Market Watch 7/23/02

none | me

[steveegg]

Interesting; very intersting. Time will tell whether it's a boon or a bust (please let it be a boon).

[AdamSelene235]

Any thoughts on whether real estate will hold up?

Big Scary Monsters

'Fannie and Freddie Were Lenders': U.S. Real Estate Bubble Nears Its End

Fannie Mae Enron

[steveegg]

If you're watching CNBC for the market news, you may want to turn up the sound in about 20 minutes. It's an Ann Coulter alert (quick; where are the pictures ;-)

[jriemer]

HCH,

When you tie your factoid in with the 8/14 dead line to have "honest" 3Q earnings reported to the SEC, we might be seeing the "squeeze" that flushes the white collar crooks out into the open.

A beefed up SEC might already have enought staff to know have a good idea what these companies have been doing up to 8/14. If marginal companies don't re-state earnings on the 14th, it would be time to "book 'em Danno!"

I have already read that the CEO of Sun Mircosystems has been trying to get a brief of the legal implications of the "CEO sign-off" for their 3Q earnings. There's fear out there in Suitworld.

jriemer

[marshmallow]

A Charles Schwab analyst examines the market for us;

Investor confidence doo wah diddy diddy dum diddy doo heavy showers rising fast ball sound basic fundamentals in the long term pumpkin pie Martha Stewart liquidity portfolio overstocked inventory Ozzy Osbourne drought in the South East illegal immigrant spin doctor alcoholic hangover drug bust market resistance high end blue chip medium term profits with a long term heatwave warning.....

[eno_]

One Economist article about the GSEs, which is spot on, but does not spell doom for real estate prices, plus two Lyndon Larouche scaremongering pieces, which incline me to think exactly the opposite of what they say.

[TBall]

I have no Idea, but I just got back from lunch and its now down 12%. JPM and Citigroup are getting crushed.

[hchutch]

Actually, gov_bean_ counter alerted me to that factoid. I think that something is going to happen and VERY quickly after August 14. To me, the key is the silence.

Rattling a saber makes noise. Pulling it out of the sheath is a LOT quieter.

[Miss Marple]

Thanks for the info on the SEC. That is very interesting.

Interestingly, I also notice that Pitt isn't backing down at all. First they tried pushing him out by attacking him. Then they tried getting Presideint Bush to fire him. Then they switched to attacking O'Neill, and floated the idea that Rubin would instill confidence in the market.

Yeah, right.

I wonder also what is going on behind the scenes, and I will bet it is far more than we see evidence of on the surface.

By the way, I don't have TV access today as grandkids are here, so thanks to all who provide updates!

[rintense]

I hope you are right- BIG TIME. I have a feeling Bush knew just what was going on before he took office, which is why he bolstered the SEC when he took over.

[Maringa]

It looks like we're headed towards another triple digit negative closing...TXN - one of the few companies with slightly positive results...

[steveegg]

You could be right (my Monday after-the-closing-bell prediction of -398/-44/-37 looks to be at least 1/3 right):

DJIA -45
NASDAQ -32
SUP -17

Ann Coulter coming up after the break on CNBC.

[steveegg]

And it all depends on which index you want at a triple-digit loss. From the NYSE Market Info page:

NYSE International 100 -101 (-3.15%)
NYSE Tech Media and Telecom -175 (-5.03%)
NYSE World Leaders -96 (-2.52%)
NYSE US 100 -87 (-2.07%)

[Dog Gone]

<>

Um, I think I send a trend developing this afternoon.

[steveegg]

S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
S&P S&P S&P S&P S&P S&P S&P S&P S&P S&P
(One of these days, I'll remember to proof-read :)

[steveegg]

Would it be "Free Falling" (Tom Petty)?

DJIA -82
NASDAQ -37
S&P -20

[hchutch]

I think Bush knew that these folks would do just about anything - if not just from the campaign, then the Florida battle probably told him. He knows he cannot out-nasty them, especially with their media advantage.

But he can out-fight them in other ways. He also has the most leak-proof White House I have seen. That give him one other big advantage: He will have the element of surprise more often than not. THAT will help, too. He's got something in mind, and I think some folks are being given one shot to get it right before he goes after them.

Look at how he handled Arafat. Arafat had plenty of chances, he blew them, and Bush finally said Arafat had to go. Same thing will work here, but there is a much shorter fuse.

[Dog]

Dow down nearly 100 pts...

[steveegg]

And for those of you who think that gubmint bonds are a better bet...

10-year T-bond 44.31 (-0.36; -0.81%)
13-week T-bill 16.62 (-0.08; -0.48%)

[billhilly]

Thanks to each of you who have responded to my real estate inquiry.