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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (11878)	2/12/2008 4:52:03 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 12410

Follow up on Buffet's offer Briefing.com 4:20 pm : The stock market covered its fair share of ground Tuesday, moving mostly in bullish fashion until a late-day retreat led by the big-cap technology issues cut into its gains. Warren Buffett provided the fuel for a broad-based rally in the early going when he told business channel CNBC that Berkshire Hathaway offered to assume $800 billion in municipal bond liabilities from the three major bond insurers, MBIA (MBI 11.50, -2.08), Ambac Financial (ABK 8.90, -1.58) and FGIC Corp. His offer mitigated the market's concerns about a large-scale municipal bond selloff that might occur in the event the bond insurers lose their AAA rating. Buffett was quick to note that one bond insurer already said no to his offer and that he hadn't heard from the other two. The lack of interest is certainly understandable since the offer only extends to the municipal bond portfolio. The bond insurers would still be strapped with their CDO business. The market recognized the desperate nature of the situation for the bond insurers that was exposed by Buffett's offer, and hence, their stocks languished in its wake. From a broader standpoint, though, Berkshire Hathaway's offer left the market cognizant that Mr. Buffett expressed an economic interest in assuming these liabilities now, and presumably, will have that same desire in the future if the bond insurers get tripped up for good with the loss of their AAA rating. Accordingly, it was comforted by the realization that a safety net of some sort seemed readily available for the municipal bond market

To: Chip McVickar who wrote (11878)	2/12/2008 6:00:00 PM
From: Patrick Slevin	Respond to of 12410

No, I've crossed numbers & markets. Haven't set up the scans on TS as yet so I'm prone to mucking it up. 130 minute would be the Cash, 135 minute would be the Future so 45 minute on the SP Future. ------------ I look at the patterns based on the old Day Sessions, 9:30 EST to 4:15 but except for the one chart that is set up to see the Day Session all of my charts run as 24 hour charts. Been thinking about setting up 24 hour charts but using Tick bars so the Night Session will be diminished in importance. For example, if you rely on MACD or Sto or RSI et cetera the Night Session flatlines or otherwise goes askew. So using Tick bars the night session becomes shorter for the chart & more meaningful. Take for example 2,000 Ticks as a bar. You'll have fewer bars at night, the most in the morning until 11 AM or so, then another light session and finally a more active session up until 4:15. The Chart has to "break" for Daily reckoning somewhere so the last bar will be less than 2,000 Ticks. I haven't created a database where I can get a sense of 24 hour patterns yet, so I try to trade based on what I think the Day Session (9:30 to 4:15) will be. But I have to create something else. The 24 hour chart has become more important. ------------ Momo = momentum trading.