Bear Markets all over boys!

[Masshog]

Just kidding....  Dow up a couple of hun on the open, but I don't really see this as changing much.   

[SultanofSwine]

How much of that do you think is pre-Ike positioning?

[Masshog]

I think its just short covering after the FNMA/FHLMC corp.  The same guys that have been calling bottoms for months now will proclaim this to be the "Big One" that they have been looking for to turn things around... I just don't buy it.  We could get a few good days out of this, but I don't expect much more than that.  But then again, Im wrong a lot. 

On a brighter note, Im long MBS and Agency paper far beyond my benchmark.  Suspect Im going to be very happy in the AM. 

[SultanofSwine]

 

[BlackKnightHogFan]

Yes, I agree a couple days of rips up.  May signal an end, may not.  Certainly a retest last week of the July lows, or close enough for gov't work.  Sept and Oct traditionally subpar months, I still believe we start the stock market recovery in Nov/Dec.

[Porkys Revenge]

The big money will soon be turning back to the CBOT. Take corn for instance. With urea being $800-$900/ton, DAP being $1200/ton, farm diesel being $3/gallon and the cost of seed being $100/acre, there's not a farmer in America that can afford to grow it at current prices. Corn will make a BIG turnaround or there will not be an acre of it planted in the US this year. Farmers are not in the business to loose money, plain and simple. Just don't look for alot to happen until the end of harvest(November in Midwest) barring an early frost. If there's any speculation of a frost hitting the midwest, better go long on that horse and ride that baby to the bank. Keep an eye on wheat futures also.

[HognotinMemphis]

Just kidding....  Dow up a couple of hun on the open, but I don't really see this as changing much.   

1pm CDT now and DJIA up 140. Big deal...not.

Tomorrow it will be down 200.

And in 2 or 3 more quarters, financials will be lower than they are now when asset writeoffs and reserves are more than they predicted and they have no clients who want or can qualify for loans.

[Masshog]

Just a never ending circle of badness... with no real end in sight.  Rally may have a few days of legs, but, I don't think its going very far or for very long. 

[razorbacks1usa]

needs to start a turn around my 401k is 15% down for the year
but that part of if your in it for the long haul

[Biggus Piggus]

Before today, when I have a stock up 10%, my performance YTD is +20% my boss tells me.

[HognotinMemphis]

1pm CDT now and DJIA up 140. Big deal...not.

Tomorrow it will be down 200.

And in 2 or 3 more quarters, financials will be lower than they are now when asset writeoffs and reserves are more than they predicted and they have no clients who want or can qualify for loans.

Sorry boys...I was a little off. DJIA was off 275 today...basically erasing all gains of last couple of trading days. I knew it wouldn't extend beyond a day or two and would give it all back immediately. My stocks are more down today than they were up on Friday's big day. Typical.

[Masshog]

A never ending circle of (insert expletive here).  Badness begets badness...  Lehman..BOOM.   

[Biggus Piggus]

The restaurant stocks are getting the whipsaw trade today after Chipotle reduced guidance citing slower traffic.  Longs had been buying restaurants for negative beta against gasoline and food commodity prices.  Recovery doesn't happen instantly, folks, but the sell side had been talking about Q3 upside.  It's really nasty when they Frank you like that.

[Fletch]

The decline in corporate IT spending seems to be accelerating also. Not good for tech companies.

[BlackKnightHogFan]

The decline in corporate IT spending seems to be accelerating also. Not good for tech companies.

Yes, thanks, said the guy who thought the trade was oil for tech in July.  I'm  glad I took profits in oil/lng  but I have been watching that deteriorate A LOT in the last month.