Any pictures of “The Red Nuisance,” from this day on, are nothing more than Hollywood photoshops.
Developing…
UPDATE:
| C Citi’s hits: 15 times $100 mln – WSJ (24.74Â ) | |
| The Wall Street Journal reports Citigroup (C) disclosed that traders in its investment bank piled up daily losses of more than $100 mln on 15 separate occasions last year. Those 15 days, which Citigroup disclosed in its annual report filed late Friday but declined yesterday to describe in detail, added to worries the bank’s problems are deeper than those that led to about $20 bln in mortgage-related write-downs last year, the ouster of its chief executive and a sinking stock price. In a statement last night, a Citigroup spokeswoman said the trading disclosure “highlights the volatility that existed in the markets in 2007. There were many days when we saw significant gains, including more than 55 where revenue gains exceeded $100 mln.” In its report, Citigroup gave significantly more detail about its exposure to and involvement with off-balance-sheet vehicles. The figures suggested investors still need to worry about what they can’t quite see on the bank’s books. Citigroup said off-balance-sheet entities connected to it had total assets of $356 bln, compared to $388 bln at the end of 2006. The 2007 figure, however, didn’t include $58 bln in SIVs, assets Citigroup now carries on its own books, which were included in the prior year’s tally. Of those assets, Citigroup has a maximum possible exposure to loss of about $152 bln, compared to $148 bln the previous year. About $14 bln of this potential loss comes from the bank’s continuing exposure to CDOs which analysts fear could be in for further downgrades. |
You fool.
90% of your readers were from Mars:
http://ecx.images-amazon.com/images/I/6167Q610CHL._SS500_.jpg
Good, never trusted that little fucker!
Now, while your weilding your etherial ugly stick, do something about the US peso will ya? I need to covert some cash back to Aussie dollars from that 3rd world currency.
The Fly has gone Solar.
Odd, no?
and Obama is destroying Billary … not that she needed any help self-destructing
According to the UK Times, a proposed $3B bailout by a consortium including Barclays (BCS) and Royal Bank of Scotland (RBS) may not be enough to save troubled Ambac (ABK). Sources believe some of the banks in the consortium are concerned Ambac may require more than the extra $3B and that Ambac’s financial decline could result in more bank write-offs. Banc of America analysts believe the “worst-case scenario” would put Ambac losses “around $8B.”
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3434636.ece
The past few years of “growth” have been nothing but Enron on a global scale. All these “deals” to bail things out are going to accomplish nothing but slow the selloffs down.
Ignore PPI, its just a myth. Inflation is good for the market. Just wait we will be up 500 today. Fucking fuck faces.
I was wondering what that gravitational distortion was this morning. I didn’t wake up with bedhead.
I woke up with “Eraserhead.”
Alais: BPOE:
Eraserhead ? Is that like your cock is dead?
Nobody believes an extra $3 billion is going to help MBIA which secures over $600 billion in fake money. They probably need about $50 billion for an honest AAA rating so — unless you can find some Arabs and Chinese willing to throw another $47 billion this way — it’s Ponzi economics.
Citigroup is just Enron except it’s got government protection to keep fleecing everyone (i.e. taxpayers).
Inflation is only good for the market up until a POINT. That point being where the consumer runs out of money after buying gas and food. Inflation in food/energy does not equal global inflation. With the massive writedowns in bad debt and housing values — the world is facing massive DEFLATION. Credit is draining out the black hole. That, my friend, is a truly bad situation for any long equities. Deflation is going to rip CNBC Diptards a new one. (i.e. Kudblow).
“daily losses of more than $100 mln on 15 separate occasions last year……more than 55 where revenue gains exceeded $100 mln”
Wow, what kind of time machine are they using? The one we use here has problems flipping the coin properly.
@Sir D RE MBIA: Exactly! The whole thing is a scam. At least they slashed their dividend! That 174 MM annually will really help out the $600 billion in obligations. :p
It has all been a scam ever since the Federal Reserve was created. Yet you guys act all shocked that their is manipulation in the system. The smart money is playing the game.
For what it’s worth IBD says we’re in a confirmed rally.
Economic data is shitty… Fed’s hands are tied…. consumer is “ass-fucked”…. market should go down…
But… chart showing bullish “technicals”… “cheese wedge” and “celery stalk” pattern… late-day rally… bail-outs….. market should go up…
What do I do???
