Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

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From: Dr. Stoxx	6/25/2007 3:18:13 PM
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15:11 Floor talk: Color on market sell-off The mkt has seen a sharp sell-off over the past hour, as heightened concerns regarding the fallout from subprime risk on mortgage bonds make their way back into the mkt on a combination of headlines. The mkt sell-off was led by the financials (BSC, GS, MER, LEH), but has been broad based in the general market. In the past hour the Dow lost 125 points, the SPX lost 15 points and the Nasdaq dropped 23 points. The combination of headlines related to subprime issues are as follows: 1) CNBC highlighted the possibility for increased risk due credit rating downgrades, 2) Reuters ran a story discussing a Citigroup note from last week which highlighted ratings downgrades in GS' subprime bonds, and 3) there has been additional broker commentary regarding the potential implications at BSC, with Bloomberg.com reporting that Merrill analyst Moszkowski said "in its two decades as a public company, we do not believe Bear Stearns has faced a situation of this magnitude." 15:10 GS Goldman Sachs slides to session lows as it challenges its May low at 215.35 (215.15 -7.35) -Update- -Technical-

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