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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (2700)	8/20/2007 6:08:58 PM
From: RockyBalboa	Respond to of 6370

Thanks, of course I may be early, but barred a significant cut in fed funds I see little danger. One (discount rate) cut can not fill those gaping holes. Of course much will depend on what the ECB does and whether the BOJ sells Yen. Tomorrow or latest wednesday ECB will show their cards and post the new level of capital funding at their open market ops section. But in summer I normally lost money on the long side. Can't see why it is different this time. The stream of bad news is not declining and we have yet to see the fallout from the decline of marginal sales: Where should people live? in Matchboxes? >>>>>>>>>>>>>>>>> Capital One Closing Mortgage Unit Monday August 20, 5:55 pm ET By Mike Baker, Associated Press Writer Capital One Cuts 1,900 Jobs, Closes Wholesale Mortgage Business Capital One Financial Corp. said Monday it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle in the nation's housing and mortgage markets. <<<<<<<<<<<<<<<<<<<< Oh and by the way, Indymac's (IMB) short position increased to 38MM or 52% of the OS. One of the most heavily shorted stock in mortgage land. Indymac has a potentially fatal problem on the short end. One which could kill the company in a few hours, as quick as LUM or AHM. IMB Management would never say so yet I don't see anything on how IMB would stabilise its precarious position.