Gotta buy!!! Yeah, buy!!! DOW TO 15,000!!!!
*head explodes*
HWAY getting homo hammer
Holly GOOGle snacks. That fucker is becoming a value play!
Oh I got plenty of SKF now…
IBD in confirmed rally!!!!!!!!
I’m guessing you’ve never backtested their indicator. It works about 50% of the time — it actually works around 45% of the time after a severe downtrend. You may as well flip a coin — heads is a confirmed rally. You’ll do just as well as following IBD’s calls.
Confirmed rally my hairy nutsack.
Got some DUG now too but the masses still think oil is going to 200/barrel despite demand falling off a cliff. Not this week.
“for what it’s worth” means exactly just that. Stop being retarded.
Allright Mother Market, you were matronly in letting the fucktards clear out their remaining positions.
Now go the freak down already. Take a load off.
Please tell me QID didn’t drop a $1 per share in 30 seconds just because of IBM. What are we, a one company economy now?
Geez.
seriously, fuck IBM. this market is pissing me off. being a bear sucks, but just seems so right.
I was up $250 on a QID trade then down $250 in 30 seconds. Wow.
Its amazing how bearish the comments are and yet the markets continue moving higher. Are we now arguing with mother market ? No one has made money fighting the market. The market looks like it wants to go higher in the face of bad economic news. Why stand in the way ? Either get long or stay flat.
I’m not arguing with the market. It was going lower this morning so I went short. What is surprising is the speed at which mother market chooses to change directions. The NQ moved 15 points in 30 seconds. Just not natural.
why can’t we all just be a little bit more positive about everything? look at the brighter side of things, cup is half full? aren’t you all tired of wallowing in the bad?
Well if you are short you better hope this effects the market in a big way. First CMO CDO than SIV and ARS and now get ready for ……..
VIE
http://globaleconomicanalysis.blogspot.com/2008/02/citigroup-vies-raise-question-of.html
Buylo,
I’m day trading so I don’t care if mother market goes up or down, but it is rather difficult to trade a market like this when violent reversals come out of nowhere. Just sayin.
agree on “rather difficult”. and up 500 points in about 10 trading hours leaves me a bit leary of being a buyer even though i’m not thrilled with how short daytrades have been working.
This market is crazy… it was making a nice pattern of lower lows and lower highs and then all of the sudden on some less then exciting IBM “news” it jumps right out of the pattern and goes positive – what? I can see IBM gaining a little, but the entire market place?
Either we can thank IBM for ending the recession, or the market is simply desperate for anything resembling good news and will therefore jack with our positions until IBM-type surprises no longer exist.
Jake is always good for at least 50 points on the Dow.
Alias BPOE:
We need to form a traders union and go on strike. We know what Bush and the boys are doing.
We will make them pay in the end. I will not trade until the fuckers stop!!!
Bad news and high inflation with high oil and high food costs = A FUCKING ROCKETING MARKET!!!
GO FUCKING FIGURE! Up 400 points in 3 days.
No, Gappy. That’s 500 points in just about a day and a half.
dogwood – I am wondering if on a daily basis at close you redraw you Fibonacci levels giving you an indication of the next day’s highs and lows? Saw this trader using same with good success. For example, for today he is saying his Fibonacci lines indicate that at SPX 1383 or 1408, to go short because, I guess, the SPX runs into strong resistance at those levels. He may go short today or tomorrow morning. I don’t know if this makes a lot of sense since Im new at stocks but his indicators seem to work. Just a thought.
Buylo,
I don’t use Fibs, I use trader pivot points on the Naz and NQ. Buy support, sell resistance, basically.
The R1 pivot point on the S&P is at 1381.
Steve:
From now on, I shall call you “FuckoffSteve,” thereby killing two birds with one stone.
I just love it when the steers come out to crow, especially when they have not yet realized their desire to punch cows has abandoned them.
And there’s another 50. Thanks Jake.
Silver going crazy right now.
Inflation will do that to a commodity.
Many times I tried to figure out, what are people talking about here and what they mean by saying stuff like that. And I realized that they just don’t have a clue about the topic themselves. It’s kinda strange. Anyway I have to say that you mast understand, what’s really doing on to comment things. Otherwise you will look and sound stupid.