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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (147407)	9/17/2008 2:26:19 PM
From: patron_anejo_por_favor	Read Replies (4) \| Respond to of 306849

Sold the rest of my SDS (76.50) and all of my SRS calls. Bought GE at 23.30. Between golds, oils and shorts, I'm stacking some pretty serious cheese here today!

To: Think4Yourself who wrote (147407)	9/17/2008 2:29:05 PM
From: Bonefish	Respond to of 306849

Why not? They sat around stroking their houses and banks while being "absent". Meanwhile things were setting up for the fall.

To: Think4Yourself who wrote (147407)	9/17/2008 2:35:46 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

excuse me, but you consider what's been happening in the past 2 weeks 'sitting around'? and more to come... Dodd Says Fed Has Authority to Set Up Fund to Buy Bad Debts By Viola Gienger Sept. 17 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd said the Federal Reserve has the authority to act as an ``effective Resolution Trust Fund'' to buy up and dispose of bad debt stemming from the subprime mortgage crisis. ``The Fed has the authority to move in this area,'' Dodd told reporters in Washington. Dodd said creating a separate agency to take on bad debt, akin to the Resolution Trust Corp. set up in 1989 to absorb losses from savings and loan associations, would take about a year. Instead, the Fed should use its own authority to act. ``Debating whether or not you're going to set up some new agency or bureaucracy in government is a nice point but I don't think we have the luxury of waiting another year,'' Dodd said. To contact the reporter on this story: Viola Gienger in Washington at vgienger@bloomberg.net. Last Updated: September 17, 2008 13:35 EDT -- bloomberg.com.

To: Think4Yourself who wrote (147407)	9/17/2008 2:47:15 PM
From: DebtBomb	Respond to of 306849

I wouldn't get too bullish....but lot's of gaps did get filled....QQQQ about 42, UYG about 18.30, XLF about 19.40, etc.. It seems like the market needs something to get it going....rebate checks, rate cut, something.....

To: Think4Yourself who wrote (147407)	9/18/2008 6:44:52 AM
From: DebtBomb	Respond to of 306849

Got 247 billion? Central Banks Offer Extra Funds to Calm Money Markets (Update4) By John Fraher and Simon Kennedy Sept. 18 (Bloomberg) -- The Federal Reserve almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the worst crisis facing financial markets since the 1920s. The Fed increased the amount of dollars that the European Central Bank, the Bank of Japan and other counterparts can offer from $67 billion ``to address the continued elevated pressures in U.S. dollar short-term funding markets.'' The Bank of England, the Bank of Canada and the Swiss National Bank also participated. Finance officials have struggled to restore confidence in markets this week as investors stockpiled money amid mounting concern more banks will follow Lehman Brothers Holdings Inc. into bankruptcy. The cost to hedge against losses on U.S. government debt climbed to a record yesterday, the U.K. government was forced to sponsor a rescue of mortgage lender HBOS Plc and Russia poured money into its banks. ``There's a complete lack of faith in the markets,'' said Jim O'Neill, chief economist at Goldman Sachs Group Inc. in London. ``There's a lot of cash hoarding and people losing trust in banks, so the central banks are acting to relieve that. This might not be the last time they have to act.'' The rate on overnight dollar loans fell to about 2 percent as of 10:40 a.m. in London from around 5 percent before the announcement, according to Guillaume Baron, a fixed-income strategist who specializes in money markets for Societe Generale SA in Paris. Limit Doubled The Fed will spray the dollars around the world via swap lines with other central banks who can then auction them in their own markets. The ECB, Bank of England and Swiss National Bank allotted a total of $64 billion for one day today. Under the new arrangements, the ECB can now double its existing limit of dollars it gets from the Fed to $110 billion and Switzerland's central bank can offer $27 billion, an extra $15 billion. New swap facilities with the Bank of Japan, the Bank of England and the Bank of Canada amount to $60 billion, $40 billion and $10 billion, respectively. The arrangements are authorized until Jan. 30. The ECB said it would offer $40 billion ``for as long as needed'' in overnight funds to the region's banks. It will also increase by $5 billion to $25 billion the amount it sells for 28 days and to $15 billion what it auctions over 84 days. The Swiss National Bank will boost its 28-day auctions to $8 billion and the 84-day offering to $9 billion. Both were previously $6 billion. Use as Needed The Bank of Canada said it has decided not to draw on its $10 billion swap facility at this time. The Bank of Japan, whose policy board held an emergency meeting today, said it will use its $60 billion as required by market conditions. In auctions of their own currencies, the ECB today awarded 25 billion euros in one-day money and the Bank of England 66.2 billion pounds in one-week loans. The action is the latest attempt by central bankers to coordinate their response to the financial crisis. In December, they joined forces to boost dollar liquidity around the world after interest-rate reductions in the U.S., the U.K. and Canada failed to ease concerns about bank lending. The Fed increased its swap line with the ECB in July. The announcement boosted European shares and U.S. futures, which have been pummeled this week as contagion spread through financial markets. Europe's Dow Jones Stoxx 600 Index, which has dropped 8 percent, gained 0.8 percent to 260.15. Futures on the Standard & Poor's 500 Index added 1.2 percent. More than $19 trillion has been wiped off the value of global stock markets since Oct. 31. Other Possible Measures Failure to calm markets will see central banks inject even more cash, said Robert Barrie, an economist at Credit Suisse Group in London. Other options central banks could take include accepting greater collateral denominated in foreign currencies and increasing lending to banks abroad. ``The lack of dollars has been making the financial crisis worse around the world, which is why we now have this coordinated response,'' Barrie said. Since the credit squeeze began in August 2007, many central banks have sought to keep apart the need to soothe markets and to combat inflation. They argue that interest rates are a blunt tool for helping markets and that price pressures prevent them from cutting rates. While the Fed slashed its key lending rate to 2 percent it has left it there since April. The Bank of Japan kept its at 0.5 percent this week and the European Central Bank increased its benchmark to a seven year high in July. If the spasms in the markets continue and threaten to derail growth the central bankers may shift, although for now they will want to wait, said Kevin Gaynor, head of economics at Royal Bank of Scotland Group Plc in London. ``Partly this is to keep powder dry and partly because cutting interest rates won't make much difference,'' he said. bloomberg.com