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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Kailash who wrote (80398)	7/8/2008 9:19:08 AM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 94695

I think, if we have that fast and furious rally today, it may be the beginning of something more... my model is telling me that if we can remain above 1242.80 for another week or so that we'll rally much higher... I took a long at 1244.50 this morning just to hold my interest... meanwhile, I suspect we're now looking at some kind of basing action... GZ

To: Kailash who wrote (80398)	7/8/2008 9:19:36 AM
From: Real Man	Read Replies (1) \| Respond to of 94695

Maybe. He said there nobody is using these loans anymore, so what good does it do to extend them? Nobody wants to lend. <G> Securities firms have cut back on their use of the programs in recent weeks. The balance of loans outstanding from the PDCF dropped to zero as of July 2, the first time that's happened since the program began. On March 26, the end of the first full week of operation, the PDCF had a balance of $37 billion. Bids Decline Bids in the TSLF's weekly auctions, in which dealers swap securities such as mortgage-backed debt for Treasuries from the New York Fed, have declined since the start of the program. In the July 3 operation, firms submitted bids for $26.1 billion out of $50 billion of Treasuries offered.