Where is the Dow & others heading in 2005?

[Racer]

Moodys downgrades Ford and GM debt to junk... GM was the biggest rising yesterday!

 

[kriesau]

Oil at $67.15 at 11.45am.

Anyone have any further information about the unscheduled New York Fed Meeting that is being called to discuss derivatives ?

Could this mean that some large hedge funds are in trouble or could the s**t be about to hit the fan at Fanny & Freddie ????

 

[Racer]

)--The Federal Reserve Bank of New York has invited leading Wall Street dealers to a meeting to discuss market practices within the rapidly growing yet still relatively opaque market for credit derivatives.

New York Fed spokesman Peter Bakstansky confirmed the meeting will take place Sept. 15, but wouldn't confirm the identity of the banks invited.

"There are a set of market practice issues that would benefit from a discussion between market participants and regulators," said Bakstansky, reading from a letter sent by New York Fed President Timothy Geithner to dealers on Aug. 12.

Each bank has been asked to send a senior business and risk managent representative to the meeting, said Bakstansky. He added, that the meeting will focus upon trade settlement and assignment issues.

 

[Racer]

New York Fed calls meeting with Wall Street banks on credit derivatives to discuss settlement and assignment practices. Issues were brought up in review published earlier this year by the Counterparty Risk Management Policy Group II, a reincarnation of a group of experts initially convened after the 1998 near-blowup of hedge fund Long Term Capital Management.

 

[Pat494]

The opening will probably be up about 15 points.
They seem to be waiting for the hurricane !

 

[Pat494]

C'mon Spikey give us your thoughts ??

 

[starspacer]

Market Manipulation

Here is an extract from quillian.net for those who doubt that market manipulation exists:

Learn to Recognize Corruption


Often outright corruption is present. On Friday, from 12:00 p.m. to 4:00 p.m., Google (GOOG) moved within a $0.35 trading range and closed at exactly $280.00 on options expiration day. Both put and call options on both sides of $280.00 expired worthless. I can't remember Google (GOOG) ever trading for four hours within a $0.35 trading range. Does anyone believe that this is just a coincidence?

 

[Pat494]

I'm may be wrong but i've just put a long on !!

 

[JillyB]

I'm may be wrong but i've just put a long on !!

Had a long on at 3pm at 10425/29 - but got out at 10,446/50 for 17 points. So little movement today -think I'll just sit and wait it out.

 

[khafki]

I don't have the signals for these - there is another thread where Safesignal posts the buy/sell levels for the Indices - not just the Dow.

thanks
is there a subscription for the site

 

[Pat494]

Had a long on at 3pm at 10425/29 - but got out at 10,446/50 for 17 points. So little movement today -think I'll just sit and wait it out.

Guaranteed to move with lightning rapidity just when one has dozed off !

 

[hornblower]

thanks
is there a subscription for the site

Its free go and look
H

 

[khafki]

Its free go and look
H

thanks just had a look
does it work???
khafki

 

[hornblower]

just look on the site and it will give there record

 

[Pat494]

About turn. Seems to be reversing !!

 

[Racer]

Could be a big move coming in 20 mins or so

 

[jonty69]

Time to go long? Made a few points from some pretty risky longs and shorts in this chop but it doesn't feel comfortable.

 

[Pat494]

Time to go long? Made a few points from some pretty risky longs and shorts in this chop but it doesn't feel comfortable.

Don't you mean short ?

 

[Racer]

jonty69
If this moves down it will go very fast

 

[jonty69]

I didn't, that's why I asked the question. Sorry if I'm being a thicky . I'm working on EOD data so thought it might mean reversing on that. Another shift down in the offing then? What is the signal for that if you don't mind my asking?