's on concern declining prices for mortgage-backed securities will reduce earnings.

U.S. Economy: Job Gains Slow, Unemployment Rate Rises

$this->bbcode_second_pass_quote('', 'E')mployers in the U.S. added fewer jobs than forecast and the unemployment rate rose as the economy cooled in response to the worst housing recession in 16 years.

Maybe I'll put the champaigne back in the cupboard.
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Re: I have a bad feeling about this week.

Unread postby Niagara » Fri 03 Aug 2007, 16:32:56

Panic selling now. Investors don't want to be holding the bag over the weekend.

Dow down by 242 as I type.

I predict the bloodbath will continue on Monday as the margin calls start ringing in.

Look at 'em dashing for the exit door :lol:
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Re: I have a bad feeling about this week.

Unread postby Zardoz » Fri 03 Aug 2007, 16:37:57

$this->bbcode_second_pass_quote('Niagara', 'P')anic selling now...

Dow down by 242 as I type.

Now 273.

Uh-oh...
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Re: I have a bad feeling about this week.

Unread postby gnm » Fri 03 Aug 2007, 16:39:44

That cat is creeping me out Zardoz....

8O

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Re: I have a bad feeling about this week.

Unread postby Twilight » Fri 03 Aug 2007, 16:46:49

Nah, it's the coolest one yet.
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Re: I have a bad feeling about this week.

Unread postby Zardoz » Fri 03 Aug 2007, 16:53:08

$this->bbcode_second_pass_quote('gnm', 'T')hat cat is creeping me out Zardoz...

You and a lot of other people.

Here's one that's a bit cheerier.

Meanwhile, Dow is now down 283...

Image

Not a good day for the DJ 30. I think I may re-name this thread again...
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Re: I have a bad feeling about this week.

Unread postby eastbay » Fri 03 Aug 2007, 17:17:49

Oh please Zardoz, we're simply clearing out some dead weight. Next week will be up, up, and away!! Just you watch and see... 8O
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Re: I have a bad feeling about this week.

Unread postby Zardoz » Fri 03 Aug 2007, 17:27:24

$this->bbcode_second_pass_quote('eastbay', 'O')h please Zardoz, we're simply clearing out some dead weight. Next week will be up, up, and away!! Just you watch and see... 8O

Well, CNNMoney agrees with you about the potential for dead weight clearing, at least:

Next victims of the credit squeeze - Trouble in the credit markets threatens to push companies already in poor health to the brink of bankruptcy.

$this->bbcode_second_pass_quote('', '.')..the fallout could get worse. Some experts say the debt crunch could squeeze underperforming companies that have, until now, been able to finance their way out of trouble - and trigger a wave of corporate bankruptcies.
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Re: I have a bad feeling about next week.

Unread postby Roccland » Fri 03 Aug 2007, 17:45:28

$this->bbcode_second_pass_quote('', 'B')ond turmoil worse than Internet bubble: Bear CFO
Friday August 3, 2:50 pm ET


NEW YORK (Reuters) - Bond market turmoil sending investors fleeing from risk may be a worse predicament than the 1980s stock market fall and Internet bubble burst, Bear Stearns Chief Financial Officer Sam Molinaro said on Friday.
"These times are pretty significant in the fixed income market," Molinaro said on a conference call with analysts. "It's as been as bad as I've seen it in 22 years. The fixed income market environment we've seen in the last eight weeks has been pretty extreme."

"So, yes, we would make that comparison" to market events that also include the debt crisis of the late 1990s, he said.


That slow crash scenario seems to be slip...slip...slipping away.

Bone crushing thud comes to mind.
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Re: I have a bad feeling about next week.

Unread postby Zardoz » Fri 03 Aug 2007, 18:32:24

$this->bbcode_second_pass_quote('Roccland', 'T')hat slow crash scenario seems to be slip...slip...slipping away.

Bone crushing thud comes to mind.

Doom, gloom, pestilence, famine, war, death, destruction, etc., etc., etc.:

U.S. Stocks Drop on Credit Woes; Bear Stearns Leads Banks Lower

$this->bbcode_second_pass_quote('', 'S')tocks tumbled on evidence losses in the mortgage market may slow the economy and reduce bank profits, sending the Standard & Poor's 500 Index to its worst three-week retreat since 2003.

Bear Stearns Cos., the manager of two hedge funds that collapsed last month, led financial shares to their biggest decline in five years after S&P cut the company's credit outlook. Energy shares dropped to the lowest since May, led by Exxon Mobil Corp. and Chevron Corp., on speculation weaker job growth and falling oil prices will hurt earnings.

The S&P 500 erased its gain for the week, falling 39.14, or 2.7 percent, to 1433.06 in its worst day since Feb. 27. The Dow Jones Industrial Average slumped 281.42, or 2.1 percent, to 13,181.91. The Nasdaq Composite Index sank 64.73, or 2.5 percent, to 2511.25.

The sell-off exacerbated a rout last week that wiped $2.1 trillion in value from global equity markets. Shares declined in Europe, with benchmark indexes dropping in all 18 western European markets except Luxembourg. An index of market volatility in the U.S. rose to a four-year high.

"We're just seeing more and more credit problems,'' said Michael Strauss, who helps manage $40 billion at Commonfund in Wilton, Connecticut. "It's going to be difficult for the market to trade with any confidence.''

Almost 12 stocks fell for every one that rose on the New York Stock Exchange as all 24 industry groups in the S&P 500 and all 30 members of the Dow fell.
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Re: I have a bad feeling about next week.

Unread postby jboogy » Fri 03 Aug 2007, 20:34:11

I got a feeling this is going to be BAD.I can't explain it but I'm getting the creeps.I've seen a few people on TV saying things could get real ugly.They NEVER say that on TV.Am I paranoid or has it started for real?
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Re: I have a bad feeling about next week.

Unread postby TWilliam » Fri 03 Aug 2007, 20:49:41

"Nahhh everything's fiiiiiine, right Jimmie?"

Bear Stearns' Cayne Goes AWOL
"It means buckle your seatbelt, Dorothy, because Kansas? Is goin' bye-bye... "
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