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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (17172)	5/6/2009 10:33:37 PM
From: SouthFloridaGuy	2 Recommendations Read Replies (1) \| Respond to of 50132

525 basis point of rate cuts, steep yield curve, Fed backstopping housing - which by many accounts is no longer overvalued - major underinvestment in cash instruments, global expansion emerging manifested in risk trades (Gold, Silver, Carry trades). 'Nuff said. You need an exogenous shock a la Worldcom/Enron/Terrorism war to bring this market back down. The fundamentals are shit, but a lot has been priced in nearly 2 - yes 2 years of market declines...But they're improving, and in the investing world it's all about what have you done for me lately. Bernanke wins the battle, but creates a bigger crisis down the road concerning the USD. So sorry, your view is too consensus. I say the S&P500 is at pre-Lehman levels by April 2010.

To: SliderOnTheBlack who wrote (17172)	5/15/2009 3:29:57 PM
From: SliderOnTheBlack	3 Recommendations Respond to of 50132

Credit Card Defaults reach new record highs... cnbc.com U.S. credit card defaults rose in April to record highs, with Citigroup and Wells Fargo posting double digit loss rates, as the recession slashed more than 2 million jobs since the beginning of the year. "U.S. card credit quality continues to struggle," John Williams, an analyst at Macquarie Research, said in a note to clients. In March, investors gained confidence in the industry after American Express [AXP 24.04 -0.68 (-2.75%) ] reported better-than-expected credit card default rates, suggesting cardholders' ability to pay bills could be stabilizing. But the latest numbers dashed hopes of an early recovery, according to reports on the performance of credit card loans that issuers packaged into bonds and sold to investors. "April, in our opinion, still bears some beneficial trickle effect of tax refunds received by customers and therefore is seasonally a relatively better month," Scott Valentin, an analyst at FBR, said in a research note, suggesting a grimmer outlook for the industry in coming months. .......................... April..... March Citigroup...... 10.21% - 9.66% Wells Fargo.... 10.03% - 9.68% JPM Chase.... 8.07% - 7.13% Discover........ 8.26% - 7.39% Hang onto your DOW shorts - reality is sinking in. SOTB