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Danville

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In reply to: early birds on Friday 18/07/08 07:30pm

good scalping EB http://www.sharescene.com/html/emoticons/tongue.gif

 

Im still short but I've got my finger on the eject button.....still feel it could drop back tonight

 

cheers

aus

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QUOTE (ausonic @ Friday 18/07/08 06:19pm)

Great article Aus

 

QUOTE
"In the long run, if the fundamentals are not positive, if liquidity is going away, if growth is slowing, and then you introduce the specter of increasing interest rates, [government intervention] will not affect the eventual valuation of the market unless they just shut it down," Triltsch said.

 

But a bazooka in your pocket can delay the inevitable http://www.sharescene.com/html/emoticons/lmaosmiley.gif

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QUOTE (early birds @ Friday 18/07/08 07:40pm)

QUOTE

NEW YORK (MarketWatch) - Citigroup, the nation's largest bank by assets, said on Friday that it lost money for the third consecutive quarter after writing down $7.2 billion of investments. The company said it lost $2.5 billion, or 54 cents a share, compared to a profit of $6.23 billion, or $1.24 a share. On a continuing operations basis, the firm lost $2.22 billion, or 49 cents a share, compared to $6.14 billion, or $1.23 a share

Citi Q2: $7.2B pre-tax write-downs in securities, banking -
Citi takes $2.5B charge to increase loan loss reserves - 
Citi reports $4.4B in net credit losses - 
Citigroup swings to loss after $7.2 bln writedown -
Q2: $7.2B pre-tax write-downs in securities, banking -
Citi reports $4.4B in net credit losses - 
Citi takes $2.5B charge to increase loan loss reserves - 
Citi Q2 net loss $2.5B vs profit of $6.23B 

 

Sure, not as bad as expected - but really, rally on this??? I have a hard time getting my head around that sort of stuff.

 

You may be right EB - we could get our pump and dump tonight

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In reply to: Danville on Friday 18/07/08 08:43pm

that's how they squeez shorts Dan, thought we all got done badly before similar to this sorta thing.

 

anyway, i remember when JPM at $40 plus, citi were traded at $20 plus, now it is only $17 plus, so we might see some adjustment there.

 

wait for HON and SLB, if they both are good, then future could go up another 100points, that's when we going to place a shorts before the market opens.

 

too much headline swings atm.

 

 

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In reply to: early birds on Friday 18/07/08 07:57pm

Yeah, it looks like they want to slaughter all the shorts in such a big way that they will be afraid to go back in again. Been there, done that, last year. I'm ready for them this time around. LOL Lying in wait like a vulture.

 

I'm amazed at how far this has run the past few days. Nothing like a bear market rally to get you heart started.

 

Do you have any idea what time these earnings come out??

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In reply to: early birds on Saturday 19/07/08 12:08pm

Huge earnings week next week. Any number of these could move the markets. Looks like a great week for scalping - both ways probably.

 

http://www.marketwatch.com/news/story/mark...D&dist=hplatest

 

I'll be keenly watching the financials that jumped so high on short covering this week (Fannie, Freddie, Wells, etc) I was amazed that they flew again last night. If anything, the DOW will follow the lead of the financials once again next week. When they start to correct, time to short again.

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