Thanx Stephan; So far in Frankfurt volume is low but our blue chips are mostly up, Ge is off a tad but up in London.
Well they will start yet another session before we open,
and the next session the Up/Down will be based on today's close,
which could change prices even more from our last close, so the
next session it will be even more imported to check the forex
to convert the trading prices to US$ , then compare them to our
Friday close. I don't expect much change in the forex with us
closed. So far it looks like they are happy with what we did
Friday, and maybe some of the bleeding has stopped.
Jim
PS..
I'm mostly pointing this out as when so many people watch CNBC
they hear thoes news pundits going on about London is UP , or
Paris is Down...and it's so shallow and often missleading
1 they don't consider the Up/DOWN is based on their last close,
Not ours , how often have I seen our market take off
or drop after the Euorpien markets close..so if we did a LATE
spike; the next day they have to go up just to catch up..So often
they may show UP and still be off ) ( or down from our close)
And the above can be reversed.
2 The News pudits very seldom apply the Forex to the actual prices.
Lets keep in mind CNBC gets it's income from the dudes who want
to sell stocks and get people in the market. They do have a conflict
of interest they don't want to admit to, and all the small spins
or omissions like the above tend to favor the motive of how
good the market is.
-----------------------
<OT>
It's like the S&Ls flunkies who use to come talk to us in real
estate course,, using terms such as "The "POOR" lender" ,
and calling the front end charge a "discount"..
I most got expelled when I interrupted a class and went to the
black board and showed how the "discount" on a VA loan was
added to the price of the Home..( we all knew we had two prices )
so this discount was really a charge that put "hot air" into
the total loan, and towards the real cost that "hot air"
must be looked at as the last thing paid off if we are to be
honest.
Meanwhile the "POOR" veteran's lower interest rate
became meaningless as he paid interest on that inflated price
or "hot air" for the full term of the loan.
Take 10% of a 1O0K home. made it really a 90K home;..had he not
used his VA..well then take that 10K of hot air
and compound the interest on it for 30 years even at the
then 8% VA loans It comes to $10,058 at 8% , so the
so called discount amounted to $20,058 of a hot air charge
and we were being trained to somehow convince the Vet of what a good deal he was getting, just because he didn't have to put any money
down.
There was a "Law" that said the seller not the VET was to pay the
Discount..but it was meaningless..and circumvented
as the seller never paid crap..it was all done with a pencil
the discount was paid with the hot air we put on the price..and
not only cost the VET, but cost him interest on it for the length
of the loan.
My background caused me to find the practice disgusting, I only
sold one VA loan before I let my license expire, but at
least I made sure the guy knew the "real" deal.
Jim
PS..
People are trained to think the market is really Hot..
Well if the S&P500 were adjusted to the Dollar INDEX
you would find it's not even up 8% since it's top last
July ( lots of hot air every where )
The pundits use suttle tricks, such as 95% of the funds
can't beat the S&P over a 5 year time frame , while that is
true it's a half truth..they don't really add up exactlly how
POOR 85% of the funds do..I just did a scan about 15 to 20 %
of the funds are above where they were 10-1/2 months ago
80 to 85% of the Funds and 401Ks are not just draging behind the S&P BUT are actully losing money in the last 10-1/2 months
if you look at where they were last July...
To top that off a lot of the suckers in thoes funds got hit
with a cap gains tax in spite of them losing money.
in the last
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